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Indicator Free Trading - Skunny

  • #2,181
  • Jan 17, 2008 3:50pm Jan 17, 2008 3:50pm
Quoting learningtheropes
Dagoods has gone from 2 cents, to 2.5 cents, now to 2.381. He has retraced to the 23.6 fib
actually it's a DEMO account - he never had any real sense (cents)
  • #2,182
  • Jan 17, 2008 4:00pm Jan 17, 2008 4:00pm
Quoting learningtheropes
Dagoods has gone from 2 cents, to 2.5 cents, now to 2.381. He has retraced to the 23.6 fib

I'm glad somebody got that! (was actualy trying to retrace the 38.1 that time but hey at least u got the joke!
  • #2,183
  • Jan 17, 2008 4:04pm Jan 17, 2008 4:04pm
IMO the higher time frames are important for reference, they only become "active" occasionally, and when they do we better take notice!

From yesterday's post;

"The 4 hr had a 138 extension at 206.93

The daily a 138 extn at 207.20 and the weekly a 61.8% retrace at 206.66.....mm 666....

Thats a range of 54 pips from data going back to October 2003! I guess you might say that GJ is at an important level!"

As someone once said - "I rest my case"....or in my case, lol, my head on my pillow - till 1am EST tomorrow....
Trading Levels with WRBs
  • #2,184
  • Jan 17, 2008 4:17pm Jan 17, 2008 4:17pm
Quoting sizzler
[ trade tho, but would we? I need to do some checking.
I dunno if this is what Skunny was talking about but here is a chart on the UY

We broke weekly so we are overall bearish. Daily range is outlined and the M15 might be nothing or 1hr I am not 100% on how to assign tfs to fibs.

The white lines.. ignore them

Sufficed to say,I am not comfy with fibs 100% . However if D1 breaks bull she breaks correctively to W1( I ahve my W1 from 124.12 -107.05). So I am kind of on the fence until UY makes its mind up.

Weekly bearish Daily just crushed a major support bounce.. So I wait and let the market tell me. D1 bearish or bullish near term which would dictate all my smaller tf ranges untl D1 resumes direction with W1.

that would be MY methodology trading this pair right now.
Thoughts on this chizzart? Sorry about all the colors.


Sizz[/quote]


thanks sizz that really helps me a lot... muchos gracis! molto bene! duh dagoods...dove vai cosi in fretta?! sheesh! you eeediot dagoods... he he

this thread rocks!!!!


sizzlecranker rocks!

doughnuts rock!


my 2.618 cents
  • #2,185
  • Jan 17, 2008 4:18pm Jan 17, 2008 4:18pm
Quoting Charlie
DaGoods,



My thoughts are:

If all the time frames pointed in one direction then that would probably be some easy pips. But we all know that doesn't happen all too often.

But lets say for example the daily has been in a downtrend and hits a 50% retracement and starts to rise, and then 1 hour time frames finally breaks to the upside...you can still trade long on a smaller time frame of your choice for 10-20 easy pips.

Now this would be against the overall daily trend...but still within the market flow.

So i think that Skunny means that you have to pay attention to the higher time frames so that you don't trade against their flow...but now all time frames have to be in agreement because there are cycles within cycles as are time frames within time frames.

This is my current "not so educated guess" on this. Feel free to disagree...

Charlie

this makes sense to me.... i cant say if thats what skunny means or not...but it helps me so thank u very much
  • #2,186
  • Jan 17, 2008 5:37pm Jan 17, 2008 5:37pm
Quoting dagoods


my 2.618 cents
  • #2,187
  • Jan 17, 2008 6:37pm Jan 17, 2008 6:37pm
Quoting hnic828
Hi DX,

What theory or indication do you use to tell you the cycle has ended? I noticed on your fib the bottom line says "end of cycle".

Thanks
I just labeled the 1.682/-0.682 extension "End of cycle" as opposed to my 31.2 extension labeled "Target"

The blue fib is always the weekly fib on my chart.

And although as posted I chickened out at break even +1 yesterday... it eventually reached my target. So the basic trade idea seemed to be OK.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 16 KB
"The only successful substitute for brains is silence."
  • #2,188
  • Jan 17, 2008 7:10pm Jan 17, 2008 7:10pm
Skunny

Would you PLEASE, pretty please, clarify this for me?

I am still bugged about the wicks in relation to fibbing and s/r. You said that long wicks can be bad data, so what is a long, bad data wick? are you saying one that is 1/2 of the body of the candle, as long as the body, or more?

Thanks
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,189
  • Jan 17, 2008 7:17pm Jan 17, 2008 7:17pm
Quoting galaxymom
Skunny

Would you PLEASE, pretty please, clarify this for me?

I am still bugged about the wicks in relation to fibbing and s/r. You said that long wicks can be bad data, so what is a long, bad data wick? are you saying one that is 1/2 of the body of the candle, as long as the body, or more?

Thanks
I confirm mine from three directions. (2) MT4 platforms and (1) Bank or ECN data feed
e.g.: IBFX - Alpari - IB or Bank (if u have access)

not all long wicks are bad data - Skunny was just warning that some may be - so best to check them out
  • #2,190
  • Jan 17, 2008 7:25pm Jan 17, 2008 7:25pm
Quoting PiPr Pro
I confirm mine from three directions. (2) MT4 platforms and (1) Bank or ECN data feed
e.g.: IBFX - Alpari - IB or Bank (if u have access)

not all long wicks are bad data - Skunny was just warning that some may be - so best to check them out
example - this doesn't need to be a lengthy process to check. If you are updating your fibs on a couple of different platforms you will quickly notice the difference from the other one. When fibs don't work out and I have a key candle with long wick I quickly check the ECN (or bank) feed to confirm all is OK.
Attached Image (click to enlarge)
Click to Enlarge Name: long wicks.gif Size: 18 KB
  • #2,191
  • Jan 17, 2008 7:47pm Jan 17, 2008 7:47pm
Bo & Skunny - growing Fibonacci Traders
Attached Image (click to enlarge)
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  • #2,192
  • Jan 17, 2008 7:51pm Jan 17, 2008 7:51pm
Would you pull the fib from the top of the hat to the shoes, or the retracement from the shoes to the top left of the water jug?
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,193
  • Jan 17, 2008 8:00pm Jan 17, 2008 8:00pm
Quoting DXTrade
I just labeled the 1.682/-0.682 extension "End of cycle" as opposed to my 31.2 extension labeled "Target"

The blue fib is always the weekly fib on my chart.

And although as posted I chickened out at break even +1 yesterday... it eventually reached my target. So the basic trade idea seemed to be OK.
DX,

a quick question for ya....why are you pulling your weekly fib off the high of last week but your low is coming off of the Dec 30 week bar?
trading naked.......
  • #2,194
  • Jan 17, 2008 8:02pm Jan 17, 2008 8:02pm
Quoting Thexder
Would you pull the fib from the top of the hat to the shoes, or the retracement from the shoes to the top left of the water jug?
I think the 162 extension is the curve at the bottom of the letter "D" in traders.
trading naked.......
  • #2,195
  • Jan 17, 2008 8:07pm Jan 17, 2008 8:07pm
Quoting piphitman
I think the 162 extension is the curve at the bottom of the letter "D" in traders.
No, I checked my other platform. That was just an MT4 glitch.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,196
  • Jan 17, 2008 8:09pm Jan 17, 2008 8:09pm
Quoting Thexder
Would you pull the fib from the top of the hat to the shoes, or the retracement from the shoes to the top left of the water jug?
fibs are pulled out of the hat
  • #2,197
  • Jan 17, 2008 8:12pm Jan 17, 2008 8:12pm
Quoting PiPr Pro
fibs are pulled out of the hat
or in my case........out of my a**
trading naked.......
  • #2,198
  • Jan 17, 2008 8:17pm Jan 17, 2008 8:17pm
Quoting piphitman
DX,

a quick question for ya....why are you pulling your weekly fib off the high of last week but your low is coming off of the Dec 30 week bar?
Oooopppsssss.... I took the low from Fri, Jan 4th instead of monday.
Human weakness, or maybe the sizzler liquor-grain-grape effect. Doesn't change the validity of the double top and the black fib though... fortunately.

Thanks for telling me. Its a pleasure to see that people actually WATCH the charts.

Here the updated and actual UJ version as I see it
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 17 KB
"The only successful substitute for brains is silence."
  • #2,199
  • Jan 17, 2008 9:00pm Jan 17, 2008 9:00pm
DX,

the more I think about it the more I think that original placement you had may have been the correct one. A few posts back Skunny had posted a simple image with two consecutive hourly bars to determine sup/res. Same could be said for the last two weekly candles in your original fib placement. We had a long bearish candle with a long wick one week, followed up with a bullish candle with a long wick the following week. Two consecutive candles showing S/R (I think?).

I had another question regarding the post skunny made here recently
http://forexfactory.com/showpost.php...postcount=2157
about the image which he stated the green line was the monthly sell single. Was that just the low of that month or was it the low of a fibbed range of several months.

I know Skunny said to fib out weekly and monthly....does that mean just the last week or month or possibly zooming out to place fibs over a range of swing hi/lo's over several weeks or months to show entry points?
Attached Image (click to enlarge)
Click to Enlarge Name: weeklyfib.JPG Size: 39 KB
trading naked.......
  • #2,200
  • Jan 17, 2008 10:07pm Jan 17, 2008 10:07pm
I can agree with others saying this has been such a great thread. I mean, I quit reading threads because the negativity and rudeness that so many have portrayed. I can truly say that I believe most, if not all in this thread are helpful but not system enablers if you know what I mean. Skunny has done us all a huge favor. This thread has become a soap opera to me. I can't wait to get back on line to see what someone else has written and catch another nugget or laugh, although at this point I don't know if Skunny's obscure method of trying to teach us has him pleased or puzzled. Only time will tell I guess, but it's fun to be on the journey. I await other bones from him to finally have a skeleton I can call a trading plan LOL. Really though, I have enjoyed this thread and look forward to participating in it every day. I started reading this thread when it was around 53 pages if I remember correctly. Glad I found it when I did...imagine folks trying to catch up 3months from now.....


:surprised

Daniel
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