unfortunately kor4x is right i think.
To explain a bit: SL above X (X+ some pips/could be ATR related + spread), TP1 at the generally followed 38.2 and TP2 at 61.8%... according to cypher rules...
So I do not think anything was wrong, unless somebody is working with propriatery SL TP placement. In that case I agree with kor4x. But even then, the technique to decide is still what I stated.
And of course, do not believe anybody anything, until you test it and prove it to yourself, working with the rules you selected!
As everything in this business it is up to you of course.
Last edited by lobogabor; 10-04-2013 at 07:56 PM.
As I look at it now on H4 I just have an "ugly" bear shark @ fib 100% viable for a shark up to 113%. I am not checking it in details before the weekend, but pls. consider.
I do not seem to find any bull pattern though. I do see nice and promising HTF support zone...
I do not know if and how to fit into the conspiracy theory, but EurChf H1 seems to have a nice H1 bear bat... but again it is Friday late afternoon... I do not bother with it.
Have a nice weekend.
Last edited by lobogabor; 10-04-2013 at 06:49 PM.
I 100% agree "do not get caught by marketing type of" ... any... try it, test it, measure it, and then decide.
Even if somebody`s statistical data provided, it will mean nothing to others for any strategy or pattern, due to interpretation and consistency of following specific rules.
No question about it.
I wonder how come, you did not mention discipline and following the rules/plan, along with the risk management - I think that one is at least as important, isnt it?
Last edited by lobogabor; 10-04-2013 at 07:25 PM.