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Indicator Free Trading - Skunny

  • #2,381
  • Jan 20, 2008 10:30pm Jan 20, 2008 10:30pm
Quoting GridTrader
I don't think you are, although I think there is still a lot more to this than just updating our fib by moving it to where it's target was met. I tried this way originally and it didn't work out like I had expected, though that was several weeks ago when I understood much less. Since Skunny is making mention of Pipo's chart, perhaps he could kindly show us how he walked these fibs into their positions. I can't really tell by looking at his chart. Can anyone else?
No problemo GridTrader - here ya go.

I indicated with blue trendlines from where I walked the fibs.
Fib5a was not on my original posted chart and I discovered it only now.As you see Fib5a actually hits the target from where I drew Fib6.
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  • #2,382
  • Jan 20, 2008 10:44pm Jan 20, 2008 10:44pm
Very nice Pipo, looks along the lines of how I'd line em up
  • #2,383
  • Edited 10:49pm Jan 20, 2008 10:47pm | Edited 10:49pm
Quoting Skunny
Your bright blue fib is not valid until the mid range resistance levels are completed.
Mid range resistance levels completed? Do you mean once the 1 hr chart fib cycle completes, as shown on this (and your)chart?
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  • #2,384
  • Edited 10:51pm Jan 20, 2008 10:49pm | Edited 10:51pm
Quoting Pipo
No problemo GridTrader - here ya go.

I indicated with blue trendlines from where I walked the fibs.
Fib5a was not on my original posted chart and I discovered it only now.As you see Fib5a actually hits the target from where I drew Fib6.
Cool and Thanks! Question: Based on how you are walking them shouldn't the Fib5a zero line be placed at the Jan swing low just to the left of where you have it now?
Edit: and couldn't there be one more between Fib1 and Fib2 (at the swing closer to Fib1)?
The market is like the matrix - it is you that must learn to bend
  • #2,385
  • Jan 20, 2008 11:00pm Jan 20, 2008 11:00pm
Quoting Pipo
No problemo GridTrader - here ya go.

I indicated with blue trendlines from where I walked the fibs.
Fib5a was not on my original posted chart and I discovered it only now.As you see Fib5a actually hits the target from where I drew Fib6.
Looking at this more, my guess is when a cycle hits it target, that became the new 0 line while the prior high of the target's swing became the 100 level. Am I correct?
The market is like the matrix - it is you that must learn to bend
  • #2,386
  • Jan 20, 2008 11:08pm Jan 20, 2008 11:08pm
Quoting 24HourTrader
Mid range resistance levels completed? Do you mean once the 1 hr chart fib cycle completes, as shown on this (and your)chart?

24,

What dude? no.
the resistance levels on yer fib completing.. not the one hour.
the fib is legit once those levels complete otherwise you are in the middle or between. Look to them before you trade. check out historical example crossed with pa swing high swing low. check out your failed fibs too. My last aha ho ho moment.

Its Jimmy Walker.

Sizz.
  • #2,387
  • Jan 20, 2008 11:22pm Jan 20, 2008 11:22pm
Quoting sizzler
Its Jimmy Walker.
DYN O MITE!
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,388
  • Jan 20, 2008 11:27pm Jan 20, 2008 11:27pm
Quoting sizzler
24,

What dude? no.
the resistance levels on yer fib completing.. not the one hour.
the fib is legit once those levels complete otherwise you are in the middle or between. Look to them before you trade. check out historical example crossed with pa swing high swing low. check out your failed fibs too. My last aha ho ho moment.

Its Jimmy Walker.

Sizz.
Hmmmm I'm afraid I'm a bit lost here. When I hear "mid range resistance level" my first instinct is of course the retrace levels like 38% 50% etc...but how can those "complete"? That's what is throwing me off...price has already touched those and has turned back...if they are not "complete" now, when will they ever be?
  • #2,389
  • Jan 21, 2008 12:06am Jan 21, 2008 12:06am
Quoting 24HourTrader
Hmmmm I'm afraid I'm a bit lost here. When I hear "mid range resistance level" my first instinct is of course the retrace levels like 38% 50% etc...but how can those "complete"? That's what is throwing me off...price has already touched those and has turned back...if they are not "complete" now, when will they ever be?

24HT,

For sure I shot from the hip off of your response post . I do see exactly what you are saying and coming from 20-four Me personally I am on the sidelines for a quick spell waiting for price to squawk since a fib just completed.......waiting.. and tomorrow is a holiday woohoo!!!!!

Sizz
  • #2,390
  • Jan 21, 2008 12:15am Jan 21, 2008 12:15am
Quoting GridTrader
Looking at this more, my guess is when a cycle hits it target, that became the new 0 line while the prior high of the target's swing became the 100 level. Am I correct?
Just to let you know my knowledge of Fib is as old as this thread. So IMHO

I would say yes unless there is a new resistance or support near by. Fib5 Target was hit but I chose the resistance below as reference point for Fib6 . Also in post 2366 skunny refered to as mine being only one of the fib completed there. Fib5a was another one completing its cycle as well the last red red fib. To Q in post 2384 -Red trendlines showing the smaller swings but I think you would have to go to a lower timeframe to trade with those.

Skunny please correct here.
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  • #2,391
  • Jan 21, 2008 12:19am Jan 21, 2008 12:19am
Quote
Originally Posted by Skunny http://www.forexfactory.com/images/buttons/viewpost.gif
Your bright blue fib is not valid until the mid range resistance levels are completed.

Quote
Originally Posted by PiPr Pro http://www.forexfactory.com/images/buttons/viewpost.gif
Ain't it fun when da-man shows up and opens up the treasure door!
Quote
Caught that one huh?


OK......I'm not too proud to admit it. I feel like I just fell down the rabbit hole! I thought I was really on to things but now I'm thrown for a loop.

Unless I'm missing something. Do you mean the "bright" navy blue or the "bright" cornflower blue? Maybe this is what is causing my confusion.

Having a major brain-cramp right now...
  • #2,392
  • Jan 21, 2008 12:47am Jan 21, 2008 12:47am
Quoting Brunite
OK......I'm not too proud to admit it. I feel like I just fell down the rabbit hole! I thought I was really on to things but now I'm thrown for a loop.

Unless I'm missing something. Do you mean the "bright" navy blue or the "bright" cornflower blue? Maybe this is what is causing my confusion.

Having a major brain-cramp right now...
Brunite,

Whats causing the confusion? it is good though to get thrown for a loop though new stuff.

Lowell and I were going over this last week and I thought I was going to have a heartattack. It needs to be tweaked still but. it was like duh... look at that chart progression I sent you and Lowell should be back in action soon. tomorrow I think. He is coming from step 2 grey box example on those charts whichs sounds more like what Skunny is saying. I have been flipping out. It is a way to know if your fib is kosher.

Sizz
  • #2,393
  • Jan 21, 2008 12:54am Jan 21, 2008 12:54am
I wonder if this is headed to the targetssssssssssss (that's plural)...LOL
(please ignore the silly EA lines)
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  • #2,394
  • Jan 21, 2008 1:00am Jan 21, 2008 1:00am
Hey guys, just started going through this thread over the weekend and I'm just wondering if I'm on the right track. Here is a chart with some fibs that seem to be doing well... you tell me please
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Has what you wanted to see made you blind?
  • #2,395
  • Jan 21, 2008 1:10am Jan 21, 2008 1:10am
Quoting Pipo
Just to let you know my knowledge of Fib is as old as this thread. So IMHO

I would say yes unless there is a new resistance or support near by. Fib5 Target was hit but I chose the resistance below as reference point for Fib6 . Also in post 2366 skunny refered to as mine being only one of the fib completed there. Fib5a was another one completing its cycle as well the last red red fib. To Q in post 2384 -Red trendlines showing the smaller swings but I think you would have to go to a lower timeframe to trade with those.

Skunny please correct here.
Pipo thanks for the chart.
The market is like the matrix - it is you that must learn to bend
  • #2,396
  • Jan 21, 2008 1:11am Jan 21, 2008 1:11am
Quoting Skunny
Your bright blue fib is not valid until the mid range resistance levels are completed.
Thanks Skunny,

I saw that, but your comment at least took away the last doubt about my fibs.

Guys, what he meant is that my dark blue fib didn't retrace to at least 38... so it's not a valid fib... it's still just a down extension of the earlier fib from friday.

At least my EJ trade went straight down from entry to target... great stuff!

And even though GJ wasn't a valid fib... the trade is in profit and SL at break even +1.

It's sooooo much fun
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"The only successful substitute for brains is silence."
  • #2,397
  • Jan 21, 2008 1:13am Jan 21, 2008 1:13am
Quoting 24HourTrader
Hmmmm I'm afraid I'm a bit lost here. When I hear "mid range resistance level" my first instinct is of course the retrace levels like 38% 50% etc...but how can those "complete"? That's what is throwing me off...price has already touched those and has turned back...if they are not "complete" now, when will they ever be?
You and me both. I was thinking the same thing. I'm confused. A pic would be nice, somebody??? anybody?
The market is like the matrix - it is you that must learn to bend
  • #2,398
  • Jan 21, 2008 1:14am Jan 21, 2008 1:14am
Quoting PiPr Pro
I wonder if this is headed to the targetssssssssssss (that's plural)...LOL
(please ignore the silly EA lines)
PiPrPro,

Methinks so.. IMO, you would play this like any s/r and if you get quick, mix it with fibs and use them as speed lines to gauge price/time intersect.. that is my observation so far. interesting to see it play out live though eh?

If you get whip quick you can portent fib pierces with them etc.. the mind reels mixing in pa and some other jazz.. talk about being a tank. One would be a beast with those weapons. A regular Squatch!


Sizz

Dx I am going to take english lessons from you thats what I meant.. still in old fib mode wait for a new one to show up. maybe I need to learn to sprechen ze duetche? forgive my terrible german.
  • #2,399
  • Edited 1:25am Jan 21, 2008 1:16am | Edited 1:25am
Quoting DXTrade
...Guys, what he meant is that my dark blue fib didn't retrace to at least 38... so it's not a valid fib... it's still just a down extension of the earlier fib from friday...

EDIT: Hmmm, Skunny said bright blue fib not dark blue fib. Confused again, sorry
And your earlier Friday fib did complete.
The market is like the matrix - it is you that must learn to bend
  • #2,400
  • Jan 21, 2008 1:30am Jan 21, 2008 1:30am

Skunny
for
President
of the
Universe

Resistance is futile

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