Ran our fibs from the zone on the 30 min time frame. Was able to get 3 entries in, held on patiently and was able to catch some great pips. Roughly caught 30 pips on each entry so 90 pips in total.
Another example of EMA line crossing then a first bounce. Doesn't always happen but when it does, good possibility that your FIB entry will be spot on.
Able to find this due to finding GJ's FIB set ups. GJ and GJ are practically twins on the charts.Next week will be interesting.
Another example of how spot on the fib retracements are. From 7:45 am to now you could have caught 9 perfect entries on this pair, back to back to back.
GU and GJ are twins, all next week I will be observing those 2 pairs along with gold and US30 like a hawk.
Similar set up to GJ, they follow each other. Next week will be observing them like a hawk at the same time.
Hours later we see a perfect entry for a buy on the 15 min time frame, only one entry at the 62% but she ran with no draw down which are the trades we want overall.
15 min time frame shows us a perfect FIB short on Friday, Oct 16th @ around 8:00-8:30 am All 3 entires would have been hit and profitable.
Saw another set up for this pair once again unfold. A little choppy, allow myself to go negative 37 pips overall before taking profit which is bad because at that point my emotions took over. But at the same I knew price was going to jump too test the 50 EMA and strength meter showed power in the dollar so I held my trade.
Price retraced perfectly to the 62% and 70% level giving us 2 entries. Proceeded to use the 14 EMA as support to carry price up. Total pips gained on this trade: 46.4 pips
I go in detail on the chart as to what I found. Closed after 4.2 pip gain, didn't like price action.
4 hour shows a temporary bullish environment, 30 min and 1 hour shows the same. 15 min shows price retracing, in expect price to hit the 70%n perfectly due to the 29500 level and the 14 EMA from the past bouncing from that level.
price broke to the down side. Set up my fibs, entered in at the 62% and 70% levels. Took profit on first entry at 10 pips, took profit on second trade at 8.4 pips. 14 EMA helped price flush down. Left a lot of money on the table but happy with the result.
Price broke to the upside. Retraced down the 62%, 70% and 79% level. 14 EMA helped push price up after testing it multiple times. Was able to get all 3 entries in. Total gain = 37.7 pips.
I go in detail in the chart as to what occurred. Fibs set up was perfect for an entry at all 3 levels, 62%, 70%, 79%. I personally only entered in at the 79% due to the volatility of this pair. 30 min time frame also confirmed this trade using institutional levels.
EMA lines crossed over for a sell as well on the 15 min giving us more confirmation. Currency strength meter showed the JPY being much stronger than the CHF at the time of my entry.
Saw price break zone to the upside, ran my FIBS, got my profit and got out.
We go in detail on the chart as to what occurred. Additionally we found confluence on the 30 min time frame using ranges and on the 4 hour time frame looking at the overall trend.