Please find below three basic trading strategy's that can be implemented to any market on a daily basis.
I have only given out basic information on the ratio's and Fibonacci's of the three strategy's, should you need anymore in depth information don't hesitate to contact me.
2618 Rules Of Engagement: 1. Double top 2. Break & close below neckline / support 3. Sell at 0.618% Fibonacci Retracement
Gartley Pattern Rules Of Engagement: 1. 0.618 Retracement of the X to A leg 2. Atleast a 0.618 Retracement of A to B leg ( can't exceed A ) 3. 1.272 Retracement of the B to A leg 4. Buy at the D leg ( 1.272 )
The ABCD Rules Of Engagement: 1. 0.618 Retracement of the A to B leg 2. 1.272 Retracement of the B to C leg 3. Buy at the D leg ( 1.272 )
Tom, what kind of chart/candles are these? Thanks.
UnknownUnicorn180388
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Hi,
The chart is hand made by myself to illustrate the strategy's.
I hope this helps.
fxrandal
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Thank you very much! Do you have any recommendation for learning Fibonacci Retracement online?
UnknownUnicorn180388
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No problem at all.
I am working on it as we speak. I wont be posting this onto my blog but i do teach this to my online students.
johan.verm
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Good analysis !...:-)Good luck !
UnknownUnicorn180388
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Thank you.
crazy4tennis
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Very interesting. Bit complicated for more than one or two positions, also your selling on the way up, and buying on the way down. Personally, I would have sold the double top failure .99028, then pressed the position on the falling top fail at .98178
UnknownUnicorn180388
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We should always be cognizant of the information on the charts, however traders should always base their trading plan on their own knowledge and back testing.
Thank you for you feedback.
StevenH
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Very educational thanks, we trade gartleys the same way. Im in the middle of testing them on different pairs to see which pairs they work best on, and on what time frames . I was just curious if you have done any of that kind of back or forward testing on the gartley pattern. Feel free to respond in private chat and Thanks!!
UnknownUnicorn180388
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Hi Stevo,
Yes i have back tested the Gartley, Bat and Cypher on many different pairs, managing to choose 9 as the most profitable long term.
There are other ratio's and confluence i use aswell to determine my bias on a pair, however i haven't written about them on my post as i teach them to students in private lessons.