"I am convinced that He (God) does not play dice." - Albert Einstein
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DislikedFolks,
I am sure most of you would have noticed that indexes are unreliable in these markets. I would suggest using only katy on 15m-30m timeframes or higher if you prefer. Worth following fibos.
I had few hiccups while riding indexes so I started using fibo's and they are working fine for me now!!
I missed the down run on cable as I was travelling for office, I am so upset...
Indexes are for professional traders who can hold drawdowns upto 50 percent, you and me we can't :-) it's not advisable. So I would suggest scrapping them and following...Ignored
DislikedI must agreed with ams on indices not helping with the market here. I have been trying to follow the indices yesterday for my trading and couldn't get anywhere. I missed out a few good trades because the indices is not in sync with Katy. I will try to focus on Katy for now and ignore the indices unless there is big sell off or rally on the indices. Other time I will follow what the COG/Sidus/Asctrend tell me.
I am still struggling a bit with the fibos, especially with the use of x-fibo. Bro ams, can you help to expand on that plase.
ThanxIgnored
DislikedIt's very easy to follow fibs:
Think as you are going up or down through steps, there are 4 imp levels for you to consider, 23x,38x,50x,61x. When you are stepping up you will try to make atleast 23x, if not you will go back to where you started or further away to gain some strenth. Once you have reached the 23x level you analyze if all is well with your health and you are ready for 38x, and so on until 61x where you will make final decision till 100x. Same goes when are stepping down i.e. - fib ratios
Read this article for further refrence: http://www.investopedia.com/ask/answ...etracement.asp
ams...Ignored
DislikedIt's very easy to follow fibs:
Think as you are going up or down through steps, there are 4 imp levels for you to consider, 23x,38x,50x,61x. When you are stepping up you will try to make atleast 23x, if not you will go back to where you started or further away to gain some strenth. Once you have reached the 23x level you analyze if all is well with your health and you are ready for 38x, and so on until 61x where you will make final decision till 100x. Same goes when are stepping down i.e. - fib ratios
Read this article for further refrence:...Ignored
QuoteDisliked
"The recession is losing steam," Ken Goldstein, an economist for the Conference Board said in a statement. "Confidence is rebuilding and financial market volatility is abating." .....
link:
http://www.cnbc.com/id/31424343
DislikedI understand what is finonacci retracement and I know how to do that in MT4. However, what confuses me is how to you use the x-fibo in Katy? When do you know that a particular level will be reached? How do you know that it will move in one direction and not the other? I want to understand how to I use x-fibo in Katy as part of my trading.
Like in the last hour, it move from 1.0 toward 0.786 and half way through it reverse and go back up to 1.0. That's something that I am trying to understand to help me with my trading.
ThanxIgnored
DislikedHere is nice article about fib DOVO .... Written by Bobokus ... I follow these rules religiously in determining R and S zones ... ..Ignored
DislikedThe break of the trendline at the price and fast trix, follow by the signal from the Sidus down channel gave me the signal to short the EU and exited at the next support level. Well it went down further until the 127% level from the last low to today high.
Nice feeling when you get it right.Ignored
DislikedI noticed the price I have with my broker is off quite a bit from those posted by other. In my MT4 platform, I see the following ranges:
EU:
Pivot = 1.3927 slotted in between x_fibo 38.2 and 50.0
North:
.382=1.3976 cluster with x_fibo 76.4
.618=1.4007
1.0=1.4057, cluster with +38.2
South:
.382=1.3877 cluster with low of 2008-06-18
.618=1.3.846 cluster with -23.6
1.0=1.3797 cluster with -61.8
Main trend for today is up so I am thinking that it might reverse the yesterday drop and target 1 is m-fibo 0.382.
I only trade EU so I don't...Ignored