Disliked...................... I can fib a GJ 150+ pip candle and it will hit T2 to the pip 99% of the time, .......................Ignored
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Disliked...................... I can fib a GJ 150+ pip candle and it will hit T2 to the pip 99% of the time, .......................Ignored
Dislikedare you saying you have backtested and 99% of the time a 150+ pip candle hits T2? that's the moley quail - can you elaborate?Ignored
DislikedHello PiPr
Yes please go ahead I think I am speaking here for the majority as we are stagnated and need some more info so we can proceed or asses and correct our ways of drawing fibos. re indicator any chance to get my hands on it?
Ignored
Disliked.............. i certainly will share my results....
again i challenge u to find me an example where 138 is hit and broken and 161 not acheived, unless price reversed at a larger time frame fib level of courseIgnored
Dislikedok - let me add some code and notes to the indicator so that you can go into the code and set it for doji or candles of a certain height (galaxymom's idea). The "indicator" can be dropped into any chart (vHands or regular) to simply notate the Doji candles that meet your definition. This allowed me to quickly ascertain what PA occurred around the Doji instead of hovering my cursor over the candle to see if the close/open were a certain spread, etc.
I will be back to the computer in about 30 minutes to make that change and then post some of the Doji trade issues I have found over the years.Ignored
DislikedI'm going to be out for a while this morning (I'm CST BTW) But I just want to address the traders that have made comments in the past about "Fibonacci doesn't work" "it's self fulfilling" "if you draw enough fibs it's bound to hit one of them".
I bring this up because I don't want any here to believe this stuff. There are threads here that suggest fibs don't work. Like anything else, if you have a tool you don't know how to use, it wont work. If you don't believe me try driving a 16d nail into a 2x4 of walnut with a screwdriver.
I'm going to post a monthly chart with a fib on it. I just didn't place this fib where it is now. I brought the fib there by a series of previous moves. Now if you look at this chart, do you think there is anyone on the planet, even fib traders, that would pick this spot to draw a fib? Notice how it completed the extensions per it's mission and that was determined 1000's of pips prior.
You see, traders don't decide where fibs should be drawn the price action does. When you learn to listen to the market your fib can be here to.
I didn't add up the pips on this monthly move but I'm sure someone will.
I would never trade a monthly chart, but it's nice to know the infoIgnored
P.S. by 10 pip trail stop I meant a candle trail stop. The stop is only moved after each candle completes
DislikedPipr Pro,
................... it was almost certain to go to at least the 138 extension.Ignored
Disliked...................But to answer your question YES retracement is always to the at least 38 or 61 level from a fib drawn in the correct place as a retracement type fib.... at least my research suggests this is true... my research also suggests that a break of 0 or 100 of these "retracement" fibs ALWAYS 100% of the time reach 138(-138) ext at least and furthermore...if they pierce the 138 they go on to at least the 161....
...................Ignored
Disliked................you use the extensions for targets after a contraction and you use the contractions after an expansion.....Ignored
DislikedIn this matter of a VALID FIB, if the last fib completed while moving up, does the retrace need to be to the 61 or to the 38 level?
Thank you?Ignored
Disliked“To be or not to be, that is the question;
Whether 'tis nobler in the mind to suffer Skunny's wrath
The slings and arrows of outrageous fibonacci,
Or to take arms against a sea of troubles,
And by opposing, end them. To sleep and dream till dawn of Fibonacci's line;
No more; and by a sleep to say we end vHands test
The heart-ache and the thousand natural shocks
That flesh is heir to — 'tis a consummation
Devoutly to be wish'd.Ignored