[fxbaja]

July 7th breakout of U.S. low.

A = 17:30 high 1.2646
B = 19:25 low 1.2612
C = 21:40 high 1.2634

U.S. Low = 1.2612

FE 100 = 1.2599
FE 127 = 1.2590
FE 161.8 = 1.2578 (Target) Hit 04:15

Hit at/near target at 04:15, after many hours of consolidation.

-----------------------------------------------

July 7th breakout of Asian Low

This actually turned out to be the finish of the previous extension, hitting the 236.2 fib.

A = 06:20 high 1.2601
B = 07:35 low 1.2567
C = 07:50 high 1.2590

Asian Low = 1.2567

FE 100 = 1.2556 (hit)
FE 127 = 1.2536
FE 161.8 = 1.2511 (target) not reached

This trade opportunity either has take profit at/near the FE 100 or break-even (moved stop-loss).

------------------------------------------------

July 7th breakout of Asian high.

A = 12:15 low 1.2562
B = 13:40 high 1.2610
C = 13:50 low 1.2595

Asian High = 1.2624

FE 100 = 1.2643 (Target)
FE 127 = 1.2655
FE 161.8 = 1.2673

Entry Offered = 14:35 opening candle price of 1.2629 + spread = 1.2632

Stop-loss just below 14:20 pivot 1.2613 – cushion = 1.2611


Risk = 21 pips
Reward = 11 pips

This is a pass due to poor of risk/reward ratio.



Extension did hit the FE 100 during 14:50 candle.

[a.j80]

Originally Posted by fxbaja

Optional Indicators:

Fractal
ADX Cross
Gann Hi-Lo Activator
Ichimoku
Heiken Ashi
Keitner Channel_v1
FX Sniper’s Ergidic CCI & Trigger
Forex Freedom Bars
MTF Heiken Ashi (sw)

Adjustments:
Add 78.6 fib
Add price display to each fib line. Type in %$ after fib number.

Hi! Could you please tell me where can I read the manual about these indicators???
Thanks in advance.

[fxbaja]

Originally Posted by a.j80

Hi! Could you please tell me where can I read the manual about these indicators???
Thanks in advance.

One source is the mq4 community.

The Ichimoku Indicator Alternative Ichimoku – Setup, Examples of Usage - MQL4 Articles

Also in MT4 terminal, MetaEditor or go to: MQL4 Code Base: custom indicators for MT4

Should have most indicators. Otherwise google. Sometimes, it's in the formula or directs one to web site.

[fxbaja]

We need to look at the 15-min chart, using the Heiken Ashi candles to ascertain the ABC swings.

A = 10:20 low 1.2642
B = 12:00 high 1.2677
C = 12:15 low 1.2655

Asian High = 1.2687

FE 100 = 1.2690
FE 127 = 1.2699 (hit)
FE 161.8 = 1.2712 (target)

Large distance between Point B and Asian high, 13 pips including spread.

Stop-loss = just below 13:10 candle low of 1.2675 + cushion = 1.2673

Entry = 13:35 1.2688 + spread = 1.2691

Take Profit Target = 1.2712 - spread and cushion = 1.2708

Risk = 18 pips
Reward = 17 pips

Once extension moves pass the FE 100, we move the stop-loss (S/L) to at least break-even or just below the FE 100.

In this case S/L was moved just below the FE 100 at 1.2688.

Extension only reached the FE 127, but failed to confirm above. This means it failed to close a 5-min candle above that price level. If it did, we would move our stop-loss to just below that FE 127 price.

End result is a small loss of 3 pips, if trade taken.

The pair eventually hit the FE 161.8, but after a large retrace to below Point C, which would have stopped us out.

----

Note:

To set our retrace fibs to make sure Point C is correctly plotted:

Low = 10:20 1.2642
High = 12:00 1.2655

This was Point A to Point B.

You'll see on the 5-min, a slight probe below our Point C price used (1.2655). We stayed with 1.2655 as Point C because that is the 61.8% retrace price of A-B.

[fxbaja]

Originally Posted by a.j80

Hi! Could you please tell me where can I read the manual about these indicators???
Thanks in advance.

BTW, think I mentioned it, you don't need most of those indicators for this ABCD technique.

The freedom bars simply show 4 time frames in red or blue denoting down or up trend.

This technique is based on Fibonacci ratios, using thrust from breakout of previous session (mainly breakout of Asian).

Having too many technical indicators on your charts is not a good idea.

[fxbaja]

July 9th Breakout of Asian Low

A = 06:45 high 1.2722
B = 07:40 low 1.2687
C = 08:20 high 1.2708

Asian Low = 1.2674

Entry SELL 09:05 = 1.2667

Stop-Loss Options (add spread):

- Just above 09:50 pivot 1.2686, which was also the FE 61.8 + spread and cushion= 1.2690 (Risk = 23 pips)

- Just above 08:40 pivot 1.2694 + spread and cushion = 1.2698 (Risk = 32 pips)

- Just above Point C 1.2708 + spread and cushion = 1.2712 (Risk = 45 pips)

Take Profit Targets (add spread)

FE 100 = 1.2672
FE 127 = 1.2662
FE 161.8 = 1.2649 + spread and cushion = 1.2653 (target) hit

Risk = 23
Reward = 14

This was a Move-In-Progress or Extension-In-Progress. Distance of B from Asian low lost 13 pips.

If one trades this breakout based on a 15/15 pip strategy, it was a winner if took profit at +14 pips. The ABCD technique and projections guided on exit.



The 2nd ABC:

A =08:20 high 1.2708
B = 09:00 low 1.2661
C = 11:25 high 1.2683

FE 100 = 1.2636
FE 127 = 1.2623
FE 161.8 = 1.2607 (hit)




Cheers and have a good weekend.

[fxbaja]

July 12th Breakout of Asian Low
Attached chart is 5-min, swings easier to see/understand on 15-min.

A = 05:55 high 1.2605
B = 07:30 low 1.2565
C = 08:40 high 1.2589 (61.8% retrace of A-B)

Asian Low = 1.2565 (same as B)

FE 100 = 1.2549 (hit)
FE 127 = 1.2538
FE 161.8 = 1.2524 (target)


Fibo Fan:

00:10 high 1.2645
02:00 low 1.2587

If Fibo Fan pulled on 15-min chart, and then flipped to 5-min, we can see resistance points provided by 78.6% fib.

It was choppy on the way down, with extension only reaching the FE 100. As each pivot formed on the 5-min, we can move our stop-loss. Therefore, since we targeted the FE 161.8, this trade was break-even or a small loss.

This was a Move-In-Progress, extension from larger ABC:

A = 00:10 high 1.2645
B = 02:00 low 1.2587
C = 04:10 high 1.2609

FE 100 = 1.2550 (hit)

[fxbaja]

EUR/USD 5-min Chart:

A = 09:00 low 1.2530
B = 10:05 high 1.2595
C = 12:30 low 1.2564

Asian High = 1.2614

FE 100 = 1.2629
FE 127 = 1.2647
FE 161.8 = 1.2669 (hit)

Since Point B was quite a distance from the Asian High (19 pips + spread), and target is the FE 100 (based on our rules), we did not like the risk/reward of this trade scenario.

Fortunately it pivoted again after breach of Asian High.

A = 12:30 low 1.2564
B = 13:10 high 1.2634
C = 13:20 low 1.2623

FE 100 = 1.2693 (target)
FE 127 = 1.2711
FE 161.8 = 1.2736 (hit)

Entry 13:40 open 1.2636 + spread = 1.2639

Stop-loss Options:

Below Point C of 1.2623 - cushion = 1.2621

Below Asian High
Below first ABC's FE 61.8 fib

Risk = 18 pips
Reward = 53 pips

Will post chart next time, as can't seem to get it to work at the moment.

Cheers

[fxbaja]

After EUR/USD breakout on July 13th, pair went into consolidation for nearly 3 sessions.

We used the 15-min chart to ascertain the ABC swings. The quick probe (candle wick) at 13:10 to 1.2682 was probably not recognized by most broker's trading platform.

Therefore, we utilized Point C as per below, which was established twice.

A = 14:40 low 1.2658
B = 20:35 high 1.2737
C = 07:15 low 1.2690

Asian high = 1.2734

FE 100 = 1.2770 (hit)

Entry = 15:05 at 1.2749 + spread = 1.2752 as breakout candle on 5-min chart quite large (fast).

Stop-loss options include:

- Just below Asian High of 1.2734
- Just below 1-min pivot of 1.2725
- Just below Point C pivot of 1.2702
- Just below 23.6% retrace fib of A-B price 1.2718
- Just below 38.2% retrace fib of A-B price 1.2707

If 1-min pivot was used for S/L. The loss of pips due to large breakout candle resulted in our entry rule dismissing this trade due to poor risk/reward. Risk = 27 pips Reward = 17 pips

Alternatively, if S/L was based on Asian high: Risk = 19 pips Reward = 17 pips.

This plot was unusual, and probably not covered before in this thread.

There was also a tighter ABC pull. See the 5-min chart and plot most recent swings before breakout. The target would have been the FE 161.8 price of 1.2757. Its Point B (1.2716) was very far (18 pips) from Asian high.

Another reason we did not like the tighter pull was due to highs above the Point C, which were established during the same session.

[fxbaja]

EUR/USD 15-min Chart.

A = July 14th 07:15 low 1.2690
B = July 14th 15:45 high 1.2777
C = July 15th 00:45 low 1.2708 (78.2% retrace of A-B)

Asian High = 1.2763 (notice Point B is higher)

Entry 1.2789 (open of 08:50 candle)

FE 100 = 1.2795
FE 127 = 1.2818
FE 161.8 = 1.2849

Stop-Loss:

- just below 5-min pivot 1.2762 (almost same as Asian High)

Due to low reward, based on entry rule, must target more than the FE 100, or pass on this trade using this entry rule.

The use of a higher Point B negated the better reward offered with entry on breach of Asian High. This is the price we pay for being more conservative, as extension could have retreated/bounced off of that price level.


A 15/15 pip strategy was a winner.

Note: again we omit that quick probe to 1.2682 (for Point C).