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-   -   Trading Fibonacci Time Zones and Support and Resistance? (https://www.forexfactory.com/thread/402357-trading-fibonacci-time-zones-and-support-and-resistance)

Starry Dec 27, 2012 1:33pm | Post# 1

Trading Fibonacci Time Zones and Support and Resistance?
 
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Hello all! I was wondering if anyone had any experience trading fibonacci time zones and timing entry with support and resistance and price action. I got this idea from
http://www.dukascopy.com/fxcomm/fx-a...on=read&id=734

Its uncannily accurate.
Heres an example. What you do: plot the zigzag indicator on the chart. Use default settings (12 5 3). Draw a fib time extension from any two peak highs or two peak lows. Right click the fib time zone and select properties. delete everything except the following levels: 0, 0.618, 1, and 1.618. Now, you have a projected future price where a turn around will occur, at least temporarily. Look for price action reacting around support and resistance at this time. Enter the trade.

The blue rectangle is a time zone formed by using the fib time zone on a bar to the right of the top formed by the zigzag indicator, since tops arent precise. As you can see, we formed a spinning top (or is it a hammer?) and then later a inverted hammer. Entering at the hangman would've been successful.

You can literally draw this time zone on any two peak highs and peak lows and see how price reacts around the 1.618 line. Be careful with peaks that are flat, draw the time zone from the middle of those even if the zigzag is slightly different. Pretty neat eh?

Anyways, does anyone have any insights/trades using fib time zones (the 1.618 is golden ratio btw)

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Starry Dec 27, 2012 1:40pm | Post# 2

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Another example. Sometimes it wont work but llots of times it gives you times at which you can look for a trade.

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Starry Dec 27, 2012 2:14pm | Post# 3

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Heres a better (in my opinion) zigzag indicator, atleast better than the default settings.


swing_zz.mq4

ForExtraPips Dec 27, 2012 8:48pm | Post# 4

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Anyways, does anyone have any insights/trades using fib time zones (the 1.618 is golden ratio btw)
Interesting. I'm currently on a Golden Ratio/fib ratio/time zone kick. I never thought of changing or using 1.618 or 0.618 in the settings on the time zone. Here's a quick drawing I did based on this info, in regards to connecting the dots, with trend lines. I took a swing high/low and did a fib retracement, then I did another fib retracement from the same swing, but reversed. From the low/high. That way, I was able to get the Golden ratio going both ways, top and bottom. Then added the 61.8 on both, also. Then added the time zones with the Goldlen Ratio in there. That's what I like about reading up on these forums. Somebody else posts something, then that sparks an idea. Thanks for sharing. I'll be giving this a try with these turning points.
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ForExtraPips Dec 28, 2012 8:06am | Post# 5

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Just woke up. Here's an after shot of the same chart from above. Notice where price touched the lines, based on the Golden Ratio. And how it dropped afterwards. And where it stopped at. Interesting. Thanks again for the idea.
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Starry Dec 28, 2012 10:37am | Post# 6

you're welcome!

ForExtraPips Dec 29, 2012 12:11am | Post# 7

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One more for you, before bed. Based on the Golden Ratio within Time Zones.
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Starry Dec 29, 2012 11:35am | Post# 8

Wow, i have no clue what that means But its pretty! Mustve taken alot of time.

forexcasting Dec 29, 2012 2:03pm | Post# 9

Thanks for the idea Starry. Will try on Historic data and get back to you.

samansadeghi Oct 3, 2013 1:53am | Post# 10

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aud usd m15
looking for sell
price=ok
time=ok
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samansadeghi Oct 3, 2013 2:12am | Post# 11

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euraud h1
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samansadeghi Oct 3, 2013 2:43am | Post# 12

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gbpusd h4
CRAB
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mattkirby Oct 3, 2013 3:31am | Post# 13

Hi Saman,

do you use a pattern indicator to find the harmonic pattern? If yes which one? Or do you draw it by hand?

samansadeghi Oct 3, 2013 3:53am | Post# 14

Hi Saman, do you use a pattern indicator to find the harmonic pattern? If yes which one? Or do you draw it by hand?
hi mattkirby
no i didnt use indicator.

samansadeghi Oct 3, 2013 4:58am | Post# 15

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usdcad buy
wish me luck
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samansadeghi Oct 3, 2013 11:47pm | Post# 16

usdcad buy wish me luck {image} {image}

closed -9 pips

samansadeghi Oct 3, 2013 11:48pm | Post# 17

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GBPJPY
weekly=BUTTERFLY
H4= Head And Shoulder
H4=regular divergence(RD)
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castaluna Dec 28, 2015 1:51pm | Post# 18

What happened to this thread? Please come back.

Gauer Mar 22, 2019 8:33am | Post# 19

How do you make the fibo time zone indicator display the ratios instead of numerical sequence (1,2,3,4, etc).

The one that comes with MT4 only display a numerical sequence, not the ratios. And you can't configure the ratios you want.

newhope May 31, 2019 1:18pm | Post# 20

Hello all! I was wondering if anyone had any experience trading fibonacci time zones and timing entry with support and resistance and price action. I got this idea from http://www.dukascopy.com/fxcomm/fx-a...on=read&id=734 Its uncannily accurate. Heres an example. What you do: plot the zigzag indicator on the chart. Use default settings (12 5 3). Draw a fib time extension from any two peak highs or two peak lows. Right click the fib time zone and select properties. delete everything except...
Wow, it is a very looooong time ago ... Sweet memories ... i've missed this one. Thanks a lot Starry


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