ok, to have fun with this new game, I put a pending order sell at 1.32320
hi kolapo i have been trying to catch top of mbfx waves or the bottom of it for two days now
i couldn't the waves keeps moving up or down without touching price that's why it looks good in past i'm sorry all time frames
are the same maybe you know something we don't!!
hi henry you will find joy on the 30mins if you are a day trader the top two lines define the extremes. at least you will get 2 trades a day.triangulating price is more important.you will get quick ones on the 5mins and 15mins from experience the most stable are the 30 mins 4 hrs and daily on extremes.follow the waves with fx cycle and the nonlag.the latest version defines gerlofs support and resistance on end of waves.try it you will see for yourself.basic knowlegde of candle patterns help as well with indicator confirmation
One technique you can apply is fib the wave itself if you have 50% on the balance point you will have a reversal
so if i understand this fx cycle dominator correctly, when a line starts to form on either extreme, it is an indication of a reversal? not to be solely relied on, but will give confirmation if other factors such as balance points, triangulation, and S/R lines all point to the same area. i must admit though that i do like iVar - to be used in the same way. I would never trade off it but it does add weight to taking a trade.
eurusd H4 , gbpusd H4
http://content.screencast.com/users/JohnCapa/folders/Price Action 2012/media/ffc497f1-c18d-4dea-98f2-7bbe9ed32bd1/Schermata 2012-02-10 a 16.40.39.png
pendig orders, taken and placed in time on the triangulation cross point.. and still running in gain: eurusd 48pips , gbpusd 62pips
Last edited by JohnCapa; 02-10-2012 at 02:50 PM.
Thanks Kolapo.. if you see something wrong, feel yourself free to correct me
Hi john on closing of the euro/usd and gbp/usd you already have gaps on closing.fxpro 2 scenario price retraces gives another zigzag line to triangulate with.if it starts to drop below the gap fib the gap level as 50% it will give you 100% of the fib as your target.if it retraces and gives a zigzag use triangulation to determine where price will drop down to you will get a balance point before the next reversal .keep an eye on the daily as well.1st target should be fibnode at 38.2% fib on the daily.happy trading.