Short Term Fibonacci Trades on GBPUSD

[intlmarkets]

Minimum Short Term Target on GBPUSD trade is 1.8009(161.8%) Target 1.7876(261.8%)

[yasirdxb]

Hi

when I applied the techniqe I got the entry point @ 1.2280-85


what went wrong?

[firefly]

Intel

Have you done any backtesting of the simple system. Also how many pips or bars of thrust ( in which timeframe) do you consider enough to go for the setup?

firefly

[intlmarkets]

you are right I was looking at the 0.618 which was at 1.2267 .5 was at 1.2281.
i appologize

[intlmarkets]

I did not do a proper backtest for the system no but i have tried it on many different setups it looks promising you need a minimum impulse of 90 to 100 pips first to apply the setup.

[intlmarkets]

I just reaplied it on EURUSD I got the following
EURUSD
Sell 1.2278 Stop 1.2321 Target 1.2139

[intlmarkets]

On USDCHF I got the following potential Trade:

Buy 1.2505 Stop 1.2460 Target 1.2601

[intlmarkets]

On USDCAD I got the following trade setup:

Sell 1.2508 Stop 1.2552 Target 1.2366