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Using WM/Reuters Benchmark Rates in trading

  • #1
  • First Post: Edited Jun 8, 2016 9:33am Feb 11, 2015 11:32am | Edited Jun 8, 2016 9:33am
Charts use Fibonacci
You can read up on fibonacci retracements and the math behind it http://en.wikipedia.org/wiki/Fibonac...bonacci_ratios)
  • #2
  • Feb 11, 2015 11:41am Feb 11, 2015 11:41am
Now that we have the monthly charts I will provide examples of how to continue drawing fibonacci levels within these levels to see how the price behaves and will use
EURGBP as an example.

See how the price behaves around the fibonacci levels? You can go as far as 1minute to see how it behaves if you want more proof of how professional traders trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP_DAILY.png Size: 40 KB
Click to Enlarge Name: EURGBP_HOURLY.png Size: 74 KB
Click to Enlarge Name: EURGBP_15M.png Size: 49 KB
  • #3
  • Feb 11, 2015 11:46am Feb 11, 2015 11:46am
Here is the latest EURUSD Chart with a 5Minute and a 1Minute close up. Just of the fibs within fibs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_5M.png Size: 63 KB
Click to Enlarge Name: EURUSD_1M.png Size: 63 KB
  • #4
  • Edited 12:31pm Feb 11, 2015 11:57am | Edited 12:31pm
So where to the numbers come from?

They come from the WM/Reuters as I shared above.

So each pair has a START date that can be found here: http://extranet.datastream.com/Codes...ge%20Rates.xls

So using EUR/USD as the example, we can see that the Benchmark started on December 31, 1993 and unless you pay hunderds of dollars to access bloomberg or the Thomson Reuters datastream terminals you won't ever know what the Benchmark was on that date. I have the information and it December 31, 1993 the EURUSD Benchmark was 1.115


So knowing that 1.115 is the START of the Benchmark, we can find the next swing high using the same data and see that the swing is 1.348 (you dont have access to this information, but you can see the charts above to confirm how price behaves -- especially at the 61.8 and 14.6 Fib levels).

Some of the start dates for the pairs are VERY OLD going back to 1957 so it is impossible for the retail trader to even have chart from their broker that displays information that far back.

If you have any more questions feel free to ask and let's smack those Professional Traders upside the head.
  • #5
  • Feb 11, 2015 12:08pm Feb 11, 2015 12:08pm
Hello,

I totally agree with what you are saying. Fibonacci levels make sense to me, but how do know which of that level will hold? Markets respect these levels a lot but you only see it after it had happened..
  • #6
  • Feb 11, 2015 12:09pm Feb 11, 2015 12:09pm
Amazing...
Buy at the Low, Sell at the High You make money by waiting not by trading.
  • #7
  • Feb 11, 2015 12:11pm Feb 11, 2015 12:11pm
Quoting cristian23
Hello, I totally agree with what you are saying. Fibonacci levels make sense to me, but how do know which of that level will hold? Markets respect these levels a lot but you only see it after it had happened..
Yes, I agree you only know what the price does after it happened. BUT you know before the price gets there what the level is and you can see how the price behaves at 14.6/85.4 It usually reverses.

And these Fibonacci leves are NOT the ones that you have used before. I guarantee it. Just draw them on your charting software and see for yourself how it behaves.
  • #8
  • Feb 11, 2015 12:13pm Feb 11, 2015 12:13pm
Quoting Lacunoide
Amazing...
Yes, and it's been kept from us.
  • #9
  • Feb 11, 2015 12:20pm Feb 11, 2015 12:20pm
I like your approach and the strategy, but to get your document I have to pay 10usd on webpage which pays money to uploaders for sharing documents ... is there any reason why this document is on this page or this thread should be in the commercial section?
  • #10
  • Feb 11, 2015 12:21pm Feb 11, 2015 12:21pm
Quoting GreatNorth
So where to the numbers come from? They come from the WM/Reuters as I shared above. So each pair has a START date that can be found here: http://www.docstoc.com/docs/16397372...tream-Extranet So using EUR/USD as the example, we can see that the Benchmark started on December 31, 1993 and unless you pay hunderds of dollars to access bloomberg or the Thomson Reuters datastream terminals you won't ever know what the Benchmark was on that date. I have the information and it December 31, 1993 the EURUSD Benchmark was...
Thanks for sharing. Could you please upload the document somewhere where I don't have to pay for a subscription to be able to download the file ?
Thanks.

xpie
  • #11
  • Feb 11, 2015 12:22pm Feb 11, 2015 12:22pm
Does it matter what way you draw them, ? If i opened up a 1hr after an up trend, do i just run it from high to the recent low?,
  • #12
  • Feb 11, 2015 12:32pm Feb 11, 2015 12:32pm
Quoting colombino
I like your approach and the strategy, but to get your document I have to pay 10usd on webpage which pays money to uploaders for sharing documents ... is there any reason why this document is on this page or this thread should be in the commercial section?
Quoting xpie
{quote} Thanks for sharing. Could you please upload the document somewhere where I don't have to pay for a subscription to be able to download the file ? Thanks. xpie
Apologies, I didn't realize, I've fixed the link above.

Here it is again: http://extranet.datastream.com/Codes...ge%20Rates.xls
  • #13
  • Feb 11, 2015 12:33pm Feb 11, 2015 12:33pm
Quoting Pipabix
Does it matter what way you draw them, ? If i opened up a 1hr after an up trend, do i just run it from high to the recent low?,
No.

For example, for EURUSD You Start at 1.115 and then go to 1.348. Those are your levels. Then you can draw fibs within those fibs from the levels from the first fib.

See examples above.
  • #14
  • Feb 11, 2015 12:35pm Feb 11, 2015 12:35pm
Just for fun, here is a chart WITHOUT any information

See how it changes your trading? You are Blind.
Attached Image (click to enlarge)
Click to Enlarge Name: noinformation.png Size: 43 KB
  • #15
  • Feb 11, 2015 12:35pm Feb 11, 2015 12:35pm
Quoting GreatNorth
Just for fun, here is a chart WITHOUT any information See how it changes your trading? You are Blind. {image}

But with the proper information you can see clearly!
Attached Image (click to enlarge)
Click to Enlarge Name: rightinfor1.png Size: 81 KB
  • #16
  • Feb 11, 2015 12:36pm Feb 11, 2015 12:36pm
Quoting GreatNorth
{quote} But with the proper information you can see clearly! {image}
Even FURTHER with a FIB within a FIB
Attached Image (click to enlarge)
Click to Enlarge Name: moreinfor2.png Size: 74 KB
  • #17
  • Feb 11, 2015 12:54pm Feb 11, 2015 12:54pm
So- what are you looking to achieve with this thread?

I understand what you are saying- but why are you saying it?

Have you traded this idea? I assume you have with great success....if this is the idea that professionals use- which means you must be a professional to have access to such ideas...

Perhaps more importantly- WHY no 50%? Others would argue 50% is absolutely important if not pivotal to fib trading.
  • #18
  • Feb 11, 2015 12:56pm Feb 11, 2015 12:56pm
Quoting Pharm0r
So- what are you looking to achieve with this thread? I understand what you are saying- but why are you saying it? Have you traded this idea? I assume you have with great success....if this is the idea that professionals use- which means you must be a professional to have access to such ideas...
I'm just sharing information. If it's not for you, that's cool! :-)
  • #19
  • Feb 11, 2015 12:58pm Feb 11, 2015 12:58pm
Quoting GreatNorth
{quote} I'm just sharing information. If it's not for you, that's cool! :-)
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?
  • #20
  • Feb 11, 2015 1:03pm Feb 11, 2015 1:03pm
It's indeed impressive how the price reacts to these levels.
How did you discover this ? And how do you trade it ?
xpie
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