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Indicator Free Trading - Skunny

  • #181
  • Dec 14, 2007 2:06pm Dec 14, 2007 2:06pm
Quoting Skunny
This was for you Blue
OK, I probably missed the point. In JohnW's thread you asked "Imagine you knew where it needed to go before you got in your trade?" and said in another post "it has already been determined where it is going to go".

So, all my attention is stuck on that - I'm seeing everything you say from the viewpoint of setting future target points. Still gets me all cranked up thinking about it.

As far as price action, I've put in considerable tube time in the last year and am really starting to get a feel for it. Now that I can retrade that year, I'll get even better!
  • #182
  • Dec 14, 2007 3:13pm Dec 14, 2007 3:13pm
Quoting Iqtrading


fine fine fine, thats look awesome!!!

so first was a short, second too...

3rd was confluence of the 100 and the 38 and 50 zone?
No, first was a short then 2 longs.
Robonacci com
  • #183
  • Dec 14, 2007 3:16pm Dec 14, 2007 3:16pm
Quoting Skunny
No, first was a short then 2 longs.
because had broken last resistance?
  • #184
  • Dec 14, 2007 3:16pm Dec 14, 2007 3:16pm
Quoting Skunny
No, first was a short then 2 longs.
Well that makes a lot more sense. The second one penetrated the fib channel. and the third was the retracement of the move...
  • #185
  • Dec 14, 2007 3:19pm Dec 14, 2007 3:19pm
Quoting smjones
Well that makes a lot more sense. The second one penetrated the fib channel. and the third was the retracement of the move...
okay but i could have ended in a Failed Break Out end send it down... at this moment u can't see the retracement, so what u do in this moment? i think i would canceled the trade...
  • #186
  • Dec 14, 2007 3:21pm Dec 14, 2007 3:21pm
Quoting Iqtrading
okay but i could have ended in a Failed Break Out end send it down... at this moment u can't see the retracement, so what u do in this moment? i think i would canceled the trade...
I would have held in because as you move further down the retracement you get into stronger and stronger hands holding the area. I would have held at least to 50 and possible 61, because of the channel that had formed.
  • #187
  • Dec 14, 2007 3:27pm Dec 14, 2007 3:27pm
Quoting smjones
I would have held in because as you move further down the retracement you get into stronger and stronger hands holding the area. I would have held at least to 50 and possible 61, because of the channel that had formed.
okay i have a whole weekend to test it for me , but understand me, have to sent my old learnings overboard, because it follows a bearish engulfing(i know not really, because the engulfing has to include the shadows too, but for me it's a setup) i would had shorted it, maybe this is a fault, because swing lows are higher in this moment... puh, that thinking make this not easy...

hope the vhands tell me the lesson...

for now, i would had looked at my stochastic 8.3.3 to see if it overbought, but i didn't want to use it
  • #188
  • Dec 14, 2007 3:28pm Dec 14, 2007 3:28pm
Sorry, I did not mean to butt in. I can delete my post. I just get excited when talking about fibs... LOL
  • #189
  • Dec 14, 2007 3:28pm Dec 14, 2007 3:28pm
Quoting Iqtrading
because had broken last resistance?
What I did when I pulled the fib is define a trading range. Once this is defined we trade when the price violates our range. Because we don't know if it is a break out or not we enter the trade on penetration. In this case it pissed us off and sought out the inner fib supports. So we have 1 long position (penetration) (optional) and we add to the position as it works against us (because we know where it is going). In this case it chose the 62 as support most likely completing a cycle on a lower time frame. I did not study this trade but for a moment or two, I just wanted to get something up on the thread before I left, so let's not get too anal about the chart...lol

Again, you need to just study and not trade it, because if you have your fib drawn in the wrong place you will lose big doing it the way I just described.
Robonacci com
  • #190
  • Dec 14, 2007 3:29pm Dec 14, 2007 3:29pm
Take a look at the attached chart because it's very interesting since it shows I believe some of what Skunny is talking about, without trying to be too presumptuous Skunny. He mentioned that the lower TF's weren't as accurate and so I wouldn't have expected what the chart seems to show. There are fib's A, B & C in different colors. All start from the same candle. So fib-ing the 1st doji, 2nd doji & 3rd doji. Totally not sure about using the first for much since there was no pullback other than within itself creating the doji.

Anyway, price moved up thru the doji candle and tested the 162 level of the 1st fib. In the process creating a doji candle so the 2nd fib was pulled, price pulled back to the 62 level (blue) which was the exact same spot as the 38 level of the 1st fib. Price bounced back up to the confluence area of 138/0.0 at "C", again pull back to 38 area and then moved upward thru the 162 level.

It's just interesting stuff that hopefully later on Skunny will be able to talk about. And I hope I wasn't too confusing.

note: most people know to click on photos to enlarge them I hope since you won't be able to see much unless you do.
PipHunter
  • #191
  • Dec 14, 2007 3:31pm Dec 14, 2007 3:31pm
Quoting Skunny
What I did when I pulled the fib is define a trading range. Once this is defined we trade when the price violates our range. Because we don't know if it is a break out or not we enter the trade on penetration. In this case it pissed us off and sought out the inner fib supports. So we have 1 long position (penetration) (optional) and we add to the position as it works against us (because we know where it is going). In this case it chose the 62 as support most likely completing a cycle on a lower time frame. I did not study this trade but for a moment or two, I just wanted to get something up on the thread before I left, so let's not get too anal about the chart...lol

Again, you need to just study and not trade it, because if you have your fib drawn in the wrong place you will lose big doing it the way I just described.
correction!
Robonacci com
  • #192
  • Dec 14, 2007 3:31pm Dec 14, 2007 3:31pm
Sorry here's the photo.
Attached Image (click to enlarge)
Click to Enlarge Name: skunny2.gif Size: 56 KB
PipHunter
  • #193
  • Dec 14, 2007 3:32pm Dec 14, 2007 3:32pm
Quoting smjones
Sorry, I did not mean to butt in. I can delete my post. I just get excited when talking about fibs... LOL
LOL. Anyone can play here (as long as your nice)
Robonacci com
  • #194
  • Dec 14, 2007 3:33pm Dec 14, 2007 3:33pm
Quoting Skunny
LOL. Anyone can play here (as long as your nice)
LOL,, I'm always nice....
  • #195
  • Dec 14, 2007 3:34pm Dec 14, 2007 3:34pm
Quoting Skunny
let's not get too anal about the chart...lol
okay lets go further...
  • #196
  • Dec 14, 2007 3:35pm Dec 14, 2007 3:35pm
Quoting smjones
LOL,, I'm always nice....
That's the rumor
Robonacci com
  • #197
  • Dec 14, 2007 3:37pm Dec 14, 2007 3:37pm
Oh I see your with us Skunny, I thought you were gone for the weekend. I see you've made some additional comments since when I started writing mine. Hopefully my comments are too silly, I was very excited about how the numbers started matching up.
PipHunter
  • #198
  • Dec 14, 2007 3:37pm Dec 14, 2007 3:37pm
Quoting Iqtrading
okay lets go further...
No, before I go any further I want $500 from everyone viewing the thread and $1000 from SMJONES.
Robonacci com
  • #199
  • Dec 14, 2007 3:38pm Dec 14, 2007 3:38pm
Quoting Pip Hunter
Oh I see your with us Skunny, I thought you were gone for the weekend. I see you've made some additional comments since when I started writing mine. Hopefully my comments are too silly, I was very excited about how the numbers started matching up.
I have company over so I need to go soon. I'll be around here and there.
Robonacci com
  • #200
  • Dec 14, 2007 3:39pm Dec 14, 2007 3:39pm
Quoting Skunny
No, before I go any further I want $500 from everyone viewing the thread and $1000 from SMJONES.
LOL

here

http://www.theholidayspot.com/patric.../potofgold.gif
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