DislikedUSDCAD 15 min fibs drawn from closing prices (not high to low): {image}Ignored
Thanks for your post though.
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DislikedUSDCAD 15 min fibs drawn from closing prices (not high to low): {image}Ignored
Disliked{quote} I understand that- and I have nothing against that at all. But- to claim that the professionals use this, without definitive proof, is no different than claiming professionals use the star's alignment or GANN dates to trade. What makes you so sure this is the way? and again- have you traded it?Ignored
Disliked{quote} Sorry, I see historical charts with price targets, or ... EXIT points ... all available for you to pick and choose from {GUESS} Good luck convincing anyone this is a legitimate trading system. Guessing on exits does not make for good guessing on entries. Anyone can look backwards and show all the wanna, coulda, shoulda points. It doesn't mean your analysis is incorrect. If you figure out how to use those lines in forward trading, then you could say it was "professional". I only say that because all the "professionals" trade like you Well,...Ignored
QuoteDislikedte simple and I will give you the information you need trade how professional traders trade.
1. Professional Traders use Fibonacci without 50% (You can read up on fibonacci retracements and the math behind it to confirm for yourselveshttp://en.wikipedia.org/wiki/Fibonac...bonacci_ratios)
2. Fibonacci levels are 0, 14.6, 23.6, 38.2, 61.8, 76.4, 85.4 and 100 (There is NO 50%)
3. Reversals occur mostly at 14.6/85.4 and 61.8/38.2
Disliked's qui{quote} Professional traders do not use such silly things like fib levels. Price discovery is a result of supply/demand and nothing else.Ignored
DislikedIt's quite simple and I will give you the information you need trade how professional traders trade. 1. Professional Traders use Fibonacci without 50% (You can read up on fibonacci retracements and the math behind it to confirm for yourselves http://en.wikipedia.org/wiki/Fibonac...bonacci_ratios) 2. Fibonacci levels are 0, 14.6, 23.6, 38.2, 61.8, 76.4, 85.4 and 100 (There is NO 50%) 3. Reversals occur mostly at 14.6/85.4 and 61.8/38.2 4. Traders use WM/Reuters Benchmark Rates as in trading. Not what you have on your chart....Ignored
Disliked{quote} HI GN Not being an ass here but if I use the benchmark rate as you have and select different swing points for the 100% level, I could circle lots of other swing points which coincide with the fib levels on the left of the chart. In order to give some merit to your prior posts perhaps it would be prudent to suggest where the next swing point is likely to be on the right hand side of the chart. Why did you select 138.750 as your 100% level ? Do you anticipate next swing point to be 137.831 ? No offence intended but I can move fibs all around...Ignored
Disliked{quote} This thread is about WM/Reuters Benchmarks and Fibs drawn from that. Not from closes as per your chart. Thanks for your post though.Ignored
Disliked{quote} There are all just lines. S/R determines whether the lines have meaning or not.Ignored
Disliked{quote} You are welcome. Look me up in a year or so when you have finally gotten frustrated. I might be here?Ignored
DislikedIt's quite simple and I will give you the information you need trade how professional traders trade. 1. Professional Traders use Fibonacci without 50% (You can read up on fibonacci retracements and the math behind it to confirm for yourselves http://en.wikipedia.org/wiki/Fibonac...bonacci_ratios) 2. Fibonacci levels are 0, 14.6, 23.6, 38.2, 61.8, 76.4, 85.4 and 100 (There is NO 50%) 3. Reversals occur mostly at 14.6/85.4 and 61.8/38.2 4. Traders use WM/Reuters Benchmark Rates as in trading. Not what you have on your chart....Ignored
DislikedHere is AUDUSD. A 5 Minute Chart! It's just clear how it respects the WM/Reuthers Benchmark Fibs. You can see how .76481 provided Major Support and from which is bounced to where we are now. {image} {image}Ignored