50% fibonacci retracement. You draw Fibs from the bottom/top to the top/bottom of the current swing high/low. I recommend reading some forex basics and checking out some training videos on it, they should be found everywhere on the web Good luck!

james16 Chart Thread

Someone hasn't seen much of Vegas or James16

Is Mouteki really profitable??

Hi! Just wanted to add: I believe that no matter what the results are, this system teaches everyone two very very important aspects of trading: 1. You can trade profitably off of higher timeframes 2. Trading takes patience and faith in your trade (= ...

Is Mouteki really profitable??

Well, we didn't close over 150 but made a pin bar instead. We've been heading down ever since and the pin has been activated/broken. We could very well be dropping off quite a bit, no? Mouteki should signal in 20 minutes in my timezone.

Mouteki Trading

The times they are a'changing — USDJ/JPY didn't give a short signal in my timezone as there never was a close below 117.60. The next viable signals will probably have to be over 118.50 or under 117.60 still. Personally I'd be expecting a long ...

Mouteki Trading

G-Dogg.... You are drawing the TL wrong. Read the doc, true s/r needs to have 2 lower/higher bars next to it in order to be called such. Your 1st point used from the right has a higher candle as neighbor so is not a valid high. Keep this in mind. My ...

Mouteki Trading

In the midnight hour... — ..shine a light.... Hi all, just wanted to give a heads up. I bailed my EJ short when we went back over 150.05 a second time, losing over 60 pips today being silly and trying to short a pair that's been destined for ...

Mouteki Trading

No joy on my timezone, price is getting held back atm. Gold however dropped around 20$ today, this can't be bad for the dollar...

Mouteki Trading

Hi. I don't believe that there are better or worse timezones. The logic works for and against you either way. I'm GMT+2 and I've not had some signals that other timezones had and turned out to be fakes and lossy trades and those that really go will ...

Mouteki Trading

MigFX as well as Neuimex carry it, you can get it via market watch>> show all symbols and making a chart from that or using file/new chart and picking gold bullion...

Daily Trading with ST indicators

Addon: Just wanted to illustrate how even a super-simple approach with Vegas'-4h-Method would reap insane profits on gold these last 2 months, assuming that trend is still down.. As you can see, using either thirds or 2 halves, you could have made ...

Daily Trading with ST indicators

Damn Commies! — <table style="border-style: groove; font-family: Arial; font-size: 7.5pt; width: 100%;" id="NewsIndex" border="0" cellpadding="2" cellspacing="1"><tbody><tr style="color: Black; background-color: White;"><td style="font-weight: ...

Mouteki Trading

Hi! Gold closed under 600$. The monthly bar was bearish and had a low close. Daily put in a pin bar into 606$ resistance. This all suggests we could be going lower again. Potential target areas remain to be 569$, then 550-540$(535$ tops, under that ...

Daily Trading with ST indicators

Hi all! Nice to see such a well made discussion as usual. Personally I would like to emphasize two things when I read "I dont really like the software industry anymore" and "not quite to the point where its yielding any real returns just yet". ...

Big Decision

Hi itme, considering you started out with a target of 125 pips and your stop now being 88 pips large, doesn't this defeat the core concept of LOW! risk and high reward trading and shouldn't acceptance of defeat and a new entry at a better price be a ...

Low Risk, High Reward Trading Experiment

Hi all fellow price pupils I'm curious... Now please don't get me wrong, but why do you trust computer code / MQ4L more than your own eyes? I just find it a bit odd that people would go to great lengths to automate even the most simple thing. It ...

james16 Chart Thread

1h isn't something recommended / I would recommend for pin bars. Daily pins can run for 50-1400 pips (EURCHF pin ran for over 100, Euro pin ran for over 130, Nippy pin gave almost 100 or more depending where you entered, EJ pin just now gave 50-100 ...

What's so revolutionary about pin bars?

Hi Howard. Sorry for being a bit late with a reply to this, but I was chasing around other threads, trying to help people and working on my trading and had a lot of things in "real life" to contend with, so my efforts on backtesting took a bit of a ...

Additional Vegas 4h filter ideas that seem to work(+100% pips), need input please! :)