Hi all,
I am a complete newb (lost £300 "gambling" on indices and Forex with IG) and have been reading the Dante "Making Money" thread and the J16 thread with interest. Have not made my way through them yet but decided to practice some of the techniques in realtime with a demo account using Metatrader 4.
I found this setup on the EURAUD daily last night and I don't know if it interests anyone.
The pin on 8/12/08 daily hits a daily S/R pivot (solid red line) and there is confluence with a 38 fib line (not shown). I noticed the pin head was quite large but decided to go wiith it due to the confluence with the s/r pivot and the 38 fib. I went for £100 a pip (I think, volume was a 100 anyway:cheesy
The red dotted line is my stop (1.9242) and the green dotted line is my entry (1.9491).
Profit is currently 70k+. All a demo account though but just thought people would be interested and wondered if I had misread anything and if not then maybe others would have some use of it.
Cheers
Martyn