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A little bit of give back

  • #81
  • Jun 27, 2018 9:28pm Jun 27, 2018 9:28pm
Quoting moneymagnet
{quote} mine doesn't look correct. not sure what I am doing wrong. do not deal with fibos or its properties much. {image}
Not sure mine is perfect but likewise never really understood fibs, but its a great one to learn in the past felt it was too easy to go high to low or low to high on day with set numbers which are standard on mt4 so this led me to think there was a real way another way .. sure eventually it will become simple enough to understand.
  • #82
  • Jun 27, 2018 9:57pm Jun 27, 2018 9:57pm
Quoting dean1star
OK slightly pre empting here but if we see that this is the low of the Today then as near as we have two bounces off the 38.2 fibs i think this is near to a working example I have taken from the low of today back to the high of the day if this low level holds at the close of today then these would be the fib levels for tomorrow with an eye on the 38.2 and if we get to a 61.8 then we use this level as a 0 line and consider a further rejection zone at the revised 38.2 zone which is taken from the new 0 fibs on the original 61.8 level however it might...
Using the most recent swing high as a datum distorts your charts you need to look for an earlier high, preferably the previous highest hig...at least that's what Nut has been doing so far.
Capital preservation, live to trade another day
  • #83
  • Jun 27, 2018 9:59pm Jun 27, 2018 9:59pm
Quoting moneymagnet
{quote} mine doesn't look correct. not sure what I am doing wrong. do not deal with fibos or its properties much. {image}
Try moving your 0 to level 1.16225
Capital preservation, live to trade another day
  • #84
  • Jun 27, 2018 10:11pm Jun 27, 2018 10:11pm
Today's levels...EURUSD H1. Nut was right. Getting this right does a great deal for your confidence
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 20180628_070918.png Size: 53 KB
Capital preservation, live to trade another day
  • #85
  • Edited 10:36pm Jun 27, 2018 10:24pm | Edited 10:36pm
Quoting cjayfx14
{quote} Using the most recent swing high as a datum distorts your charts you need to look for an earlier high, preferably the previous highest hig...at least that's what Nut has been doing so far.
Thanks much appreciated
So if lets say the previous high is being used how would we know when to choose another correct high if its not previous days high then what happens if the low you choose gets broken if so then your trade could go anywhere after that ? Why choose the high you mentioned thats my question?
  • #86
  • Jun 28, 2018 12:54am Jun 28, 2018 12:54am
When 61.8 gets breached. You draw a line on it and move 0 to that line. I think the explaination was a+b=c .c being the new low...check the first few posts. I have to go out now i will check for you when i have time.
Capital preservation, live to trade another day
  • #87
  • Jun 28, 2018 12:54am Jun 28, 2018 12:54am
Hi all

These posts have highlighted that drawing the initial datum line is unclear, unless we get this correct we are going to be wrong. This point is my fault and I must correct the situation. I have an idea that should give consistancy and accuracy to all, this needs time to complete so I shall test it on many charts over the weekend and report back as soon as possible next week.
  • #88
  • Jun 28, 2018 1:31am Jun 28, 2018 1:31am
Quoting Nut
Hi all These posts have highlighted that drawing the initial datum line is unclear, unless we get this correct we are going to be wrong. This point is my fault and I must correct the situation. I have an idea that should give consistancy and accuracy to all, this needs time to complete so I shall test it on many charts over the weekend and report back as soon as possible next week.
Hi Nut also there are many people here myself included who really dont understand the workings of Fibs, your doing a really great job here Nut.
  • #89
  • Jun 28, 2018 1:40am Jun 28, 2018 1:40am
Is it possible to make a video explaining the process step by step please `?

Thank You.

Best regards
  • #90
  • Jun 28, 2018 2:04am Jun 28, 2018 2:04am
Quoting Nut
{quote} Read the posts on selecting a datum, I usually use from the last high at (A) to the previous low. Set one fob point at the high and the other at the datum (0) that is it. {image}
I follow the part of selecting an initial datum. I am confused about what follows after that. I have read some posts of moving fibs once .618 has been broken which I do not quite understand. I am unable to replicate the rejection at .382 fib on the EURNZD on the 4hr.

What am I missing?
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  • #91
  • Jun 28, 2018 3:30am Jun 28, 2018 3:30am
Let's try this one.
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Click to Enlarge Name: EURUSDM5.png Size: 37 KB
  • #92
  • Jun 28, 2018 3:37am Jun 28, 2018 3:37am
hope this helps people,but it seems on post 37 that nut has connected a lower high to a low lower
  • #93
  • Jun 28, 2018 3:52am Jun 28, 2018 3:52am
There is some confluence at this level. But I don't know if I do it right.
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  • #94
  • Jun 28, 2018 4:09am Jun 28, 2018 4:09am
Quoting jgadefelth
Is it possible to make a video explaining the process step by step please `? Thank You. Best regards
A good question, I would not know where to start but I can begin to find out.
  • #95
  • Jun 28, 2018 4:21am Jun 28, 2018 4:21am
Quoting cjayfx14
Today's levels...EURUSD H1. Nut was right. Getting this right does a great deal for your confidence {image} {image}
EUR/USD Mark up. Nut Hope this is correct.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSD.ecnH1 61.8 Level.png Size: 88 KB
Click to Enlarge Name: EURUSD.ecnH1 61.8 2 breached.png Size: 94 KB
  • #96
  • Jun 28, 2018 4:29am Jun 28, 2018 4:29am
Quoting Nut
{quote} A good question, I would not know where to start but I can begin to find out.
Hi Nut,

If you would just answer my PM's I would show you how, or do it for you.
  • #97
  • Jun 28, 2018 4:35am Jun 28, 2018 4:35am
Quoting Nut
{quote} A good question, I would not know where to start but I can begin to find out.
yes, especially the fib set up. I cant get it right for some reason
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #98
  • Jun 28, 2018 4:44am Jun 28, 2018 4:44am
Quoting FXState
{quote} EUR/USD Mark up. Nut Hope this is correct. {image} {image} {image}
Thank you for your charts. This is the closest I have come to understanding the setup and the positioning of the datum points.
  • #99
  • Jun 28, 2018 5:47am Jun 28, 2018 5:47am
Quoting FXState
{quote} EUR/USD Mark up. Nut Hope this is correct. {image} {image} {image}
Absolutely spot on, could not have done it better myself. Now make lots of money
Well done
  • #100
  • Jun 28, 2018 5:59am Jun 28, 2018 5:59am
Quoting moneymagnet
{quote} fib expansion or the fib retracement? or does it matter? Thank you
I am not certain but I think it may be wrong. The point of the expansion is to maintain the ratio 1.618 : 1
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