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Simple & Consistent Fibbing Method

  • #1,521
  • Jun 22, 2010 4:08am Jun 22, 2010 4:08am
Quoting a2xm
Morning all,

Is this correct:

Are we fibbing yesterday's hi-low to find today's Targets (T1 & T2)?
Good Morning a2xm, that is correct.
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  • #1,522
  • Jun 22, 2010 4:09am Jun 22, 2010 4:09am
Quoting sepak.orang
need help..

is this a good swing before the breach?

Attachment

while this one is after the breach.. moving up the fib to the prev high
the blue line is the previous breach.

am i correct to draw the fib like this?

thanks

Attachment
Hi sepak.orang, the first is valid, however the second would hold a strong breach level.
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  • #1,523
  • Jun 22, 2010 4:14am Jun 22, 2010 4:14am
Quoting occamsrazors
Slowly coming to grips with Simone's Fib method. Here's a trade I took a short while ago. I put an intra day fib (blue) on the move up, then put a breach fib (orange fib ) pulled back to low of yesterday. The 50% level - red line (23:15 is the candle I used for the low) was broken once, then PA reversed and stayed below it, giving short signal. PA was also under the 38.2 intra fib level. We got a hammer short bouncing off the trendline so entered short on the next open (yellow dotted line). PA went down to the T1 target. Nice! Hope the above logic...
Hi occamsrazors, Great going, keep it up! Now that the intraday targets have been achieved, as per your chart, you will need to adjust the low of your intraday fib to the new low. The details of when to adjust the intraday fib are in the video in post #1.
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  • #1,524
  • Jun 22, 2010 4:19am Jun 22, 2010 4:19am
The 12am Open of each day usually forms a strong level of support of resistance for trade setups for the day.
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  • #1,525
  • Jun 22, 2010 4:30am Jun 22, 2010 4:30am
Quoting simoneg
Hi sepak.orang, the first is valid, however the second would hold a strong breach level.
hi simone, thanks for your comment.

but looking at occamsrazors screenshot, looks like my fib is drawn differently from swing high to swing low
while occamsrazors is from swing low to swing high.. i mean the direction of the fib
was my approach incorrect?
do i miss something?
  • #1,526
  • Jun 22, 2010 4:32am Jun 22, 2010 4:32am
I did not realize that at all. It should be drawn from swing high to swing low...correct sepak.orang
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  • #1,527
  • Jun 22, 2010 4:40am Jun 22, 2010 4:40am
Hi simoneg,

Could you give us today's analysis? may be with the recent chart?
I'm a bit confuse right now

Thanks..
  • #1,528
  • Jun 22, 2010 4:49am Jun 22, 2010 4:49am
Quoting simoneg
I did not realize that at all. It should be drawn from swing high to swing low...correct sepak.orang
thanks again simone.
but i think it is not what i mean.
i'll post some charts later.
  • #1,529
  • Jun 22, 2010 5:02am Jun 22, 2010 5:02am
Quoting a2xm
Hi simoneg,

Could you give us today's analysis? may be with the recent chart?
I'm a bit confuse right now

Thanks..
Hi a2xm,

Will try to do that later. I am heading out now.
Hero Traders Live to see their Accounts Die!
  • #1,530
  • Jun 22, 2010 5:15am Jun 22, 2010 5:15am
Quoting simoneg
Hi a2xm,

Will try to do that later. I am heading out now.
Sure simoneg, no rush Thanks..
  • #1,531
  • Edited 6:33am Jun 22, 2010 5:57am | Edited 6:33am
Quoting simoneg
Hi occamsrazors, Great going, keep it up! Now that the intraday targets have been achieved, as per your chart, you will need to adjust the low of your intraday fib to the new low. The details of when to adjust the intraday fib are in the video in post #1.
Thanks Simone. Watching the vids each day until it sinks in, but just wasn't sure how far the retrace had to be after the targets achieved. Great
  • #1,532
  • Jun 22, 2010 6:28am Jun 22, 2010 6:28am
madame, big thank for masive reversal theory in your page 15 pdf
  • #1,533
  • Edited 6:40am Jun 22, 2010 6:30am | Edited 6:40am
Quoting sepak.orang
hi simone, thanks for your comment.

but looking at occamsrazors screenshot, looks like my fib is drawn differently from swing high to swing low
while occamsrazors is from swing low to swing high.. i mean the direction of the fib
was my approach incorrect?
do i miss something?
Quoting simoneg
I did not realize that at all. It should be drawn from swing high to swing low...correct sepak.orang
Oops..looks like I need another visit to the vids!...mmmm..... my first trade was from swing low to swing high (second was right way it seems). The reason I did this was because that was the first move of the day I saw after GMT 00:00 (I'm in Melbourne and often trade the asian session). PA made a new daily low then went long. A couple of candles later it retraced so I fibbed from low to high to get intra day targets for this move. Therefore I put the breach fib on from previous low to the high. I know price was in a downtrend but I thought I'm supposed to fib the first move of each day in its direction. Is what I have done for this trade ok if using GMT 00:00 for trading the asian session? (Note while learning I'm also fibbing the first move 12:00 - 3:00am EST USA in order to follow Simone's trades). Appreciate the help. Occam

EDIT: Just realised that the Fib breach is pulled to the previous low there. I did that a bit prematurely as I wanted to see where that level was if PA went short which it looked like doing as PA was under the 50% level of the intra day and initial breach fib (which were the same - hope this is making sense lol)

Here's the chart again so you don't have to look for it...

http://i228.photobucket.com/albums/e...0100122m15.gif
  • #1,534
  • Jun 22, 2010 7:08am Jun 22, 2010 7:08am
Quoting occamsrazors
Oops..looks like I need another visit to the vids!...mmmm..... my first trade was from swing low to swing high (second was right way it seems). The reason I did this was because that was the first move of the day I saw after GMT 00:00 (I'm in Melbourne and often trade the asian session). PA made a new daily low then went long. A couple of candles later it retraced so I fibbed from low to high to get intra day targets for this move. Therefore I put the breach fib on from previous low to the high. I know price was in a downtrend but I thought I'm...
you are doing good occamsrazors!
it is just me that still dont know how to trade..
need to retrieve back all those old materials from my hdd and learn the basics on how to trade.
and i'll keep watching those 3 vids until it sinks in!

and also keep posting your trades with those explanations.. i thinks it was really helpful
  • #1,535
  • Jun 22, 2010 7:15am Jun 22, 2010 7:15am
Quoting iqyusan
madame, big thank for masive reversal theory in your page 15 pdf
Hi iqyusan,

Did today's short target achieve? could you share your today's -34 & -55? thanks..
  • #1,536
  • Jun 22, 2010 1:55pm Jun 22, 2010 1:55pm
Quoting simoneg
Good Morning a2xm, that is correct.
Hi Simone,
Just a small confusion. If that is correct then what is the intraday fib for? You mean whichever targets are closer need to be taken into consideration. And same holds true for the support and resistance. Thanks.
  • #1,537
  • Jun 22, 2010 7:43pm Jun 22, 2010 7:43pm
Quoting desi
Hi Simone,
Just a small confusion. If that is correct then what is the intraday fib for? You mean whichever targets are closer need to be taken into consideration. And same holds true for the support and resistance. Thanks.
That was what I have in my mind too, desi.

These are what I get now, please corrected if I'm wrong:

1. Fibbing from yesterday Hi-Low to find today's main targets.
2a. When we use 50% breach, we also use intraday fib at the same Hi-Low to find the breach targets
2b. Or.. fibbing using intraday fib from today's Hi-Low to find the breach targets
3. And I still don't understand why we keep changing the 0% & 100% of intraday fib when we got a new hi/low price of the day. What the purpose of this Is this a different fib from the question #2 above?

Thanks.. may the green pips be with you..!!
  • #1,538
  • Jun 22, 2010 7:59pm Jun 22, 2010 7:59pm
Quoting a2xm
That was what I have in my mind too, desi.

These are what I get now, please corrected if I'm wrong:

1. Fibbing from yesterday Hi-Low to find today's main targets.
2a. When we use 50% breach, we also use intraday fib at the same Hi-Low to find the breach targets
2b. Or.. fibbing using intraday fib from today's Hi-Low to find the breach targets
3. And I still don't understand why we keep changing the 0% & 100% of intraday fib when we got a new hi/low price of the day. What the purpose of this ...
We could read carefully in page 17 of simoneg pdf document.

intraday trading is the day " progess " .... more detail why we change the breach level and intraday fib is also available in step section in page 17

Hope this could help brother ......
  • #1,539
  • Jun 22, 2010 9:05pm Jun 22, 2010 9:05pm
Quoting iqyusan
We could read carefully in page 17 of simoneg pdf document.

intraday trading is the day " progess " .... more detail why we change the breach level and intraday fib is also available in step section in page 17

Hope this could help brother ......
Ah... yes.. It clears my mind.. sometime it takes time to digest especially when your stomach not well you have to read it over and over to swallow it

Thanks iqyusan.. many green pips for you today
  • #1,540
  • Jun 22, 2010 11:38pm Jun 22, 2010 11:38pm
Quoting a2xm
Ah... yes.. It clears my mind.. sometime it takes time to digest especially when your stomach not well you have to read it over and over to swallow it

Thanks iqyusan.. many green pips for you today
Thank for madame simoneg bro .... not for me ......
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