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DislikedTHERE IS A 100% WINNING WAY TO TRADE
But you'll never do it. BECAUSE YOUR HUMAN. But it's possible.
Ignored
DislikedOk, it is the 62, but the chart says 38, the fib was drawn upside down. When ever price pulls down from any high it is the percentage of the retrace. So, when it retraces 62 % like it did it's the 62.
My confusion was a result of the tool itself. I use a customized fib and I don't have the 38 or 62 on it. I just want everyone to use this for now. We will soon call them upper/lower support/resistance instead.Ignored
DislikedI hope I can learn that. I am pretty new to forex and already blew one of my account it hurrrtttsssssss a lot man. I am in process of blowing up the second one, but I don't want to. I want to learn from my experience and want to profit. Let's see how the second round goes. I think I am improving now.Ignored
DislikedI'm going to post a monthly chart with a fib on it. I just didn't place this fib where it is now. I brought the fib there by a series of previous moves. Now if you look at this chart, do you think there is anyone on the planet, even fib traders, that would pick this spot to draw a fib?
You see, traders don't decide where fibs should be drawn the price action does. When you learn to listen to the market your fib can be here to.
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DislikedTHERE IS A 100% WINNING WAY TO TRADE
But you'll never do it. BECAUSE YOUR HUMAN. But it's possible.
Ignored
Disliked.....The market isn't total chaos like others like to say. In fact, it is nothing more than a series of very calculated movements inside other movements down to the second. Price needs to satisfy it's goal without breaching boundaries that it has perfectly set for itself in past history. .....
.....The reason for this isn't any of the above, it is a result of a move needing to complete itself before it moved in the opposite direction. Have you heard the term false break out? There is no such thing, traders use this term to describe how they got bent on a trade.
Do I have anyones attention? Because I don't know anyone that actually knows this, not brokers, not even the biggest institutions. When you figure out how to calculate these moves you will have created a Grail (you can decide if it's holy or not). But I can tell you this....IT CAN BE DONE!
Price action and a calibrated tool will get you there. .....Ignored
DislikedYou put it at significant S/R points, right?
I see the triple top where you put the top of the fib - major resistance was hit there. And the bottom fib point, price was heading down and reversed there and went on up - good support.Ignored
DislikedI've just discovered this thread. Many thanks, Skunny, for sharing.
I'm going to try to summarize my understanding of what Skunny is teaching here. Skunny and others, please feel welcome to correct me. Hopefully the corrections will help clarify the concepts for others.
1. Price will always complete its current cycle (see quote below), in every time frame (i.e. wave or fractal). This is a very different angle to what "traditional" analysis methods teach. We had been previously led to believe that cycles and goals unfold on-the-fly, as the consequence of news, sentiment, and decisions made by traders. However, my new understanding is now that, while all of these factors may cause zigs and zags along the way, price will nonetheless always reach its pre-determined goal.
2. Price action and a calibrated tool can be used to predict these target points (see quote below). The "calibrated tool" is a Fibo retracement (that includes the upper and lower 138.2 and 161.8 levels). IF the Fibo(s) are drawn using the correct base (0/100) points, then the retracement levels fixed by the Fibo have predictive value, in that they will accurately signpost these target prices in advance of price reaching them.
3. Consequently (and this is my assumption), IF we know where these goal prices are, i.e. where the cycle is going to end, and hence price will reverse, then that's a primary reason to say that "there is a 100% winning way to trade", excepting (as Skunny points out) human error.
Hence the key is to be able to draw, and use the Fibos, correctly. And possibly understand how to interpret price action around these points??
Skunny, am I understanding this correctly?
DavidIgnored
DislikedSkunny,
When you get a chance, tell us more about what we should be doing with vHands.
I mean, normally I put weekly, daily, 4Hr trendlines, and now weekly fibs on my charts. I will add lines to show triangles on the hourly (those have been my bread and butter for a month or two now).
I can't get my roadmap onto the chart in vHands, so I don't know how to trade. Maybe that's the point -- strictly watch P/A?
Even that leaves us with maybe a couple weeks' data on the chart (hourly).
Need some direction.
RobIgnored
DislikedThe chart posted just shows a few projection areas. I drew all of these lines from their origination point(one point). These lines shoot of into nowhere when you first draw'em and when the fairy dust blows the price knows that they are there. These also take a lot of practice and not every point is a Gann line origination point.Ignored
DislikedNo sir. I'll post another example of a specific wedge trade. Gann lines can be calibrated to any angle. It's knowing what angle your on. Like knowing what cycle your in. All of these are predetermined areas before price gets there. (not after the fact)Ignored
DislikedWhen you place the template on another pair the fibs are on numbers from GBP/Yen and somewhere around 220 somethings if the chart you put the template on is a currency like the Euro at 1.4's the fibo tool is still way up there on 220 somethings.
Just open the objects menu on the chart and view the fibo tool... where you see the levels displayed and by doing so it will make that the default fibo tool and then when you draw them they will come out the same.Ignored