DislikedI have not slept one wink.
http://www.quotationspage.net/icon_blank.gifWilliam Shakespeare, "Cymbeline", Act 3 scene 4Ignored
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DislikedI have not slept one wink.
http://www.quotationspage.net/icon_blank.gifWilliam Shakespeare, "Cymbeline", Act 3 scene 4Ignored
DislikedVHANDS is fantastic! I could only select dailey though as the highest time frame. Do I need to adjust something or will that work ok??Ignored
DislikedI will Bobb, my mind isn't geared for teaching right now. It's more geared for idle chit chat. It takes a lot of thought for me to decide how to deliver the information in a manner it can be absorbed. For you, I'm not going fast enough, but for me it's going too fast...lol
Besides being a hospital shuttle for my dad, I have the inlaws coming to town and Christmas at my house. I could pile on more but I won't...lol.
I truly have given enough information to get you started and thinking different. If you spend time applying the mindset I suggest, things will start popping out at you and you won't need me anymore.Ignored
DislikedI guess I'm the straggler. Between trading and posting, I'm still on the 1 week candle fib exercise.
The more examples I look at, the more it appears that anything can happen. Yes, price really loves those lines, they are significant, but there doesn't seem to be any rules about what will happen until it's over with.
BUT, as you said, if a person were to trade the hourly chart off these fibs, and be patient and see what happens at the line, then I see possibilities.
Today the E/U broke through last week's 23 fib and went 100 pips down to the 0 line. Stopped dead to the pip and reversed. Interesting. I did think of trading the breakdown, but, I can wait. I've lost too many trades trying something new.
I did trade the 138 breakout on the U/J in my blown oanda account. It faked a retrace so I got out, but it has gone on up now. There are still 45 pips to the 162....Ignored
DislikedSkunny...which posts give us some of the best info on what we're paying attention to the most while observing the PA?Ignored
DislikedThe initial idea of what I posted for an exercise was a result of addressing S/R and how price acts around it. I chose weekly for the purpose of simplicity for new traders, it shows stronger S/R just within the candle structure itself (Hi/Lo). I think I stated this before but maybe I missed it, what's applicable on a weekly chart is applicable to lower time frame charts. However, the higher time frames trump the lower ones. The exercise itself was just to get people focused on this fact. I'll try to put another chart together when I get back from the hospital later today.
The vhands stuff was never an exercise for the weekly chart. If I inadvertently indicated that I apologize.
I'll get into a better flow next week. Tough week this week, bad timing to start a thread.Ignored
DislikedI'm not showing exactly how to trade this, but maybe this will help you all see where this idea goes on an hourly basis.
If you look at the candles on the example.
1) trade to 138
2) enter 1 position
3) enter 1 position at 61.8 and 1 at 38.2 inner fib lines
This example looks easy but only because there was a new cycle starting on the swing I pulled. So don't think you can pull like I did here. You need to learn the flow before you pull a fib.
Remember when I said watch when REAL S/R is broken? "Pin Bar"?. Pin bars are cool things,(yippee) but you need to know where they happen or they're useless.
I gotta run!Ignored
DislikedThanks for the extra tidbit of info, it will be very helpful now while looking using vhand. I know your probably already gone. But if you get a moment sometime, the last highlighted area at the 138 ext. With experience you learn to not expect that pinbar to signal a change in direction. Or, since it hit a key area, you now watch for the next candle to breakthrough higher or lower of the pinbar.
Thanks alot, you have been extremely generous and thoughtful in a time that's very busy for you. Your Dad continues to be in our prayers.Ignored