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oxygen4life last won the day on February 16 2020

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  1. Wait for the breakthrough for the continuation of the channel? (1H chart)
  2. I'm in Switzerland and they show the Swiss number when opening the mobile application, maybe try that?
  3. It is april tomorrow and PRT v11 is still unavailable... any update ?
  4. I'm confused as to what you are trying to achieve there. Are you using extensions ? With which 3 points ? I don't get the same results.
  5. Fibonacci only works in trending markets. Fibonacci correctly predicted the 2017 pullback as it was trending upwards, however the market started ranging afterwards with no clear direction. Bollinger bands are better suited for ranging markets.
  6. I agree, I like to see in which wave I am but sometimes it even induces you in error and you really don't need it to be profitable.
  7. FIb is used to get the information where the price will pullback before continuation of the trend, not for trend reversals. Fib retracements can be used with basic trendlines, Fib extensions is a bit more advanced as its target vary depending on which Elliott wave you're currently on. I wouldn't use extensions without Elliott. In your first example as you broke the trendline you need to look at the bigger picture. If the higher timeframe is in a downtrend too, look for an ABC pattern on this timeframe, and a Fib retracement on the higher timeframe from HH to LL to know where it could pullback.
  8. If Fibonacci wasn't profitable it wouldn't be used so widely. It is a great tool in trends on ANY timeframe, I've seen people be profitable using it on the 100-ticks chart. You were talking about Eliott waves on the first post, its principles are 100% based on Fibonacci and traders with 30 years of experience use it daily.
  9. I'd rather use lines, but think of my lines like the center of your zones, because it doesn't matter for me if the price doesn't bounce exactly on it. I think zones are great but I want my daily levels on the chart when I trade small timeframes and zones would just paint the M5 screen black when trading within it. For example for the 13000 level we discussed, if I was trading it I would wait to see a reversal signal on H1/M15/M5 timeframes to enter the trade, doesn't matter if the price goes a little lower.
  10. Because I believe I can do better than a bot when it comes to drawing trendlines and S/R... Just looking at your chart I can tell I would have drawn the lines at different levels. See the support at 12876.9 for example. That is NOT a good support in my opinion, the system just drew a line at the latest lower low. A good support would be at 13000, because the price bounced 5 times (once as a resistance then 4 times as a suppport), and it is a psychological level (round number). Same with the line connecting the highs, it just connected the first high to the latest high, ignoring all the action in the middle. Finally, I don't trade the daily. The system is even worse on lower timeframes.
  11. You can use it with basic trendlines for extra confirmation, e.g. in an uptrend if the price is getting close to the trendline and is also at the 61.8 fibonacci retracement level (from last LL to last HH) a lot of buyers will take this opportunity.
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