Traderbeauty Posted February 4, 2015 Report Share Posted February 4, 2015 (edited) Again- I am not trying to show off or brag- i am just trying to teach some of you- and the best is to show LIVE PROOF not replay or demo. As you can see in the 60 minute chart the market is in a big triangle and i plan to take advantage of it. I shorted at 2048.50 while the top was 2049.25 that is not bad - 2 ticks with such huge moves- and i did not use ANY INDICATORS- see the 2 top arrows. The reason i shorted there is because there was a perfect confluence with the trendline and the 1.618 fib so i placed my order AHEAD OF TIME. The moment i got filled the market dropped like a stone with huge volume so i knew i made the right move. Right now as i write this post the market is at 2022 which means i already have 26.50 points. Now many of you asked me how i decide where to exit- its very simple- i will not exit before the 50 fib look at the middle arrow- 2011.50 which will give me 37 point of $1850.00 profit on one contract- not bad for a days work lol. I can tell you that i have few more shorts but these i plan to exit at the 62; 78 and the lower trendline. but i only show you this one to make things easy to understand. Attached is my live broker account showing the fill. ( this is for you - user33 ). Hope that helps. take care and thanks JUST A REMINDER- PLEASE PUSH THE THANKS BUTTON SO I CAN TELL HOW MANY LIKE THESE KIND OF POSTS -IF I SEE ENOUGH I WILL CONTINUE. Jane http://i.imgur.com/V1OQFzy.png http://i.imgur.com/yKEFsU5.jpg Edited February 5, 2015 by Traderbeauty Fxheaven, mastertrader7, mikemast77 and 17 others 20 Quote Link to comment Share on other sites More sharing options...
Yoibitsu Posted February 5, 2015 Report Share Posted February 5, 2015 nice short , good luck Quote Link to comment Share on other sites More sharing options...
Fxheaven Posted February 5, 2015 Report Share Posted February 5, 2015 Good trade. But I did not understand how you decide to put different fibo levels on the chart. Quote Link to comment Share on other sites More sharing options...
Traderbeauty Posted February 5, 2015 Author Report Share Posted February 5, 2015 Good trade. But I did not understand how you decide to put different fibo levels on the chart. i always use the last leg- when you do a fib extension it was a perfect match with the trendline and thats why i decided to short right there. mikemast77, exp48967 and profile 3 Quote Link to comment Share on other sites More sharing options...
RICHI Posted February 5, 2015 Report Share Posted February 5, 2015 i always use the last leg- when you do a fib extension it was a perfect match with the trendline and thats why i decided to short right there. Hello Traderbeauty nice trade :). How many ticks do you usually use for stoploss in these long-term trades ? Quote Link to comment Share on other sites More sharing options...
profile Posted February 5, 2015 Report Share Posted February 5, 2015 Hi Traderbeauty, Great posting. Good material to rethink and revise the market. After the fact, as I did not take this trade nor had the insight you had, I noticed the following: - on the 60 min chart I apply fib from the last low prior to the high you take the trade from - using the fib extension to 1,618 gave very precisely the target the market moved (at current time) http://s22.postimg.org/iornyqp5d/5_2_2015_9_57_36.jpg Quote Link to comment Share on other sites More sharing options...
diabouncer Posted February 5, 2015 Report Share Posted February 5, 2015 nice going, i took the same trade but exited all before the close. Quote Link to comment Share on other sites More sharing options...
Traderbeauty Posted February 5, 2015 Author Report Share Posted February 5, 2015 Thanks guys- I ended getting out at 2021.50 which was very close to the 38 big fib - i figured that 27 points is a nice profit. ciardim 1 Quote Link to comment Share on other sites More sharing options...
ciardim Posted February 5, 2015 Report Share Posted February 5, 2015 good morning i am new on forum, i dont see where is button for say thank Quote Link to comment Share on other sites More sharing options...
Traderbeauty Posted February 5, 2015 Author Report Share Posted February 5, 2015 Going to reshort at 2077.25 for more than 20 points ( if it gets there ) ciardim and Wanderer 2 Quote Link to comment Share on other sites More sharing options...
amruta Posted February 6, 2015 Report Share Posted February 6, 2015 Hi Traderbeauty, From where will you consider your new leg for Fib calculations? Will it be from 1973.75 (Feb 1, 2015) to 2049.25 (Feb 4, 2015) or will it be 2049.25 (Feb 4, 2015) to 2020.75 (Feb 4, 2015)? Please reply. Regards Amruta Quote Link to comment Share on other sites More sharing options...
Traderbeauty Posted February 6, 2015 Author Report Share Posted February 6, 2015 Hi Traderbeauty, From where will you consider your new leg for Fib calculations? Will it be from 1973.75 (Feb 1, 2015) to 2049.25 (Feb 4, 2015) or will it be 2049.25 (Feb 4, 2015) to 2020.75 (Feb 4, 2015)? Please reply. Regards Amruta ALWAYS USE THE LAST LEG- 204925 DOWN TO 2020.75- now i measure what was the fib retracement to the previous leg- and it was 38 fib so this tells me that we have a strong trend up- meaning i will not short before 1.918 fib extension. Jane amruta 1 Quote Link to comment Share on other sites More sharing options...
xioxxio Posted February 6, 2015 Report Share Posted February 6, 2015 Great trade, where was your stop? How many points would you let it go against you? Thanks Quote Link to comment Share on other sites More sharing options...
Traderbeauty Posted February 6, 2015 Author Report Share Posted February 6, 2015 Great trade, where was your stop? How many points would you let it go against you? Thanks my stop for the last short was 2 points- that was enough - if the market had taken my stop that meant that the level did not hold. xioxxio 1 Quote Link to comment Share on other sites More sharing options...
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