DislikedApology accepted. Now can you please tell us more of your wrong stuff and what you know nothing about?Ignored
Robonacci com
COT trading system with free indicator 297 replies
No Free Lunch but all the Free Coffee you can drink 736 replies
SWAP free, rollover free Broker? 15 replies
How to free indicator resources? indicator called from EA 6 replies
DislikedApology accepted. Now can you please tell us more of your wrong stuff and what you know nothing about?Ignored
Disliked@Skunny: I know you're busy, but... It seems there were quite a few people here that took this GJ trade that happened to fail going short (see chart). The only things I could see in this chart was that the weekly target had already been reached, price breached the weekly low and traded below it again, and that this was a smaller trade within a larger range.
GT,
I'm definately not Skunny Sensi, he's got the real answers, but I was also looking for this to go further down. What I noticed, is the same thing I have noticed at other times when the market was about to turn. First, on a small timeframe, fibs start to activate and then fail to reach their targets. You may see this 5 or 6 times in a row and at the same time you'll have larger time frame fib(s) fail as well. The failed fibs then activate and complete on the other side and price moves in that direction. This allows you to see (on a micro level if you will) the market changing direction. This happened three times last night when the market reached the lows. I didn't save my fibs, as it gets way too messy when you keep those small time frames on the chart as it moves. And I'll reiterate something that Issy said earlier, that it is best not to get focused on the smaller timeframes, but it helps to see what is really going on, especially when the market stalls. Hope this helps.Ignored
DislikedI'm definately not Skunny Sensi, he's got the real answers, but I was also looking for this to go further down. What I noticed, is the same thing I have noticed at other times when the market was about to turn. First, on a small timeframe, fibs start to activate and then fail to reach their targets. You may see this 5 or 6 times in a row and at the same time you'll have larger time frame fib(s) fail as well. The failed fibs then activate and complete on the other side and price moves in that direction. This allows you to see (on a micro level if you will) the market changing direction. This happened three times last night when the market reached the lows. I didn't save my fibs, as it gets way too messy when you keep those small time frames on the chart as it moves. And I'll reiterate something that Issy said earlier, that it is best not to get focused on the smaller timeframes, but it helps to see what is really going on, especially when the market stalls. Hope this helps.Ignored
Disliked
did u guys read my last post? maybe this is the answer...if u like i will tell u my theory and u all can test it...boy i m glad i wasnt short there... he heIgnored
DislikedSizz what would you consider a valid completed swing. Only drawing (walking) off one that previously hit it's target?
It was simply a trade within a larger trade set up. As I mentioned before, there was a larger swing range in place, but the smaller ones within work well too. Just not this time.
Hmmm. Okay. I think I can make sense of this. I'm not the only one here who seen this a valid trade, so I am sure others here will benefit from the comments. P.S. Thanks for the notes on the chart!! Really helps when saving pics to recap on at a later date.Ignored
Disliked@Skunny: I know you're busy, but... It seems there were quite a few people here that took this GJ trade that happened to fail going short (see chart). The only things I could see in this chart was that the weekly target had already been reached, price breached the weekly low and traded below it again, and that this was a smaller trade within a larger range.
You said before that if a trade failed, "please post the chart so someone could look at it". Could you please give us some guidance, or a possible reason as to why this one didn't work out like several here had expected?
Much appreciated!
GT (Jon)
@Pipo: Curious if you were fibbing this chart too? If so, could you kindly share with us how you walked your fibs during the process?
Thanks!Ignored
DislikedSee attached chart for the set up I had in place for whichever way the trade developed. It looked to me as if it was going long based on previous hint.
P.S. I know this stuff can be confusing, but the longer you watch the fibs and realize there are other motives around (weekly and daily targets) the more you play out the moves in your head. You come up with scenarios and when one of those begins to play out its like a road map telling you where to trade. I try not to trade until then.Ignored
Disliked@Skunny: I know you're busy, but... It seems there were quite a few people here that took this GJ trade that happened to fail going short (see chart). The only things I could see in this chart was that the weekly target had already been reached, price breached the weekly low and traded below it again, and that this was a smaller trade within a larger range.
You said before that if a trade failed, "please post the chart so someone could look at it". Could you please give us some guidance, or a possible reason as to why this one didn't work out like several here had expected?
Much appreciated!
GT (Jon)
@Pipo: Curious if you were fibbing this chart too? If so, could you kindly share with us how you walked your fibs during the process?
Thanks!Ignored
Disliked...But what if in order to be "perfect and flawless" you've passed on 30 trades and of those 30 you would have messed up 15% of them due to your own buffoonery, not your system? Of those 30 trades you would have netted 2000 pips. Now does it make sense to only take the supposed "perfect flawless trade"?...Ignored
DislikedHey Grid, thanks for using my chart as an example of a failed fib
But seriously... I think me - and some others - have been impatient to draw a fib and to trade. So we used the small swing yesterday to find a fib opportunity for the sake of it.
But as sizzler and pippro showed... this move was a move inside a bigger swing.
So here, when fibbing just the visually obvious swings (and not everything that comes across) our swing was just a retrace to the inner 61.8, followed by a 38 extension hit and reaching some pips shy of the 62 extension.
And as the bigger swing (shown below) wasn't finished yet, there was no reason to draw a new, smaller one.
So as I have no more indis on my platform... now it's just the patience I have to acquire!
Any comments?Ignored
DislikedI was at work so I had to use your chart. Of course I had one drawn the same . IMO, a move inside a bigger move is not so bad though, as long as the target of the smaller swing does not exceed the boundaries of the larger swing targets. Please sombody disagree and tell me why this is not good. Did not Skunny show a statement that included both shorts and longs, and did he not mention trading in hedge fashion? So opposite direction was present and my guess is that he takes the smaller trades too. Recall the posts of him grabbing just a few pips off a 2 bar fib? Sorry to ramble on here. Everyone has made valid points, but I don't think a smaller swing trade within a bigger one is wrong. If that was true, then why trade 1HR when we are looking at weekly fibs? Am I making any sense?Ignored
DislikedI really enjoy reading everyones analysis. (even when it's not correct)Ignored
DislikedHey Grid, thanks for using my chart as an example of a failed fib
But seriously... I think me - and some others - have been impatient to draw a fib and to trade. So we used the small swing yesterday to find a fib opportunity for the sake of it.
But as sizzler and pippro showed... this move was a move inside a bigger swing.
So here, when fibbing just the visually obvious swings (and not everything that comes across) our swing was just a retrace to the inner 61.8, followed by a 38 extension hit and reaching some pips shy of the 62 extension.
And as the bigger swing (shown below) wasn't finished yet, there was no reason to draw a new, smaller one.
So as I have no more indis on my platform... now it's just the patience I have to acquire!
Any comments?Ignored
DislikedGrid,
Now that PiprPro has shown us the light.......
I went and zoomed out on the U/J 1HR chart and I see the U/J set up was identical to the alleged G/Y failure. All the signs were there for a trend reversal.
*** edit, so now with the new fib TP1 should be at 107.50 .....we'll see ***Ignored
DislikedI was at work so I had to use your chart. Of course I had one drawn the same . IMO, a move inside a bigger move is not so bad though, as long as the target of the smaller swing does not exceed the boundaries of the larger swing targets. Please sombody disagree and tell me why this is not good. Did not Skunny show a statement that included both shorts and longs, and did he not mention trading in hedge fashion? So opposite direction was present and my guess is that he takes the smaller trades too. Recall the posts of him grabbing just a few pips off a 2 bar fib? Sorry to ramble on here. Everyone has made valid points, but I don't think a smaller swing trade within a bigger one is wrong. If that was true, then why trade 1HR when we are looking at weekly fibs? Am I making any sense?Ignored
DislikedWell it's becoming obvious that I don't know as much as I thought I did in regards to reading price. And why is the 76.4 retracement level (piphitmans chart) so important? Most here don't use that level as far as I am aware. The 161.8% is also said to be an ideal reversal point, but that doesn't always work out either, and time frames do differ. I could really use some pointers here on studying S/R. Yes PiprPro, this can be confusing. I do look at the charts (and quite a bit actually). Remember I'm the guy that has dreams at night where I'm trading! LOL. I don't want to hog all the posts (forgive me everyone). PiprPro, do you think you could briefly re-comment your chart with my questions written on it?
Thanks all.Ignored