[DAX30 June 21]

Wait for the breakthrough for the continuation of the channel? (1H chart)

[CANNOT CLOSE POSITION]

Looks like it's back working

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1 minute ago, Elements50 said:

Hello. I'm in Singapore. The local number is engaged. 

 

I'm in Switzerland and they show the Swiss number when opening the mobile application, maybe try that?

[CANNOT CLOSE POSITION]

Just saw the following

Quote

Investigating - There are currently issues with trading on our platforms. We're investigating now at the highest priority. If you need to deal, please call +44 207 896 0079.

 

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I hope SL and TP orders are still working??

[ProRealTime v11]

20 hours ago, Guest Homer Enronride said:

https://www.theguardian.com/world/2020/mar/31/rise-in-depression-and-anxiety-day-after-uk-lockdown-announced-study-coronavirushttps://www.theguardian.com/world/2020/mar/31/rise-in-depression-and-anxiety-day-after-uk-lockdown-announced-study-coronavirus

There isn't even a lockdown in my country

[ProRealTime v11]

It is april tomorrow and PRT v11 is still unavailable... any update ?

[Fibonacci without Elliot Wave?]

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.

[Fibonacci without Elliot Wave?]

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.

[Fibonacci without Elliot Wave?]

40 minutes ago, dmedin said:

I love the idea of fractals and waves within waves, but it's just more than I can deal with.  Simpler is better ...

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.

[Fibonacci without Elliot Wave?]

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.

[Fibonacci without Elliot Wave?]

9 minutes ago, dmedin said:

Fibonacci is only ever useful when used in hindsight and you deliberately manipulate it to line up with certain historical price points.  😞

 

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.

[Fibonacci without Elliot Wave?]

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.

[Fibonacci without Elliot Wave?]

3 hours ago, dmedin said:

PRT can draw S/R for you ... why not just leave it to the machine?

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.

[Fibonacci without Elliot Wave?]

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.

[ProRealTime v11]

Hello,

Any update on PRT v11? Here someone was saying beginning of February, can we expect it in the next few weeks?

Kind regards,

Paul