The Weekly Crash Zone

[noushina]

EDIT
Well my pics were purdy, but wrong.
So I deleted 'em.


No point in confusing folks.

[MightyOne]

MO,
I have some questions. and correct me pls, if I am wrong:

you enter the trade somewhere (without a precise entry point) beetween TPs? If you meet two consecutive SL, you are off till next week? How do you find the best moment to enter? The fibo level you mentioned?

Or you just enter the trade accordingly with the direction of the daily/weekly candle?

What's with the volatility on such big TF, how do you handle with it?

20 pips SL includes spread, I assume?

Or maybe I avoided sth?

1. I sell high and buy back when I believe that price will not fall lower as opposed to waiting for a BO or some sign of momo.

2. If I lost 40 pips I would just sleep the rest of the week.

3. Before ever sitting down to trade I have studied the pair from top to bottom and gathered notes.
I then enter on smaller charts in the context of the larger charts.
I may enter via: Sweet Spot Gold (best for high volatility), Rat Trade (beautiful on combined candle trades), 1 minute charts (pointless to wait for BO, just enter when you feel price will head higher/lower), Price closing over S&R or Failing to close over S&R.

4. You need only trade off of daily+ extremes if you are scalping. If you are holding then you should trade daily+ extremes off of the corrections extremes.

5. Volatility on high time frames is just profit; I will wait for a long term momo candle and liquidate beyond it.

6. 40 pips altogether includes spread.

[poltergeist]

Thank you MO, you resolved my doubts

By handling with high volatility, I meant possible SL too early.

I'll try this method when the day opens (I am GMT+1), with pending orders...

When I look at the chart, price goes the opposite way that I want, so I'll turn off my PC

[sellkobayashi]

Where is the Statistical Analysis I want to see where it works 70% of the time. Facts Black and White and I want to be able the Recreate with Excel and R.

[sellkobayashi]

Im Not Saying It Doesn't Work I Just Like To Have The Numbers Before I Dedicate My Time and Effort

[tmanbone]

Hi MO.

I am not sure if I quite understand. Would you confirm or clarify please.

Below I have listed my understanding of how to use the 1/6 fib with daily charts.

I think that I am not clear on where on the new day I am to move the 1/6 fib object based on the previous three days. In the example below I place the zero point at the open of the new day. But someone else commented that it could be the current high or low of the new day.

Thank you.

I thought we were dealing with weekly bars, set your fibs, then zoom in. Maybe I missed something.

[noushina]

I thought we were dealing with weekly bars, set your fibs, then zoom in. Maybe I missed something.

Thanks tman. Ya. I got confused and was looking at another thread where MO was explaining using 8 hour bars. So I was thinking be the same with daily bars

EDIT. I deleted those pics since they were wrong and might confuse people.

[tmanbone]

I thought we were dealing with weekly bars, set your fibs, then zoom in. Maybe I missed something.

Thanks tman. Ya. I got confused and was looking at another thread where MO was explaining using 8 hour bars. So I was thinking be the same with daily bars

It takes a little study, or at least it did for me to grasp. I calculated off the weekly, as MO stated in the first few post of explanation, then zoomed in on the daily.

[MightyOne]

Im Not Saying It Doesn't Work I Just Like To Have The Numbers Before I Dedicate My Time and Effort

Nobody gives a damn if you do or do not use it

[MightyOne]

Hi MO.

I am not sure if I quite understand. Would you confirm or clarify please.

Below I have listed my understanding of how to use the 1/6 fib with daily charts.

I think that I am not clear on where on the new day I am to move the 1/6 fib object based on the previous three days. In the example below I place the zero point at the open of the new day. But someone else commented that it could be the current high or low of the new day.

Thank you.

It is calculated using WEEKLY CANDLES

&

is used strictly on the WEEKLY CHART hence The Weekly Crash Zone.

&

no it does not have anything to do with entries.