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Fibonacci and targets

  • #61
  • Sep 22, 2018 2:51am Sep 22, 2018 2:51am
Quoting George AUS
{quote} Good morning Sorobonista. I have stopped using Fibs many months ago as i do not need them at all. How accurately are my trades taken u wonder ??? i get over 95% accuracy. I do NOT talk about my theories in public forums for obvious reasons . No i am NOT a salesman .. Read what i said before ,,, and start at NAKED charts ,, because one should build a full understanding of price action before anything else . Do the work ,, study it swing by swing ,,, and u should be able to see action repeating every time . The best time frame to see this...
Thanks for the input George, I am particularly interested in hearing how you determine your price levels?
  • #62
  • Sep 22, 2018 9:41pm Sep 22, 2018 9:41pm
Quoting johnsmith2nd
{quote} Thanks for the input George, I am particularly interested in hearing how you determine your price levels?
I only know two ways, if you will buy on your target is the last top, the other way is the most probable level that is 161.8.
as he said he does not want to make his ideas available.
I want to apologize if it is vulgar, or misinterpreted, I use google translator.
  • #63
  • Sep 23, 2018 3:09am Sep 23, 2018 3:09am
Quoting Sorobanista
{quote} I only know two ways, if you will buy on your target is the last top, the other way is the most probable level that is 161.8. as he said he does not want to make his ideas available. I want to apologize if it is vulgar, or misinterpreted, I use google translator.
Sorobanista ,, u do NOT need to apologise ,, i understand what u mean ,, BUT i want to make 1 point clear ,,,
I did not say i do not want to make my theory available ,,,,
I said i do not like talking about my theories IN PUBLIC FORUMS .
Cheers,
George
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #64
  • Edited 4:01am Sep 23, 2018 3:48am | Edited 4:01am
Quoting johnsmith2nd
{quote} Thanks for the input George, I am particularly interested in hearing how you determine your price levels?
Good day to u John .
It is very simple sir .
A study of any chart will quickly show u how they can be determined , and here is a chart of some great price action IF it can be understood .
One only needs to Look at charts naked without the aid of any indicators ,, hence why i dont use them ( meaning Stochastic , MACD , CCi ect ect ect ) .
Notice this chart has NO name of pair ,, and ,, NO time frame ,,, simply because it is not needed as what u see here happens on every single pair ,, and every single time frame , except the smaller time frame, they more frequent it happens
If it all fails for u ,,, please let me know . do not reply to me here because i do not like wasting my time monitoring threads ,, i only look through them when i am bored .
Cheers.
George
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LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #65
  • Sep 27, 2018 12:42pm Sep 27, 2018 12:42pm
Hey Sorocabista, how are?

Well i didnt get clearly where is your enter? and how you put the targets according to your entry; Thx
  • #66
  • Sep 27, 2018 6:05pm Sep 27, 2018 6:05pm
Quoting WDaouFx
Hey Sorocabista, how are? Well i didnt get clearly where is your enter? and how you put the targets according to your entry; Thx
Hello WDaouFX,
In this case the blue line of 0.236 is a weekly resistance, difficult to break,
So it's safe to enter after 100% on the white line in round numbers.
But in this case it made a lower top, we could strike on the yellow line around 0.618.
With the first goal on the green line at 1.618 and the stop at the purple line at O%
Theoretically the purchases are the breaking of the last top and sales funds, which coincide quite well with the fibo of a monthly, weekly or any higher time to which you intend to make the entry.
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  • #67
  • Sep 28, 2018 6:07pm Sep 28, 2018 6:07pm
Why would we come in before breaking the 100% fund?
The target may be larger, see the elephant candle with the white arrow, is a sign of exhaustion of buyers, the larger goal would be the 0.618 which was marked by inverted hammer, with yellow arrow.
So up to 1.29100 I think it's a good target.
Did you notice that the 0.764 level was more accurate than the 0.768?
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  • #68
  • Sep 28, 2018 6:28pm Sep 28, 2018 6:28pm
Weekly chart, the hammer the match and the doji the target.
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  • #69
  • Sep 28, 2018 7:50pm Sep 28, 2018 7:50pm
Quoting Sorobanista
, ((( is a sign of exhaustion of buyers ))), ((( inverted hammer , with yellow arrow ))) . ((( notice that the 0.764 level was more accurate than the 0.768? ))) {image}
Gooood morning SOrobanista .
Hope u have been well .
You really believe in that myth about buyers and sellers moving this market ,,, the exhaustion myth , ect ect ect ?????
Also regarding the inverted hammer bar u talked about ,,, i suggest u have a good listen to Michael Huddleston ,,, ICT Trader ,,, a great trader that i hold alot of respect for as he explains what these bars are .
And also i suggest IF u want to continue using fibs ,,,, throw the 875 / 125 level on ur fibs for ur deep retracements .
BUT ,,as a suggestion from my humble but deep experience with fibs ,,, Retracements do NOT as work as effective as extensions on fibs ,,, yes i do mean when measuring reversals ,, they usually have swings in the reversals ,, so use EXTENSIONS on measuring the reversal size from the swings within the reversal moves .
Another point i want to bring to the table If i may ,,,
There are time when one MUST use INVERTED fibs for extension measurement and NOT forward fibs ,, it is all based on the length of the swings of inverted compared to forward swings ,,, something very hard to explain in typing .
I ONLY did more than 10,000 hours to master the use of fibs ,, thats the base of me knowledge and experience of using it ,, testing charts day by day for months and months back on the 15 mnt charts .
Hope this will help many .
Cheers,
George
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #70
  • Sep 28, 2018 8:18pm Sep 28, 2018 8:18pm
As a suggestion again ,,,,
On that last chart of the pound yen daily ,,,, Here is something else ,,, NEVER discount the PREVIOUS days range .
Here are examples of correlating fibs ,,,, as often u would need to do that ,, so i did it on the 4 hourly so zoom in
The larger ranges boxed and the smaller ranges boxed.
Then zoomed in on the 15 mnt chart to clarify the picture .
Why did i NOT use the full range to include the previous days range on that 15 mnt chart u may ask ???
Simply because the 127 of the full range from the top would NOT have been reached ,, BECAUSE the target they were after was achieved ,,, and that why the market halted for the day ,,,,
Now u know why i do NOT use Fibs ,, cause it is NOT fibs what the market runs to ,, it is TARGETS
Cheers
George
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LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #71
  • Edited 9:15pm Sep 28, 2018 8:32pm | Edited 9:15pm
To take this 1 step further ,,,,
Look at the chart based on the actual days action .
What kind of a mess is that IF we are to use Fibs ????
BUT ,,, IF u care to study the price action how i marked it ,,,, the answer is all in there and not Fibs .
Loo left and the sun will shine very clearly .
This would have to be the best explanation of what i am trying to bring to the table to help this subject .
Yes one can use Fibs ,, BUT ,, PRICE ACTION IS KING
Please fellow traders ,, study price firse then fibs IF u want consistency .
I am NOT knocking anything ,, i am merely trying to help all the hard working traders trying to master this game ,,, and being constructive with examples to show u all what really goes on
Here is the daily chart again ,,, Once one can understand the reasons why they did what they did where i marked the chart ,, and get an understanding of the answers to the questions on the chart ,, they will not need anything else to make a success in this game ,, Look left ,, yes we can see what people would call support and resistance ( which is something i do not believe in as it is a myth in my opinion ) ,,, BUT why they stop then continue ??? that is the GOLDEN question ! ! ! !
This game is 100% based on the psychology of the way traders view the market ,, which in my opinion lacks the most important part ,,, and that is ,, UNDERSTANDING PRICE
Cheers,
George
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LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #72
  • Sep 28, 2018 9:47pm Sep 28, 2018 9:47pm
after almost 9 years in this market.. the only thing that worked to me was fibs and Elliot waves... thanks to Those 2 smart guys who discovered that ... they changed life of a lot traders ...
  • #73
  • Sep 28, 2018 9:48pm Sep 28, 2018 9:48pm
my set : Day TF.
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  • #74
  • Oct 1, 2018 1:06am Oct 1, 2018 1:06am
Quoting Sorobanista
Weekly chart, the hammer the match and the doji the target. {image}
Did you change the levels of your fibs or add levels?
  • #75
  • Jun 21, 2019 7:09am Jun 21, 2019 7:09am
Quoting George AUS
To take this 1 step further ,,,, Look at the chart based on the actual days action . What kind of a mess is that IF we are to use Fibs ???? BUT ,,, IF u care to study the price action how i marked it ,,,, the answer is all in there and not Fibs . Loo left and the sun will shine very clearly . This would have to be the best explanation of what i am trying to bring to the table to help this subject . Yes one can use Fibs ,, BUT ,, PRICE ACTION IS KING Please fellow traders ,, study price firse then fibs IF u want consistency . I am NOT knocking anything...
George, my view ...

in first chart they bounce off a level (point1 ) that had heavy buying in the past. At point 2 they take the stops of the point 1 buyers and buy right on the roundie 1.30 to make it look like solid support. At point 3 we have a sharp rise past recent local highs to confirm the new bullish "trend". Then at point 4 they take the stops of all the recent 1.30 bullish uptrend buyers. Point 4 also saw a sharp burt of buying in the past..and just for fun and games it is also faded out before the real uptrend begins.

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The 2nd chart is concerned with levels of "up and under/quasimodo" patterns in the past. The first 2 stop at levels where it looks like they are going to repeat a move. Making new local highs to entice more long orders and breakout buyer, only for price to reverse and keep falling. Thus they are getting more folk long against the shorts which they need to cash out in the future....and they take all the stops of these longs (SELLS) when they take price below the major low Oct 2017 and cash out their shorts with BUYS.

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I Know it was a thread about Fibs and targets, but it's great just to think about how the powers that be have to entice other traders to take the opposite side of the trade from them, whether that's through the fake use of supply/demand, fibs, ma's, oscillators, Elliott wave, gann, news and on and on and on
  • #76
  • Jan 28, 2020 3:27pm Jan 28, 2020 3:27pm
I adopted a very common level that only now I realized is 200%, which is double the 100% is an example of today.
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  • #77
  • Feb 8, 2020 2:39am Feb 8, 2020 2:39am
Quoting George AUS
{quote} Hello Shrips . Here is a picture of what to do. Add 2 spaces then %$ after the price description in the right side part as u see here . Hope this helps . Cheers, george {image}
Thanks George.
This information I have been looking for a long time.
Sote
Learn... Work Hard... Trade Alone
  • #78
  • Edited 4:08am Feb 8, 2020 3:15am | Edited 4:08am
Quoting BiteFX
{quote} Thanks George. This information I have been looking for a long time. Sote

Nothing wrong with Fibs, imho, to show where the market is in its current phase.

Some use Daily, Weekly &/or Monthly fib pivots (creating further phase issues, or enlightenments) edit

But please do not miss reading & testing what George mentioned regarding the Targets. That is the gold. edit
  • #79
  • Feb 8, 2020 11:41am Feb 8, 2020 11:41am
Quoting TimeTells
{quote} Nothing wrong with Fibs, imho, to show where the market is in its current phase. Some use Daily, Weekly &/or Monthly fib pivots (creating further phase issues, or enlightenments) edit But please do not miss reading & testing what George mentioned regarding the Targets. That is the gold. edit
Hey, I don't even understand what you are saying or your point.
Or are you just finger-happy to type?

I am only thankful that he shared how to add price to fibonacci levels on the chart.

That's all...

I don't follow popular opinions okay?

I AM AN AVID FIBO TRADER.

Please Stay Alive...
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Learn... Work Hard... Trade Alone
  • #80
  • Mar 14, 2020 2:53pm Mar 14, 2020 2:53pm
First figure is the next likely levels at 1,618 and 200.
Second figure, a divergence candle, can lead to the 100 level test.
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