fibonacci

EURUSD Long Fade Trade After Exhaustion On the Hourly Chart.

  • Posted on: 21 July 2015
  • By: strategist
EURUSD Long Fade Trade After Exhaustion On the Hourly Chart.

This one was a classic fade trade (as you see I like these for scalping). There was a strong bearish move on the one-hour chart and around the close of the NY session exhaustion started to take place on July 15, 2015.

I executed a long with a take-profit target at 23.6 fib retracement of the leg down. Bagged around 12 pips. Great scalping trade.

NZDUSD Short After A Strong Bearish Impulse. Synergy Bars (Heiken Ashi). Fibonacci Extensions.

  • Posted on: 21 July 2015
  • By: strategist
NZDUSD Short After A Strong Bearish Impulse. Synergy Bars (Heiken Ashi). Fibonacci Extensions.

On Jul 15 a strong bearish synergy bar closed on the daily chart for the kiwi (NZDUSD). The fundamentals were also in agreement (negative New Zealand economic indicators and a strong USD) so I executed a short. I set a break-even point at 127 Fibonacci extension of the previous leg down and executed my break-even Expert Advisor to watch when the price action hits that point. My take profit was set at Fibonacci extension 138 of the previous leg down since it was way past the third leg of the down trend (fourth or fifth leg already) and a danger of trend waning was at hand.

Classic Trend Following on NZDCHF. Confluence of Factors.

  • Posted on: 30 June 2015
  • By: strategist
Classic Trend Following on NZDCHF. Confluence of Factors.

I submitted this classic trade on Jun 26 2015 but I didn't post it until it was closed. This one is very interesting since I haven't done any of these types of trades in a while. By-the-book trades like these are rare as you will learn with experience.