Forex-Trading using Fibonacci-Lines and MACD-Divergences

[parsifal23]

Hello Fellow Forex Traders !

I want to introduce my Trading-System which is based on Fibonacci and Divergences : Let´s start with an example : GBP/CAD

Sorry, can´t upload any charts taoday, have to find out what´s the problem.....

 

[parsifal23]

My results for GBP/JPY between 15.01. and 20.01 :


As you can see the image speaks for itself !

The last short trade I got stopped out by a few pips, but as you all know: It´s important to cut loosers short.....

 

[parsifal23]

GBP/NZD -Trade from 16.01 - 17.01

IT´s all in the Price-Action and candlestick-formations, perfect set-up, GB-Retails-numbers I´d expected a positive surprise, traded 6 Cable side-pairs, 894 pips alltogether within one hour on last Friday .

 

[parsifal23]

Gbp/aud -

Trading the retail-sales numbers from past Friday : Of course you have to be Sure entering a trade before News, therefore it´s necessary to read financial and economic newspapers every day about the currency of your choice, information is all important !

 

[parsifal23]

The "FX5-MACD-Divergence" - Indicator you see at the bottom of my charts you can download for free from all Metatraders 4 and 5, if you don´t find it, just google it !
It´s important to use it as confirmation only when price has reached important Support or Resistance-Levels, on higher time-frames ( 1hr and more) the signals are usually more reliable.
Yesterday was a NO-TRADE-DAY; no valid set-ups. better to stay out of the market .

 

[parsifal23]

Gold-short-trade

As you can see on the attached 4 hr - chart my indicator alerted me (audible) to a short trade yesterday evening ( 7 pm MET) . I opened the trade at 1254.50, TP-Target was about 1,6 $ above major support-line at 1237.50, SL-Level I set very tight at 1257 $:
Just in case Gold falls further I placed a pending sell-order at 1230 $; SL at 1238 ( 2 points above former support: now resistance) and TP-Target at BRN 1200.

 

[parsifal23]

EUR/JPY short

After 2 dojis lined up near resistance it seemed the right thing to open a short for a quick 70 pips gain, the trade has been confirmed by my indicator after I´d opened it, nice.

 

[parsifal23]

UK-Employment-Numbers

Hi fellow Traders !

Today my focus was on the British Employment Numbers, no technical, but fundamental analysis for a change.
To sum it up : My positive expectactations were right, all Pound-Side-Pairs I´d traded rose, and I gained 595 pips in total. Reading the Financial Times UK is certainly a good idea if you trade the Pound. The same is true for all other currencies, you have to know the market you´re trading inside out ! I´ll just copy and paste the articles I´ve written on another forum :Because lunch is waiting, and I´m really hungry and certainly deserved it !

 

[parsifal23]

[langtitle=de]USD/JPY - short-trade, triggered by indicator[/langtitle]

A chart tells more tha a thosand words :

102.13 should hold as support line, I´ve entered a long position at 102.30, I honestly hope that it wasn´t too early, there is some danger that the pair may go down further, we´ll see Sunday-Night, SL is at 101,90 in case I´m wrong that´s not too much risk....

 

[parsifal23]

[langtitle=de]Excellent GBP/JPY short[/langtitle]

A really nice 447 pips short trade, one of the highlights of past week : :Candlestick-Pattern was clear enough, went down all the way to major support, my long-entry might have been a little too early again. In the worst of all cases 45 pips will be lost, that leaves me still with 400. I should defintely be a little more patient sometimes.