Checkz, would you consider 68 points or 70 a win? I'd take either. Nothing is exact, I think even Skunny had a tolerance of 10 pips.
MD.
MD.
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DislikedCheckz, would you consider 68 points or 70 a win? I'd take either. Nothing is exact, I think even Skunny had a tolerance of 10 pips.
MD.Ignored
DislikedWhat does "Also no stoploss entered and therefore no stop hunting mean?" The reason why I am asking is I use to for example enter a trade when the high was hit and I would place a sell entry order at the low just in case the trade reversed and my buy order turned into a sell order. Is this the same thing youre saying?Ignored
DislikedHey I know what you are saying on the fibs and I still like you method the best. Just fiddling around with what Thom does out of curiosity.
Gone short cable this morning at 1.6052. Taget 1.5990. Suits you sir!
MD.Ignored
DislikedI don't mean to ask so many questions but in this post do you mean that if I draw fibs on a monthly single cangle I should then move down to a weekly chart and follow price action on that chart by observing the SR levels to see how they react to the fibs previously drawn on the monthly single candle?Ignored
DislikedHi mate, a bit of constructive criticism for you. There are times when a daily candle fib does not not cover a perfect swing when you drill down to the hour.
MD.Ignored
DislikedHi Guys - I've noticed that this thread has become active again and decided that I'd pass by and drop in a post.
For the newbies that dont know me, I've been around FF for a few years now and I've been using fibs for more than 15 years - so that's rather more than Skunny who I guess was starting to peddle Real Estate about that time. However, he did start me thinking and as I'm a trader who looks to make actual money, I started this thread.....
http://www.forexfactory.com/showthread.php?t=69499
Whilst I do still use fibs, they are...Ignored
Dislikeddo you still consider this a win even if it a few pip shy of hitting it's target? even though I think it still is going to hit it.Ignored
DislikedI cocked that cable trade up btw but never mind we live and learn.
I'm goiing to post 2 charts, the first is a daily shot of cable on the 17/12/09 with a fib pulled to it's high and low.
Attachment
The next chart shows us zoomed in with the same fib range but in 1 hour view. For me the start of the swing is the pink square at the top. Now to be fair quite often a daily range very neatly has it's own high and low which are easily discernable so this is not a problem. When the below occurs, and I have mentioned it before to you,...Ignored
DislikedSo the 50 million dollar question is, how de we tell that price has actually retraced to a certain level and is not going further ?
Islander or anyone else, can you shed some light on the last piece of the puzzle. If entry can be confirmed, then the trade becomes a high probability highly accurate result after that.Ignored
DislikedHello Islander, I read all your earlier stuff here and have had a quick look at your thread before. What happened to Sizzler? I do take your point about fibs and I look to add them as another part of my trading toolkit. My wife's Cooked me a lovely curry so I'm not going to dissapoint here. I'll have a good look at your charts afterwards.
Thanks again.
MD.Ignored