Hello, guys! Recently I've made up a strategy and I now am trying to develop it to gain most profit available. The fact is that I would really appreciate some piece of advice, some help, to be frank. Here's the strategy.
I use euro\usd and :
Heikin Ashi 4-hour,
BT1 & 2 clones 4-hour,
Fibo lines, adding 11.8%, 76.4% lines, plus all of them projected forward (that is after 0 line goes -11.8, -23.6 and so forth) at 1 hour chart.
Every evening, closer to 19:00 GMT, I put fib lines on chart, using day's high & low. Then I look at 15:00 (GMT) candle.
If all indicators show upward move, I BUY at the opening of the 19:00 candle.
TP will be the 3d upper fib line, counting from 19:00 open.
SL - I measure the number of points from 19:00 open to the 2d following fib line. Then I measure the same number of points downwards, from 19:00 open, and put SL at the farthest fib line. It's hard to understand this way, so I'll attach a picture a bit later.
SELL is all the same. Indicators should show down move. TP - the 3d fib line from 19:00 open. SL - count upwards.
I'll post pics and explain all this again. It'll be easier. So I wait for your critics (constructive), questions and suggestions. Thank you in advance.
I use euro\usd and :
Heikin Ashi 4-hour,
BT1 & 2 clones 4-hour,
Fibo lines, adding 11.8%, 76.4% lines, plus all of them projected forward (that is after 0 line goes -11.8, -23.6 and so forth) at 1 hour chart.
Every evening, closer to 19:00 GMT, I put fib lines on chart, using day's high & low. Then I look at 15:00 (GMT) candle.
If all indicators show upward move, I BUY at the opening of the 19:00 candle.
TP will be the 3d upper fib line, counting from 19:00 open.
SL - I measure the number of points from 19:00 open to the 2d following fib line. Then I measure the same number of points downwards, from 19:00 open, and put SL at the farthest fib line. It's hard to understand this way, so I'll attach a picture a bit later.
SELL is all the same. Indicators should show down move. TP - the 3d fib line from 19:00 open. SL - count upwards.
I'll post pics and explain all this again. It'll be easier. So I wait for your critics (constructive), questions and suggestions. Thank you in advance.