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What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

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Fibonacci GONE WILD

southernmind I`m sorry to tell you that but.... you don`t have a clue how to use the fib lines.You just draw and draw and draw. And someday you will loose all your money.So stop now.Stop using any lines at all.Think about the market like a game.Game with a lot of loosers and a bunch of guys getting rich
every day.Imagine you are a chicken in an egg.And you have to get out before you get boiled .So what I am trying to say is think different.And its so easy once you see it. Check this out http://fxtrade.oanda.com/resources/pnfcharts/
Regards Fireeee
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
Quoting fireeee
southernmind I`m sorry to tell you that but.... you don`t have a clue how to use the fib lines.You just draw and draw and draw. And someday you will loose all your money.So stop now.Stop using any lines at all.Think about the market like a game.Game with a lot of loosers and a bunch of guys getting rich
every day.Imagine you are a chicken in an egg.And you have to get out before you get boiled .So what I am trying to say is think different.And its so easy once you see it. Check this out http://fxtrade.oanda.com/resources/pnfcharts/
Regards Fireeee
While I can appreciate your concern for me as a trader (student of the market), your issue is with the charts. They speak for themselves. As I've stated before, this isn't the standard way of using fibs, but if it works, who gives a frack?? I only report what I observe. That's why I started my own thread. Freedom of speech. Can you dig it???

If you find no value in this thread, it's still all good. I love to "draw and draw and draw", as you put it. The more I draw the more I see. The more you can explain a thing the better the understanding of it.

You will never hear me say that this will work 100% of the time but neither does any other system, strategy, or method. It's not about the whole pie, but the slices.

I wish you P.E.A.C.E. (Pips Earned And Captured Easily)
  • Post #183
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  • Edited 12:52am Nov 18, 2007 12:26am | Edited 12:52am
Price responded very well to the lines from Thursday morning throughout the remainder of the week.
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Sunday's are a good time in using this method in capturing pips using charts on smaller timeframes. Once a clear high and low has been established (a decent reversal should occur or a nice consolidation pattern), draw the fib lines and their duplicates. These lines have the potential of being useful into the Monday trading session.

Here are GBP/JPY and USD/JPY 10 minute charts as illustrations. I'm not taking into consideration other lines (pitchfork, trendlines) because I'm just focusing on the fib method in these illustrations.
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Here is a 10 minute AUD/JPY chart.
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I'm playing with fibonacci's too,but only fibonacci's is not enough is my opinion.
I use the 15 min ,hourly and 4 hourly fibonacci's often,
I look for a significant high low on the chart at the bottom or the top,
in good times the 261.8 and 423was it? gets hit.
example my fibonacci's on gbp jpy 15 min chart
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Boyy,trap money,like bear hunters.
Hey everybody, I honestly didn't even know about this thread! I am reading through it as soon as I am done posting here. I will post any thoughts that I have dealing with fib levels after I am done and hopefully we can, collectively, have a good discussion and come up with a solid understanding of the immediate market conditions. The only difference is that I use dynamic fibs instead of trying to draw them out myself. Oh and southernmind, I saw a few posts ago, someone told you to give up trying to learn. That's dumb. Keep on drawing! Thanks.
I dream, therefore I become.
Quoting mike w
Hey everybody, I honestly didn't even know about this thread! I am reading through it as soon as I am done posting here. I will post any thoughts that I have dealing with fib levels after I am done and hopefully we can, collectively, have a good discussion and come up with a solid understanding of the immediate market conditions. The only difference is that I use dynamic fibs instead of trying to draw them out myself. Oh and southernmind, I saw a few posts ago, someone told you to give up trying to learn. That's dumb. Keep on drawing! Thanks.

THAT'S THE SPIRIT!!!!
Quoting Merc
I'm playing with fibonacci's too,but only fibonacci's is not enough is my opinion.
I use the 15 min ,hourly and 4 hourly fibonacci's often,
I look for a significant high low on the chart at the bottom or the top,
in good times the 261.8 and 423was it? gets hit.
example my fibonacci's on gbp jpy 15 min chart
I also use pitchfork, trendlines, and channel lines. I'm really not into using moving averages (I'll glance at them from time to time) or other indicators, but if it helps bring more pips for ya, go for it!!!
Will the descent continue or has it had enough?

To the downside, I expect at least one good bounce starting with the 1st pitchfork line down to the 50% fib.
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I'm still keeping my eye on this daily chart as well.
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Whether there is action to the upside or downside, this setup should offer great guidance. It's starting to look bearish. We'll see soon enough.
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This pair has a fight ahead of itself. I think it's prepared though. If price decides to stay within the triangle formation formed by the downward trendline (yellow) and lower fib line, a clear breakout from it could be an indication in which direction price is headed.

(I just noticed that I could add another upward trendline to the chart. The charts now reflect this. Price could become sqeezed between this line and the downward trendline I mentioned above as well.)
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The longer price stays above the middle pitchfork and/or 23% fib line the more bullish I will become. However, it's too early to tell how price will react.
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Hey Southern,
Her are fib levels that I use....very helpful with shorter term trading...use with an Oscillator ( not Shown ) I chart all The fib levels....
This is a eurjpy as an example.....
I also have the extensions....
Fxj
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Proper Prior Planning Prevents Piss Poor Performance
Trades taken for Cable....Oscillator is really unimportant, which ever a trader is comfortable with.....a few longer tern MA's help with over all trend for period trading.

BTW....I am Long from 2.0410....Note the cross/ I didn't think that edge of chart would show up.... I expect 2.0590 as first target....Trailing Stop set at 2.0480 Locking +70

Fxj
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Proper Prior Planning Prevents Piss Poor Performance
Hi there Jarhead....long time no see. Those fibs are great, huh? One of the many things I like about them (as well as trendlines) is that they are not lagging indicators. They are set in stone and are great to use in backtesting. Out of the many charts I've posted in this thread I can't see how anyone could say they have no value (which translates into I don't know what the hell I'm doing).

Fib-Fib-Horray!!!

BTW, did anyone catch the retracement in USD/JPY from the descending trendline a little while ago?
Quoting southernmind
The longer price stays above the middle pitchfork and/or 23% fib line the more bullish I will become. However, it's too early to tell how price will react.
The middle pitchfork line held as support upon a 1st attempt by price to break through it.
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Bro which indicator are you using? thanks
Quoting FxJarhead
Trades taken for Cable....Oscillator is really unimportant, which ever a trader is comfortable with.....a few longer tern MA's help with over all trend for period trading.

BTW....I am Long from 2.0410....Note the cross/ I didn't think that edge of chart would show up.... I expect 2.0590 as first target....Trailing Stop set at 2.0480 Locking +70

Fxj
The bulls are flexing their muscle it appears. USD/JPY has broken the descending trendline and GBP/JPY had a bounce off the middle pitchfork line and the 23% fib line. The chart below is a 15min GBP/JPY and I'm going to use it to assist in a move up or down. Right now it appears to be up. The purple line represents the 23% fib line (227.57) on the GBP/JPY 4HR CHART I posted earlier.

If you notice, I'm using a high and low from Friday's trading. I do this sometimes if the setup offers breakout potential.
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