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Originally Posted by divad
Hi Kubera
I have also been looking at this system and reading the manual again. When you say the charts have to match I presume you mean the signals match?
When you trade do you use the Brain Trend 1 stops?
What exit strategy are you using I have been looking at pivots and shortening stops when approaching. Your Fibo levels that are on your charts how are they produced?
Divad
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Hi Divad,
Yes the chart signals have to mach, so the set of Brain 1 signals on the first chart have to agree with the set of Brain 2 signals on the 2nd chart.
I am currently using the Brain 1 stops.
The fibos are produced from the vegas 4hr tunnel method,
http://www.freewebs.com/mswilson/
(If you haven't seen this before it is a very worthwhile read)
These are dynamic pivots and seem to be much more useful in this 4hr time frame than other kinds of pivot points. Looking back over the past in the 4hr chart we can see that price hits these fibo levels time and time again.
However I am using the Brain system to hold the trade as long as possible,ie follow the trend until it ends. The fibo levels could be used as exit good points, and they do provide a frame of reference as to where price is relative to its average. I think shortening aroung these fibo levels, (or any other line of major support and resistance), is a good idea. The tighter stop can be obatained as a brain 1 stop from a lower timeframe?