Indicator Free Trading - Skunny | Page 136 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to free indicator resources? indicator called from EA 7 replies

COT trading system with free indicator 297 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

SWAP free, rollover free Broker? 15 replies

Attachments: Indicator Free Trading - Skunny
Exit Attachments

Indicator Free Trading - Skunny

  • #2,701
  • Jan 25, 2008 2:14am Jan 25, 2008 2:14am
Quoting GridTrader
For clarification here we are talking about retracement levels prior to pentrating our 0 or 100 level, and not necessarily retraces after penetration to be considered a valid fib. Am I understanding this correctly? Does everyone else here agree, disagree, don't know yet?
Yup... thats how I understood it, see it and use it. Otherwise it's just a continuos up/downtrend with some hickups.
"The only successful substitute for brains is silence."
  • #2,702
  • Jan 25, 2008 2:46am Jan 25, 2008 2:46am
Cable's up 340 in 24 hours and has now broken above its high of January 17, thereby targeting 1.9965 another 140 pips up.

However, there is a gann line from the November highs that will provide resistance and that line intersects with the two blue gann lines at around this afternoons close.....

Lets see how it works out
Attached Image (click to enlarge)
Click to Enlarge Name: jan 25 gu 60m 0900.gif Size: 13 KB
Trading Levels with WRBs
  • #2,703
  • Jan 25, 2008 3:12am Jan 25, 2008 3:12am
UJ has so far got to within 8 pips of its Jan 16 high of 107.96, so no breakout - yet.

With no news due today and after a 190 pip rally in 24 hours will it retrace or breakout? TWT
Attached Image (click to enlarge)
Click to Enlarge Name: jan 25 uj 60m 0900.gif Size: 11 KB
Trading Levels with WRBs
  • #2,704
  • Edited 3:35am Jan 25, 2008 3:32am | Edited 3:35am
And the GJ made last weeks range from down to high in 20 hours - 640 pips
That's an average of 32 pips/hour
Same as for UJ... either a retrace or a break through.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
"The only successful substitute for brains is silence."
  • #2,705
  • Jan 25, 2008 4:45am Jan 25, 2008 4:45am
Quoting PiPr Pro
What If?

oh great.... more riddles.... just what a bunch of confused traders need
  • #2,706
  • Jan 25, 2008 4:50am Jan 25, 2008 4:50am
Quoting dagoods
oh great.... more riddles.... just what a bunch of confused traders need


There's nothing like being Grasshopper, Huh?
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,707
  • Jan 25, 2008 5:31am Jan 25, 2008 5:31am
[quote=Dunkan;1819560]
Quoting GridTrader
GT,

I'm definately not Skunny Sensi, he's got the real answers, but I was also looking for this to go further down. What I noticed, is the same thing I have noticed at other times when the market was about to turn. First, on a small timeframe, fibs start to activate and then fail to reach their targets. You may see this 5 or 6 times in a row and at the same time you'll have larger time frame fib(s) fail as well. The failed fibs then activate and complete on the other side and price moves in that direction. This allows you to see (on a micro level if you will) the market changing direction. This happened three times last night when the market reached the lows. I didn't save my fibs, as it gets way too messy when you keep those small time frames on the chart as it moves. And I'll reiterate something that Issy said earlier, that it is best not to get focused on the smaller timeframes, but it helps to see what is really going on, especially when the market stalls. Hope this helps.
Dunkan, thanks for sharing this, sounds good, I'll be keeping a check on it.
  • #2,708
  • Edited 6:23pm Jan 25, 2008 7:42am | Edited 6:23pm
[/quote]--Dunkan

I'm definately not Skunny Sensi, he's got the real answers, but I was also looking for this to go further down. What I noticed, is the same thing I have noticed at other times when the market was about to turn. First, on a small timeframe, fibs start to activate and then fail to reach their targets. You may see this 5 or 6 times in a row and at the same time you'll have larger time frame fib(s) fail as well. The failed fibs then activate and complete on the other side and price moves in that direction. This allows you to see (on a micro level if you will) the market changing direction. This happened three times last night when the market reached the lows. I didn't save my fibs, as it gets way too messy when you keep those small time frames on the chart as it moves. And I'll reiterate something that Issy said earlier, that it is best not to get focused on the smaller timeframes, but it helps to see what is really going on, especially when the market stalls. Hope this helps.



This is a hot tip! I am accustomed to watching action unfold on 1 min and 10 sec charts, but never paid too much attention to whether they were making targets or not. Everyone keeps saying price action is key, and clues like these are pure price action...surely there are other little clues like this? I'm especially curious about what Islander and others that use the DZ look for when price is in there.
  • #2,709
  • Jan 25, 2008 9:08am Jan 25, 2008 9:08am
Hey 24HT - interesting post on your use and interpretation of the short TF fibs - thanks.

Here's a real outside of the box idea that I'm looking at and wondered what others think: So GJ has had a huge parabolic rally that finally stalled this morning within 5 pips of T2 on my 60 min chart - and that's probably due to my drawing - either way an outstanding target.

So now I'm looking to walk my SuBo Fib (OK if they dont like it, how about the I-Fib) on my 5m to look for a probable retrace area. Ah - that's a problem 'cause of the lack of pull backs in the move.

Now this is all about supply and demand, Support and Resistance - right?

I managed to work with 9690 for GU and 107.10 for UJ, but GJ was looking too far away for me - not a S/R area anywhere close.

Then I noticed the brown 210.49 level on my 5m chart - my colours all have a code and brown told me to look to a higher TF as that's where the line came from - it was also brown on my 15 m chart - mm...

So I walked my fib from the high to that line as a low - that was a 190 pip range and that's larger than usual for me on the 5m.

Just look what happened - pulled back into that DZ - just under the 50 line and bouced straight back out of the DZ - confirming (for me) that this was a was a valid fib for this purpose - a retracement.

Now what's the significence of 210.49 and why do I think we can use it - well let me know when you've worked it out - the clues are above!

I think this is an interesting hypothesis and IMO worthy of further investigation.

PS Ignore the salmon fib on the LHS - that's a much larger swing from the 15m chart.
Attached Image
Trading Levels with WRBs
  • #2,710
  • Jan 25, 2008 9:38am Jan 25, 2008 9:38am
Well sir 210.49 was the swing high of 2 days ago and the top of your fib that gave you the T2 target that nearly got hit today. Next question?? haha.
Edit - And an interesting idea on finding support. Thanks for that tip.
  • #2,711
  • Jan 25, 2008 9:57am Jan 25, 2008 9:57am
Quoting Bigkahuna
Well sir 210.49 was the swing high of 2 days ago and the top of your fib that gave you the T2 target that nearly got hit today. Next question?? haha.
Edit - And an interesting idea on finding support. Thanks for that tip.
Right in the first part, but do you get the idea that I am postulating?

LOL - please wait and lets see what Sizz makes of it I'm wondering if it will get him all excited of if he'll banish me to the bilges!
Trading Levels with WRBs
  • #2,712
  • Jan 25, 2008 10:03am Jan 25, 2008 10:03am
Guten Tag Fruende!

Just wanted a quick up, for those people still after SkunnyStyle 100% and piperfection in their fibs. i am not saying I am anywhere close but that is mah aim and the reason for the season. Bo and Issy style fib traders avert ye eyes! hehe

So boom. Black fib, Ianf0sters, not sure if it is valid that Dandruff shampoo is giving me the wiggles either way, it helps me in my study of swing and pa relative to this because of something in the leg of the swing so thanks Ian!

Sizzling Red fib, ding ding, piperfect so I like it. I missed out on some pips, but I am not concerned with that. just accuracy and whats for dinner mostly.

Yellow , I missed this one my righteous kung fu is weak still. I need more time screen time etc to spot set ups and patterns and valid Pa for this. It violates my rules, as I see pa, BUT if a little thing is off then it is dead on. so, I have to look at how I quantify things. Good stuff. I am learning and still testing. getting my "wrong" on.

191 pips from yellow ALMOST pip perfect about 7 pips off. Wahh;(
165 pips from red and pip perfect

there are smaller tf fibs you could use to get in on this move sooner if you are a pip piglet "I" see about 65 pips you could have added and daisy chained the fibs , should you like to "let er ride". Ia m sure there are way more and you could have taken almost the whole 700 ish pips flawlessly if you were a fib ninja. Unfortunately I am more like the beverly hills ninja hehe

So a potential 256 pip 100% for sure with 7 pips off. 230 flawlessly with draw down relative to your pa skill, but worst case not bad at all.

Chart fans, look yesterday at the 1H action on yen pairs, compare. Pretty neat-o nifty even if you only glance swiftly.

Sizz
Attached Image (click to enlarge)
Click to Enlarge Name: ejbig.gif Size: 19 KB
  • #2,713
  • Edited 11:01am Jan 25, 2008 10:07am | Edited 11:01am
Quoting Islander
Right in the first part, but do you get the idea that I am postulating?

LOL - please wait and lets see what Sizz makes of it I'm wondering if it will get him all excited of if he'll banish me to the bilges!
oh man RIGHT after i write an especially longwinded analysis post sheesh... let me put my one good eye on it Islander .all your charts get me running.. especially that electric light pyramid chart hehe I am sure it will be I in the Bilges matey not ye!

SIzz

K I am dizzy from DZ. I will use my dubious "powers" of contextual comprehension to infer from your post. I love mysteries


hmm since you used parabolic rally... and this is indeed a sharp one we might expect a nice break down / decending triangle to form...

OOooohhooo man it is fun to try to see things differently I am wrapping my mind around IFibs in 5 minutes

k since you said it was brown on 5 and 15 but stopped there it infers it was on a higher tf like 1hr? and that coupled with the example oh heck I am guessing but I gut feel like you are saying it is going to hit 210.50 and rocket away? Or as a pivotal break down point? AHHH sigh I am off to the bilge Capt lOL

hmm we did smash a dbl botto the big dubya... so my vote is up so 210.49 is a price trampoline?
Sizz
  • #2,714
  • Jan 25, 2008 10:30am Jan 25, 2008 10:30am
So once T1 is hit you are literally 'stacking' your second fib on top of your original, placing the new '0' line at the '100' line of the prior fib, then using T1 as the new '100' line on your current fib. Interesting as it makes the '0' of your current fib seem like it is hanging out in midair. But is it? Let's see how it plays out!

BK
  • #2,715
  • Jan 25, 2008 11:34am Jan 25, 2008 11:34am
Quoting Bigkahuna
So once T1 is hit you are literally 'stacking' your second fib on top of your original, placing the new '0' line at the '100' line of the prior fib, then using T1 as the new '100' line on your current fib. Interesting as it makes the '0' of your current fib seem like it is hanging out in midair. But is it? Let's see how it plays out!

BK
Not quite - once the current 100 line is broken, price will either move on to hit T1 or will fail. Either way that is now the new high for the swing and - assuming its more than a couple of pips - I'll be thinking about walking my fib out. As to when its time to actually do this I'm still researching, but a break of the AL line looks promising.

However, I would not move my 0 line all the way up to my "old 100" line but would re-assess the level for the new 0 line - certainly no closer than the old 50% level would seem to be the maximum - assuming a T1 hit.
Trading Levels with WRBs
  • #2,716
  • Jan 25, 2008 11:47am Jan 25, 2008 11:47am
Quoting sizzler
oh man RIGHT after i write an especially longwinded analysis post sheesh... let me put my one good eye on it Islander .all your charts get me running.. especially that electric light pyramid chart hehe I am sure it will be I in the Bilges matey not ye!

SIzz

K I am dizzy from DZ. I will use my dubious "powers" of contextual comprehension to infer from your post. I love mysteries


hmm since you used parabolic rally... and this is indeed a sharp one we might expect a nice break down / decending triangle to form...

OOooohhooo man it is fun to try to see things differently I am wrapping my mind around IFibs in 5 minutes

k since you said it was brown on 5 and 15 but stopped there it infers it was on a higher tf like 1hr? and that coupled with the example oh heck I am guessing but I gut feel like you are saying it is going to hit 210.50 and rocket away? Or as a pivotal break down point? AHHH sigh I am off to the bilge Capt lOL

hmm we did smash a dbl botto the big dubya... so my vote is up so 210.49 is a price trampoline?
Sizz

ROFL Sizz - I can almost hear those cogs a whirllin from here (Spain), where its POETS Day already and the Mount Gay is open and being imbibed steadily.....mm, now what kind of level was 210.49 there in lies the conumdrum....he he

PS I did read your post but my attention to MG will delay a suitable attentive resoponse.
Trading Levels with WRBs
  • #2,717
  • Jan 25, 2008 11:50am Jan 25, 2008 11:50am
Quoting Islander
Not quite - once the current 100 line is broken, price will either move on to hit T1 or will fail. Either way that is now the new high for the swing and - assuming its more than a couple of pips - I'll be thinking about walking my fib out. As to when its time to actually do this I'm still researching, but a break of the AL line looks promising.

However, I would not move my 0 line all the way up to my "old 100" line but would re-assess the level for the new 0 line - certainly no closer than the old 50% level would seem to be the maximum - assuming a T1 hit.
Thanks for sharing this, Islander, I've been experiencing the same thing and wasn't sure if I was on track.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,718
  • Jan 25, 2008 12:55pm Jan 25, 2008 12:55pm
Not to interfere with your Friday night(it's only lunch time here) but I have an additional question. On the H1 chart, what do you use as a 'normal' range for a fib? When talking about your GY fib that hit T2 today, that one was pulled 2 days ago. While I don't have a chart in front of me, it seems several smaller fibs could have been pulled since 2 days ago. Granted, that fib did not hit the Target until today so you didn't walk it, but there seems to be plenty of fibs on my charts that 'go stale'. Or maybe I am just to impatient to wait for them to develop completely.

Do we fall back to the premise that a pullback is needed to validate the fib and once it is validated, it needs to stay on the chart until it hits a target? Rather than jumping around and making new H1 fibs?

I'm struggling with that and am trying to bring some order to it.

Gracias,
BK
  • #2,719
  • Jan 25, 2008 1:01pm Jan 25, 2008 1:01pm
Quoting Islander
ROFL Sizz - I can almost hear those cogs a whirllin from here (Spain), where its POETS Day already and the Mount Gay is open and being imbibed steadily.....mm, now what kind of level was 210.49 there in lies the conumdrum....he he

PS I did read your post but my attention to MG will delay a suitable attentive resoponse.
Issy,

Awesome. Sounds good thanks for inviting me...good grief..! all the fun things I get left out of.. Rum swilling , pip pirating...

I haven't heard POETS day in a while hehehe We just get the watered down TGIF it is only 2 here so i am going to wait until 5 lest I be thought of as the WC fields of Fx trading

The cogs have been whirling like that since the first chart got posted here By Skunny

Let me know what you are thinking. I am ready for anything except clowns riding landsharks. take your time guzzle your Rum issy!

Sizz
  • #2,720
  • Jan 25, 2008 1:10pm Jan 25, 2008 1:10pm
many of us have been trading vhands demoing skunnyfibs like crazy and there are no rules in place still...lately there are so many opinions and e1 seems to have aha moments and then just more questions..... i personally am trying to draw fibs the same each time.... and then leave them in place rather than walk them... until they are no longer useable.....In this quest I have found that inner fibs are useful as well...but have yet to find an exact science..... but who really knows.... what we know so far is breaks of 0 and 100 give us nice 138 targets....usually, and you know what that is AWESOME in and of itself..... but thats all i really know,,,,still.... even after countless hours of studying the charts on this thread and vhands and demoing skunnyfied fiboruskies...... dont get me wrong, its great.... but i also wish we had some objective rules in place.... maybe O'Sensei will drop by with another hint this weekend and we can all go nuts some more Personally my brain is scrambled rather than skunny side up at this point but i think i have made some progress as it seems like many on this thread have....So I am ever grateful to Skunny and wish to express my sincere thanks

lets all keep at it and maybe we can bust the tale of the elusive moley quail and solve the riddle of the SKunnyfibididdle.... (hey it rhymed all right!) I know sizzler must have 1 minute spiderweb cobfibs tangling his brainstem..... but sizz is my hero in his strive for perfection and endless tenacity

Kudos to all of you on this thread
25 traders viewing now