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% levels - its magic

  • #101
  • Jan 19, 2008 6:36pm Jan 19, 2008 6:36pm
Here's how I use these levels... I have a 0,50,100 stretched over the previous week and previous day. Playing initial breakouts is a bad idea, it's always recommended to wait for a 50,0 or 100 level (i.e previous day/week's high/low/halfway point to be breached and then look for a retest (or some resistence close by) with confirming price action e.g pinbars on any timeframe. The fib extensions are great for tp/scaling in areas depending on what kind of price action is showing up. We can see aud/usd hit the previous day's 138 level and formed a pinbar with a great counter trade.
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  • #102
  • Edited 8:42pm Jan 19, 2008 8:17pm | Edited 8:42pm
Quoting bobblong
Here's how I use these levels... I have a 0,50,100 stretched over the previous week and previous day. Playing initial breakouts is a bad idea, it's always recommended to wait for a 50,0 or 100 level (i.e previous day/week's high/low/halfway point to be breached and then look for a retest (or some resistence close by) with confirming price action e.g pinbars on any timeframe. The fib extensions are great for tp/scaling in areas depending on what kind of price action is showing up. We can see aud/usd hit the previous day's 138 level and formed a pinbar with a great counter trade.
Its a simple 1.2.3 system
It works great if you know you have the trend.
esp. if you have the trend on the 2 higher time frames
then the one you are trading
and the one you are trading ( the lowest of the three)
is now coming back in line with the 2 higher ones

ie. week, day, 4 hours
or day. 4 hours, hour
month week day works well.

also I find the VERY BEST TOOL IS THE 4 HOUR CHANNEL!!!!!
to see the way to go with the trend
& know when you are in danger of a break or a bounce

last I try never to trade against the trend
and for anyone new to trading .. never never never trade against the trend!

TEB
  • #103
  • Edited 3:10am Jan 20, 2008 2:59am | Edited 3:10am
Quoting TEB63
I will not call you dump
but 0% nor 50% nore 100% nor 200% are fibs
-reverse ratios are mans ideas and are never found in nature
which is where fibs are to have come from

teb
Still don't get it. If you divide 1,1,2 (FIB Numbers) you will get these levels.

Also it's irrelevant if you compare 610 to 987 or the other way around.
You are still comparing fib numbers.
You won't find 100% 50% in nature?
Well look at where fib numbers come from So the ratio will always be related to nature. Nobody cares if you find these rations in nature because the fact you divide fib numbers makes them fib ratios.
If you want I can also easily debunk your "no nature" myth.

http://img144.imageshack.us/img144/4...tterflyzr4.jpg

You can also take the other wing as a 200% fib extension of the first one.
Don't tell me a butterfly is not natural enough.
  • #104
  • Jan 20, 2008 4:16am Jan 20, 2008 4:16am
Quoting Linus78
Still don't get it. If you divide 1,1,2 (FIB Numbers) you will get these levels.

Also it's irrelevant if you compare 610 to 987 or the other way around.
You are still comparing fib numbers.
You won't find 100% 50% in nature?
Well look at where fib numbers come from So the ratio will always be related to nature. Nobody cares if you find these rations in nature because the fact you divide fib numbers makes them fib ratios.
If you want I can also easily debunk your "no nature" myth.

http://img144.imageshack.us/img144/4...tterflyzr4.jpg

You can also take the other wing as a 200% fib extension of the first one.
Don't tell me a butterfly is not natural enough.
what??????
you can find " anything in nature".... but they are not fibs in nature
talk to someone in math
anyways this talk is silly and I am done
study fibs not 4x

teb
  • #105
  • Jan 20, 2008 10:19am Jan 20, 2008 10:19am
So your saying if you divide fib numbers you won't get fib ratios?
That makes sense!
Funny you advise me to talk to some math guy. Higher Mathematics Second Semester, Industrial Engineering does that ring a bell?
  • #106
  • Edited 2:16pm Jan 20, 2008 11:53am | Edited 2:16pm
Quoting Linus78
So your saying if you divide fib numbers you won't get fib ratios?
That makes sense!
Funny you advise me to talk to some math guy. Higher Mathematics Second Semester, Industrial Engineering does that ring a bell?
Your schooling is impressive!

I am not saying Fib. ratios are not real.
But what I am saying is they are man made.
They do not happen in nature more then any other set of numbers.
fibs seem to happen more then normal
but in the math world, even to this statement, not everyone would agree.

but to call 50% a fib is crazy by any math.
anyways I have nothing more to say on this topic.

be well

teb
  • #107
  • Edited 3:42pm Jan 25, 2008 1:11pm | Edited 3:42pm
Thank you very much for this usefull education TEB63,
The 25fib method of yours makes playing the gbp/jpy so much safer,
Here's an example of mine,the mint blue fibs are from the first vibration of a downward movement on a 15min TF where I use 25 fib to ''hook''the fibs,so if it plays out well my first target is at 206.8 around the 161.8 mint blue fib and 2nd target around 204.5 at the mint blue 200fib.
The pink fibs are for confirmation and is the significant high low fib on the 15 min charts there's a 423 pink fib at around 207.6 though,it must go through this fib to confirm the mint blue fib set up.
QQE 60 and 5 is also for confirmation of the movement.
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Boyy,trap money,like bear hunters.
  • #108
  • Feb 25, 2008 2:28pm Feb 25, 2008 2:28pm
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look at the 3 white circles... makes you think
it seems this works best on the 4 hour chart

teb
  • #109
  • Nov 6, 2008 7:04pm Nov 6, 2008 7:04pm
TEB63 or Anyone

How do calculate the % levels. Is there an indicator that will do the plotting? Thanks to all who answers as the method seems most interesting.
  • #110
  • Nov 6, 2008 7:27pm Nov 6, 2008 7:27pm
Put fib on chart then open objects then find fib,hilite, then edit then, add then fill in blank with the % (25,33,66,75,etc) figures you want on chart then exit objects numbers will be on chart.
  • #111
  • Nov 6, 2008 7:49pm Nov 6, 2008 7:49pm
Thanks plind.
  • #112
  • Nov 6, 2008 10:21pm Nov 6, 2008 10:21pm
Quoting Linus78
Call me stupid but:
0,1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181

0/1 = 0 = 0%
1/1 = 1 = 100%
1/2 = 0.5 = 50%
Now you take the reverse ratio of
2/1 = 2 = 200%

And you say NON of them are fib levels? *scratches head*
-where is 75%?
-can we get any nuber usung fibo#?
  • #113
  • Nov 6, 2008 10:24pm Nov 6, 2008 10:24pm
Teb, did you tryed 0.6; 0.7; 0.8 , 0.9 and how they to compare to 0.75(%)?
  • #114
  • Dec 1, 2008 11:37pm Dec 1, 2008 11:37pm
TEB,

Thanks for sharing your experience here.

I can understand your target levels well, but I am having difficulty in understanding the two price levels that you draw your fib lines from, and why.

I have attached one of your old charts on this thread to help show what I don't understand. Any clarification from you would be great.

And what do you use to indicate that price will go up, as opposed to down?

Thanks again.
Rob
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  • #115
  • Mar 4, 2011 7:24pm Mar 4, 2011 7:24pm
here is some examples found em from first try..
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  • #116
  • Mar 4, 2011 8:02pm Mar 4, 2011 8:02pm
Randomly picked
we can even hedge these level
very nice idea of you mate
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  • #117
  • Mar 4, 2011 8:32pm Mar 4, 2011 8:32pm
Quoting edge540
TEB63:If English is not your mother tongue then don't take any offence at what I have to say.I have tried to follow this thread and other posts you have made but your bad spelling,appalling grammar and lack of structure makes most of what you have to say completely unintelligible.
As an Englishman and having been employed for the best part of twenty five years to write reports I consider myself something of an expert on the English language.

What this character Edge, has written above is most offensive. Equally it is totally incorrect. Any 'faults' with Teb's writing are easily understood.

I suspect that the fault lies closer to Edge's home.

It was my intention to help by re-writing Teb's work but this is completely unnecessary.

Do not apologise Teb, your concept is very clear - at least for seven eighths of us.
  • #118
  • Mar 14, 2011 10:49am Mar 14, 2011 10:49am
Hello Teb,
This is a great idea! I have been working on the criteria for what price moves to draw the fib from/to and I have just been using the previous price move. So, for example, in an uptrend I am using the fib tool on the last retracement downwards to use it for the price projections on the next up move. Is that how your using them or am I not getting the criteria correct? I understand the levels, I just want to be sure about which price moves to use the fib tool on. Also, I have included a pic to show you the previous retracement I used the fib tool on to project the price moves for. It is in the ellipse.
Also I think a great name for the thread and tool would be %Price Projections.
What you think?
Anyway check out the attachment and let me know if I'm doing this right?
Thanks Teb!

Peace,
SatchFan
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  • #119
  • May 19, 2011 7:48pm May 19, 2011 7:48pm
Hi TEB!
Come back waiting for you...
  • #120
  • May 19, 2011 10:28pm May 19, 2011 10:28pm
Quarter Pivots.
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