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thank everybody that made a comment or add a like to my previous strategies. Be
sure that I have many more ideas – original and not just copy from another site
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We use FRACTALS, FIBO LEVELS, EMA
, any time frame .
On our diagram we put
the EMA 13 and the Fractals ( up and
down ) .
We don’t need
anything else, just these two things .
Use 1 hour time frame
or higher. The bigger the time frame the less the false signals .
-----So our chart is ready.
Now let us see how it
works . Don’t think that is something difficult.
We watch for fractals to being formed. When
the current candle goes up ( penetrates ) the last up fractal that was formed and we are over the EMA 13 ,
then we open a long position. When the current candle goes
down ( penetrates ) the last down
fractal and we are lower than the EMA 13
,we open a short position.
Now we had our
entrance for long or short position and we have to determine our target . That’s where we
are using the fibo numbers putting the 0 % and 100 % to the up
and the down latest ( formatted ) fractals and target at the 1.618 %of fibo.
What about our
stoploss ? This will be the
previous opposite fractal or when the candle close below the EMA 13 ( if we are
in long position ) .
Now let’s see an example : We take the EURSEK
pair and we see that we have a fractal (on the 13.2.2012 , 09.00) at 8.80195 . After that we have an opposite
fractal (on 13.2.2012 ,11.00 ) at 8.81737.
This formation gets active when the candle of 13.2.201 ,14.00 penetrates down the 8.80195 and we are below the EMA 13 . We
open our short position and we put our FIBO levels using
for 0.00% fibo the 8.81737 and for 100% fibo the 8.80195 . Our target is the 161.80% fibo at 8.79242 . We catch our
target at the candle (on 13.2.2012, 14.00)
We could use RSI besides the EMA , trying to
filter the signals or we could use a bigger time frame with EMA, only to
determine our major trend. Of course
things could be more easier if we don’t wait for the 161.80% fibo for our
target to catch , but just take the
127.2% fibo that is closer to our
opening . It’ s your call. Another solution is to close partial our position at
the 127.20% 161.80%, 261 .80% fibo.
So simple .
Next week in
the new contest a new strategy is coming up.
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