@Alexander_Nikitin when did the second target got hit?
Can you please explain.
Alexander_Nikitin
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@AkshathBharathi, On the chart you see the D-point. It is a potential reversal point wher the limit order is placed to enter long. The targets are calculated as 0.382 and 0.618 of the distance from A-point to the D-point. However, if price goes lower then the projected entry level we should move our D-point according to priceaction. Targets should be recalculated by re-stretching the fibs from A-point to REAL D-point. This is known as targets adjustment. You can find all the rules for trading these types of setups for free here: ps-software.net/learn-the-patterns/
AkshathBharathi
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@Alexander_Nikitin, Holly Molly. last question -How many days it is going to take to get the mastery over this kind of indicators?
Alexander_Nikitin
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@AkshathBharathi, After I have created my indicators it took me about a year to master my skills and start making consistent profits with my indicators. But this is only because I am a developer of my indicators. I don't know how much time it will take for a person to master his skill with my indicators... Probably a bit more, because nobody knows my indicators better than me:)
AkshathBharathi
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@Alexander_Nikitin, I must say you have got the perfect grip. Let me see, let me try.
Alexander_Nikitin
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@AkshathBharathi, Before I have created my indicators I had a six year experience of manual trading... That's not as easy as it might seem.
Alexander_Nikitin
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@AkshathBharathi, I am trying to shorten that time by recording the videos showing the tips for these indicators. Just sharing my experience for people not to make the same mistakes I have been doing...
Good morning Alexander!If I'm reading the chart correctly,the first and second targets are the green lines and the D point is the stoploss (the bad scenario).Am I right?
Alexander_Nikitin
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@gtomi001, hello, the green lines are initial targets.
Can you please explain.