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AUDCHF 5-8-13 analysis exampleToday we are going over another trading technique. This is the short term 5-8-13 (fibonnaci) trading. This is an old but good method as well. Bottom line is, when the faster 2 MAs (moving averages) cross the slower line in either direction, you place an order. Exits and SL are up to you with account size, TF you're using and risk you're willing to take... Here is an example (potential) setup. Posting now so you can click later to see if the lines crossed and what sort of gains (or losses) you would expect. Hope you enjoy. The moving average settings are Simple, and median... close is too slow and open is sometimes too early or not great signals.
by forexfreaks
1
2 BATS?Hello traders! We are monitoring the development of a second Bat pattern developing here on the Euro Pound. We are just below a resistance area and we might see a pullback after we get our D point to complete this pattern. It's a minor downtrend so a setup like this would give us another short opportunity that may create a right shoulder as well. This is an idea and so we would wait to see confirmation before placing these orders. We are also looking at an ABCD pattern which I won't exploit in this publication. We will be monitoring price action at the potential reversal zone (PRZ). Traders should not predict the market but react from it. Trade smart, don't gamble!
Short
by PipTips
1