% levels - its magic

I am not a big believer in fibbs

I am not a big believer in fibbs

in fact the best fibbs are not fibbs I like 0,50,100,200
(this will amaze some people but non of these are fibbs)

but price comes to them esp the day & 4 hour time & time again
what amazes me is you see them before the hi or lows are formed?



4 hour chart eur/usd

red is 4 hour
blue is day

circles are hits

TEB

more fun add the 25% & 75%
from both the 4 hour & the day



TEB

more fun add the 25% & 75%'



TEB

Hmmm... interisting! i always use fibo retracemet n fan, but never use 25% n 75%. btw what pair u use? i'll try it later.

Thanks!

Hi TEB63,

I agree with you about fib levels, when I first started trading I didn't give them a second thought but now fib numbers are a big part of my trading systems.

I don't know how much you understand about fibonacci numbers but as you get into it you'll discover alot of interesting stuff just with retracement levels and price prediction levels.

Anyway have fun with it and enjoy

cheers

the intersting thing is 0,100,50,200 are not fibs but they are on most fibs as if they are


TEB

intersting 33% & 66% also also seem to get hit esp.on retrasements



it looks like these get hit 3 to 1 to the fibs intersting
& if you take out the 33 & 66 its more like 4 to 1
(I am only using real fibs in the comparing)

teb

Good finding TEB,

I'm using this method for a while already, I learned it from another trader. The divisions are 8ths and 3rds (which include the levels you found) but the best level by far is 1/2 and many times an important swing point becomes the 50% of a future swing as you found out.

yes thanks - I have used 0% 50%100% for years

but it was the others that is intersting

what time frames do you use them on ?
how do you use them in trading .. just as targets ? SL?

TEB

Dailies only and as potential S/R levels, sometimes they can help you quantify the end of a move by how price vibrates through the levels as in the attached snag. But 90% of the time I am using 1/2 projections to find a future S/R level.

And my favorite taken right out of my trading chart...

Don't we use fibs to see where the possible supp/res will be in the future? How do we benefit then from what happened before? Here's the same euro daily chart, same bounces but forecasts made based on the swings that already formed, and you can see in the orange circles the same bounces which happened on the confluences of 38.2% and 23.6%, and the second one, 61.8% and 38.2%. From what I've heard from others and from own experience, the strongest fib levels are 61.8, 78.6, 50, and 38.2. 100 and 0 are just previous swing's high/low, which by definition are already the supp/res.

also look at the second chart, we now spread the fibs on the last downswing, look where the price is forming that spinning top (the last candle), and the stochs are turning. I haven't looked at weekly yet to see if there are signs of reversal, but on daily these three signs are bearish.

ps. i realize you guys are talking about nonfib levels, just wanted to contribute to the thread by pointing out that the usual fib levels work well too.

Fibs have always been a good indicator

Hello,also on your chart at the stochastics level when it crosses some of the time it can walk that 80 point line and stay in the original direction.Good point about the 0/100 on the fibs as the swing hi's and lo's.this point is not obvious to all,thanxs.

Followup to http://www.forexfactory.com/showpost...5&postcount=12
Next powerful 1/2 area is around 1.6500 - if price gets there - prefered reversal day being January 9.

They are nice in hindsight, aren't they?

you see this time & time again
( its how I do my SL & TP)

The black is from the hour the pink is from the 15 min
the 100% of the 15 min is the 50% of the hour - amazing





Its magic

TEB

if it takes out the blue circle here



I will be looking for it to take out the blue circle here

TEB

Its magic right @ the 75%

Which way do you think it is going?



TEB