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  • #2,121
  • Feb 6, 2008 4:05am Feb 6, 2008 4:05am
Quoting ChowClown
What timeframe and period ATR do you use?
From previous system hopping I was in the habit of looking at 5 or 10 on the daily (to get 1 or 2 weeks worth, it doesn't seem to really matter much) and taking somewhere around 70% of ATR as a daily reasonable pip move to expect...so in current times the ATR is around 160 to 170 and 70% gives somewhere up to 120 pips a day range, which I round off to expect 100 pips.

Then further fudging, well, if I see 80 pips happening in a day, I'm probably going to consider the move of the day complete with discretion.

So really I don't have a clue. I just get scared when I see big sticks on the screen.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,122
  • Feb 6, 2008 4:22am Feb 6, 2008 4:22am
Quoting Thexder
From previous system hopping I was in the habit of looking at 5 or 10 on the daily (to get 1 or 2 weeks worth, it doesn't seem to really matter much) and taking somewhere around 70% of ATR as a daily reasonable pip move to expect...so in current times the ATR is around 160 to 170 and 70% gives somewhere up to 120 pips a day range, which I round off to expect 100 pips.

Then further fudging, well, if I see 80 pips happening in a day, I'm probably going to consider the move of the day complete with discretion.

So really I don't have a clue. I just get scared when I see big sticks on the screen.
I hope your wrong, I'm short right now.
  • #2,123
  • Feb 6, 2008 4:28am Feb 6, 2008 4:28am
Quoting Jared
I hope your wrong, I'm short right now.
There's always room for more. But after a big move the way I update trading ranges it's too much to span unless a certain consolidation forms that I can hone in on.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,124
  • Feb 6, 2008 4:36am Feb 6, 2008 4:36am
Quoting ianf0ster
Hi Bo,
Where does the intraday Fib go now? Is it:

1. Still Friday high to Sunday low?
This would appear sensible if you are in a short and are targeting its T1 or T2 (which I am not).

2. Extended from Friday high to Tuesday low?
This appears sensible if you treat Monday/tuesday as minor consolidation.

3. Or is it a new one Monday high to Tuesday Low?
This seems the more litteral interpretation of how you described the Intraday in this thread.

Please help me understand it.
Thanks,
Ian
Ive moved mine to the movement of Monday and just marked 1.9510 as a possible target from the one drawn across last friday.
  • #2,125
  • Feb 6, 2008 4:40am Feb 6, 2008 4:40am
Quoting Big Wave Rider
P.m me the website(s) that are copying your videos and I'll see if I can have a certain friend of mine take it off or alter their site a little bit or both. Sometimes I love being an evil bastard but only when the other person deserves it which reminds me of a quote one member here has

"I believe in karma, which is why I beat people over the head with my stick, because I believe they deserve it" Classic
LOL, its not worth it. I dont know for sure what they are doing with them. Certainly good to know though for future problems.
  • #2,126
  • Feb 6, 2008 4:41am Feb 6, 2008 4:41am
Awesome I see everyone took the short today...great job !
  • #2,127
  • Feb 6, 2008 5:29am Feb 6, 2008 5:29am
Just a quick question on today's short. Was it one of those shorts that you don't wait for the close of a candle because of the momentum at which it broke thru the swing fib?

I ask because I usually wait to the close of a candle to get in, but I have seen several times that by the end of a candle you are at a TP level and missed the entire move.
  • #2,128
  • Feb 6, 2008 5:49am Feb 6, 2008 5:49am
Quoting wave catcher
Just a quick question on today's short. Was it one of those shorts that you don't wait for the close of a candle because of the momentum at which it broke thru the swing fib?

I ask because I usually wait to the close of a candle to get in, but I have seen several times that by the end of a candle you are at a TP level and missed the entire move.
I don't know about anyone else, but I put a sell limit order in just under the Swing Short.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,129
  • Feb 6, 2008 6:05am Feb 6, 2008 6:05am
Thanks galaxymom. Also I see you guys placed a swing fib at the high of 1:00 gmt. I thought we do not put too much weight on those times or was it done because of what happen in the couple hours afer that time (2 down candles)?
  • #2,130
  • Feb 6, 2008 6:13am Feb 6, 2008 6:13am
Quoting wave catcher
Thanks galaxymom. Also I see you guys placed a swing fib at the high of 1:00 gmt. I thought we do not put too much weight on those times or was it done because of what happen in the couple hours afer that time (2 down candles)?

For me, my high of the Swing fib was where the high formed in the new day, today, which was also resistance.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,131
  • Feb 6, 2008 11:25am Feb 6, 2008 11:25am
Quoting ernesto
The attached MT4 plugin draws the Boxes for the Fibs automatically... of course the fibs still have to be drawn manually.

To make it work you have to edit the file and replace the fib names by the fib names you are using in your chart...
This is really nice - thank you
  • #2,132
  • Feb 6, 2008 4:43pm Feb 6, 2008 4:43pm
Bo

Just making sure I have my ducks in a row here, I would think that since the IDay fib's target was not met, and price retraced short of the IDay 38 level, yet broke the IDay low, for today we extend the low but don't move the high?
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,133
  • Feb 6, 2008 5:10pm Feb 6, 2008 5:10pm
Hey Bo would you draw your intraday and swing fibos as of this moment time...as we are ending day..I want to check something

thanks

Greg D
  • #2,134
  • Feb 6, 2008 6:41pm Feb 6, 2008 6:41pm
Quoting eegle
Hey Bo would you draw your intraday and swing fibos as of this moment time...as we are ending day..I want to check something

thanks

Greg D
Sure.
From yesterdays Intraday we did retrace to the Short fib level but failed to reach the targets of it. So its enough to move it up to the next day now or Today from the high point to the low point. The swing is the retracement into todays move, but can be moved around to keep up with price.
We retraced up to the Long fib already of todays Intraday but havnt broken it yet, so there is buying interest starting to show up...how much remains to be seen.
Attached Image (click to enlarge)
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  • #2,135
  • Feb 6, 2008 6:51pm Feb 6, 2008 6:51pm
Quoting galaxymom
Bo

Just making sure I have my ducks in a row here, I would think that since the IDay fib's target was not met, and price retraced short of the IDay 38 level, yet broke the IDay low, for today we extend the low but don't move the high?
Close...Your still using the Intraday as if it were the Retracement fib....what does it mean when a Intraday target isnt reached ?
What fib level has shown good support earlier today from the Daily chart ?
The Intraday drawn across today will answer the question of continuation or ranging and possible reversal soon.
  • #2,136
  • Feb 6, 2008 7:06pm Feb 6, 2008 7:06pm
Sorry but I wont be around much tonight, its tax time and my CPA is here...good luck with your trading tonight.
  • #2,137
  • Feb 7, 2008 2:31am Feb 7, 2008 2:31am
Is anybody trading this morning or are we all waiting for the interest rate announcement?

Thexder was right btw, I shouldn't have taken that extra short last night. Luckily I just broke even a few minutes ago and closed it. It's been stuck in a range for 24 hours.
  • #2,138
  • Feb 7, 2008 2:43am Feb 7, 2008 2:43am
Quoting Jared
Is anybody trading this morning or are we all waiting for the interest rate announcement?

Thexder was right btw, I shouldn't have taken that extra short last night. Luckily I just broke even a few minutes ago and closed it. It's been stuck in a range for 24 hours.
I went short at 1.9607 and moved my stop loss to 1.9573. Price knock at support at least 8 times, and I decided 25 pips in the bank was a good deal, and if it breaks support I can re-enter.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,139
  • Feb 7, 2008 2:50am Feb 7, 2008 2:50am
Quoting galaxymom
I went short at 1.9607 and moved my stop loss to 1.9573. Price knock at support at least 8 times, and I decided 25 pips in the bank was a good deal, and if it breaks support I can re-enter.
Hi GM,
Can you tell me why you went short at 1.9607? I make the Swing short to be 1.9603 - so would expect a short to be below 1.9600.

I keep getting suckkered into longs.

Thanks,
Ian
  • #2,140
  • Feb 7, 2008 2:57am Feb 7, 2008 2:57am
Quoting ianf0ster
Hi GM,
Can you tell me why you went short at 1.9607? I make the Swing short to be 1.9603 - so would expect a short to be below 1.9600.

I keep getting suckkered into longs.

Thanks,
Ian
At the end of that little run up was that spinning top, and price did what I expected and turned bearish, I entered at the Intraday Pivot, but I had looked to short earlier, and considered this buying the rally, besides I'm a bit Fearless, and tend to be aggressive with my entries.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
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