Well bobby...I cant bring back the loss but maybe I can help eliminate future losses of that type for you or anyone else interested in my method with zigzags but it will call for addition or probably some changes to your chart.This is what the layout looks like on current H4 EUR/NZD...this pair is poised for a runup but is yet unproven.If you look closely you will the blue lines in lower right which is a fib expansion tool.Its set from recent bottom to top of countertrend zigzag then anchored again on another move thats WITH the major trend.With these anchor points the pair is on watch for a long...if it breaks my consolidation area to topside then target may be as high as 161.8...this being an H4 it might not gel that well..but on M5 or M15 I expect reversal target to be 100% to 161.8%. If this pair drops below the zag line at 1.6324 I will not take the long but if it begins to support at 50% on the expansion tool I will be going long with a starting position and probably add on support of 61.8. This is hard to describe without using a video but this method is based on zigzags...fib expansion tool and properly understanding countertrend market moves and what they tell you as a pair is near support/resistance.I actually have just started using it a lot on M5 chart and yesterday made some really nice scalps on M5 beast chart trading both ways..long and short.Some scalps I closed at 100% but several went textbook perfect and nailed the M5 161.8% mark. The method not only keeps you out of major trouble but defines target for TP with near surgical precision at times.Heres how it looks and maybe I can do an M5 beast chart later on both long setups and short setups.
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