Indicator Free Trading - Skunny

Quoting sizzler

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Bo,

.

I don't know if anyone else used that info but that EU loop chart skunny posted is pretty much a perfect top bottom fib of that daily candle.
I don;t know fi that is bad or good per Skunny..

What post is this sizz?

I really appreciate your fib experienced opinion and input. I think both of you guys have the best intentions and I think the world of what you are both doing. I personally love hearing someone who has their stuff nailed down speak in terms of how they see things for whatever reason.

I second this.... no wait i third it too and thensome

one more time for good measure

SKUNNY RULES

(and Bo too)

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Quoting bronxterp

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Just as I clicked submit on that last post my BE + 5 got stopped out. Total net of 76 pips on that series of trades. Now I can do my 12-14 work day with a smile!! I will try to post a chart or two of the series of trades that I took, but it may not be till later this week. I hope that everyone continues to post their charts and opinions. I'm learning so much from everybody!

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Quoting learningtheropes

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Hey Bronx,

Are you still planning on posting some charts on this? I'm curious how you went about your series of trades in this situation.

Also, to anyone w/ an opinion: I was walking the FiBS on the UJ here (after the fact, no chance to trade this morning) and was wondering if I was picking the Low a few candles too early (since you can see it broke the 100 line then fully reversed right after), or would you say it was already overextended since the extensions of the longer TF's were already blown out?

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Quoting Islander

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I've been thinking overnight and I feel that I am


Hey Islander,

We got ganneria out of it atleast
I am a little fuzzy as to how you are looking at the GY per your post.
Here I have( now in retrospecto correcto vision) from charting
my

W1 GY fib now complete
D1 I think fib step one orange and then
D1 Step 2 fib red complete

I guess could you post your counterpoint? this is all I see
I think this is a great example of a buy order cluster s/r

Sizz

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Quoting Islander

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I've been thinking overnight and I feel that I am


Hey Islander,

We got ganneria out of it atleast
I am a little fuzzy as to how you are looking at the GY per your post.
Here I have( now in retrospecto correcto vision) from charting
my

W1 GY fib now complete
D1 I think fib step one orange and then
D1 Step 2 fib red complete

I guess could you post your counterpoint? this is all I see
I think this is a great example of a buy order cluster s/r

Sizz

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Quoting dagoods

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we are all still learning, but bo mentioned that Skunny said that we should all be just learning maarket flow right now.... skunny once wrote that price moves up then down then back up and then down..... and vice versa i would venture to say... price moves in swings if u will..... so I say lets try to get in sync with that and watch PA and get the feel of the flow....

on your chart... i dont see the extentions? i think that your extention was hit and I think that its time for you to move that fib, I would move the upper part of the fib to the next highest swing high...this would be the next place high or low to watch for a break ... I THINK but I dont know..... walking the fibs is what we are all experimenting with and trying to learn...... i am ceratinly only a beginner at this ......

what does eveyone else think?

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Quoting learningtheropes

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Sorry, my chart was not clear. I know the extensions to the upside were hit (but I left them off as not to confuse...oops, I did anyway)!! I was referring to the low of 105.96. That was my swing low that I Fibbed from. 4 candles later we break that low down to 105.91 (The 138 Ext would be below here unseen on my screenshot). I was questioning why this break did not work? I suspect it was that we were already overextended to the downside based on the larger TF's, or that my swing low was chosen prematurely and this was meant to be a long entry all along? Thoughts?

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Quoting dagoods

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well looks like price found support down at that level.... the chart i posted yesterday with aud/usd also did not work out ... (YET anyway), since its demo i can let it run and see..... but this is good we should be llokin at failed trades IMO to learn from! but i digress

This seems to me to indicate that price will eventually go down below that level...OR its a bad data feed thingy..OR you fibbed "wrong" in that there is a higher tf trumping lower tf thingy going on.....my guess is sometime in the future (maybe days, weeks who knows) that fib may come back into play..... but thats just my guess.... but it goes back to what skunny said price goes up then back down then up again and then down (i think that was it) and i presume vice versa...so which leg are we on and how far up and down... this is the mystery...... walking it on smaller tf and watching out for areas of strong support and resistance like higher tf fib swing high and lows and places of fib clusters... maybe would keep us out of that trade with more practice and experience.... just my thoughts for what they are worth....but its good to analyze the ones that dont work out like we want them too.... and try to see where we can improve..... so if anyone else has "bad" trades lets have a looksie...


just my 2 c

thanks for the charts

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Quoting 24HourTrader

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Just as I'm about to post a chart wondering why the Dragon stopped its freefall where it did today, I see that Sizzler chart of the weekly. My head exploded! I was thinking it stopped short of some recent 138 targets, which it did, but should have thought to scale WAY out first. Truly, as was just mentioned in a post, the best way is to start from the biggest TF and go down from there, as the biggest are most important.

In this chart you can see where I was thinking price would go(and unfortunately had the dragon take a big bite out of me). Actually, as I was watching the bounce from (not known to me yet) the weekly 138%, I assumed it was pre-news rumors causing it along with a round number, as it retraced so sharply blowing through resistance points like they weren't even there. Now, I have a thought, and this I guess is common sense.

When higher TF levels get hit, the bounce is likely much more powerful and rapid. Is this due to the fact that the big boys that focus on higher TFs are taking profit as opposed to the smaller guys?

So this is a case of higher TF's overriding the smaller ones, you can see the break of the yellow fib but reversed before 138% due to that weekly 138% and the 138% of the fib Sizz marked as Daily, which is mind blowing as well how they overlap. I guess my point here is main targets should be the big TF levels, smaller ones are just bonuses in between. Interestingly though, price did have a nice bounce at the 138% of the yellow fib on the long side, as that cycle was still active. Great work everybody!

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Quoting Bobokus

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Owwwe Skunny, he just slapped me on the back of my head, like my momma use to do when she caught me drinkin out of the milk jug, but it was for a good reason, after talking to Skunny today he made me realise something about the things I say in my posts and its the fact that my language im useing is an advanced level of trading with fibs and it will get you the readers off track and add confusion to the goal of this thread which is for you to learn the market flow first before even attempting to trade with real money. The thing is he is right. Its also the reason my thread got so confused, I didnt realise the skill level of most of the readers here on FF, and started my thread addressing the skill level equivelant to probably 5 years or more experience. To keep this thread on track and away from happened in mine i recommend that you do not try to follow what I do personally but what Skunny is trying to teach you here, he is much better at conveying the message and teaching you the market first. I just hope I didnt confuse the thread too badly because what he is doing here is a very generous thing. Knowing him personally he is what he says and a good friend of mine so I would urge you to stick with the basic principles he has layed out before you and use only that, in time everything will begin to make much more sense.
Now if i could just find that ice pack for the knot on the back of my head.

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