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  • #2,541
  • Feb 27, 2008 3:35am Feb 27, 2008 3:35am
just wanted to drop a line and say thaks for the video BO... really great and simple and exlained verry well... you have a second career as a teacher if u ever want it


for me 1 good video is
worth a million charts and words

and big thank you for the tread! much appreciated!
  • #2,542
  • Feb 27, 2008 5:12am Feb 27, 2008 5:12am
Thanks kathy,i think i get it now.What i really need now is the retracement fib's which for now i can't pull.Can u be of help?
  • #2,543
  • Feb 27, 2008 5:40am Feb 27, 2008 5:40am
Trading off a higher time frame with wide stops, I have similar results
on my live a/c, infact I sold g/j at 212.65 on my live a/c, thank you Bo,
fibs help a lot.

Thanks.
Mukesh
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  • #2,544
  • Feb 27, 2008 6:57am Feb 27, 2008 6:57am
Quoting dagoods
just wanted to drop a line and say thaks for the video BO... really great and simple and exlained verry well... you have a second career as a teacher if u ever want it


for me 1 good video is
worth a million charts and words

and big thank you for the tread! much appreciated!

Actually I am working on that, I would love to be able to teach this as a career the opportunity just isnt there yet..but soon hopefully. The 18 hour days im putting in are ruining my health.
  • #2,545
  • Feb 27, 2008 7:03am Feb 27, 2008 7:03am
Quoting hiswords
Thanks kathy,i think i get it now.What i really need now is the retracement fib's which for now i can't pull.Can u be of help?

The retracement fib is drawn on all the moves counter to the current trend, in the case of cable the trend is down so all the moves that go counter or retrace into the trend is where you place your Retracement fib.
I marked all the previous Retracement fib locations and the fib on the current one.
Attached Image (click to enlarge)
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  • #2,546
  • Feb 27, 2008 7:45am Feb 27, 2008 7:45am
Quoting hiswords
Thanks kathy,i think i get it now.What i really need now is the retracement fib's which for now i can't pull.Can u be of help?
Here's my take on it, the Retracement Low has been broken, so in fact the DownTrend has resumed.
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Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,547
  • Feb 27, 2008 8:24am Feb 27, 2008 8:24am
Quoting Bobokus
Actually I am working on that, I would love to be able to teach this as a career the opportunity just isnt there yet..but soon hopefully. The 18 hour days im putting in are ruining my health.
Bo,

The one thing I am not liking about forex is that most of the good entries are near London open and I live in New York time. And trading the 1H I too sometimes spend way to much time on it - which of course affects one's health due to sleep.

I am thinking of looking into weekly / daily timeframes - or monthly / daily - have you looked into this before to see what works best?
  • #2,548
  • Feb 27, 2008 8:34am Feb 27, 2008 8:34am
Hey Folks,

Does anyone know how to make the font size larger on the Fib retracement tool? It may be that this is in the platform code and not adjustable...

Thanks,
TULKAS
  • #2,549
  • Feb 27, 2008 8:53am Feb 27, 2008 8:53am
Quoting maxster
Bo,

The one thing I am not liking about forex is that most of the good entries are near London open and I live in New York time. And trading the 1H I too sometimes spend way to much time on it - which of course affects one's health due to sleep.

I am thinking of looking into weekly / daily timeframes - or monthly / daily - have you looked into this before to see what works best?
I can definately relate to that. I originally started trading this type fib method on the Daily chart and may have to go back to that for a while to give myself a break. Ill try to put something together this weekend to suit more from the Daily chart.
  • #2,550
  • Feb 27, 2008 8:56am Feb 27, 2008 8:56am
Quoting Tulkas
Hey Folks,

Does anyone know how to make the font size larger on the Fib retracement tool? It may be that this is in the platform code and not adjustable...

Thanks,
Dont think the font size can be changed unless someone programs a custom fib tool with an adjustable font size.
  • #2,551
  • Feb 27, 2008 12:52pm Feb 27, 2008 12:52pm
Quoting Bobokus
The retracement fib is drawn on all the moves counter to the current trend, in the case of cable the trend is down so all the moves that go counter or retrace into the trend is where you place your Retracement fib.
I marked all the previous Retracement fib locations and the fib on the current one.
Hi Bo, so according to what you are saying here, the Retracement set of Fibs, from the daily chart, should now be moved to todays new High, because its higher than the last retracement swing high from Jan.30/2008, right ??

So if the GBP keeps moving higher, we should keep moving that retracement fib up to the new highs, but at which point do we say that we are back in an uptrend, when the GBP breaks the high on Nov. 19/2007 ??
Maybe you could do a daily chart to show us when you get the time.
  • #2,552
  • Feb 27, 2008 1:28pm Feb 27, 2008 1:28pm
Hey Bo

Just wondering if you would move your intraday fib now to the extreme high and low of today or wait until tommorow.

I thought you dd somethng similar at the end of the video?

If they are meant to be moved now then it looks like a great set up to go short - with the double top formation and the intraday short being broken! (unless I'm wrong and the intraday short is still way off!!!)

Thanks Bo
Time hides Nothing
  • #2,553
  • Feb 27, 2008 1:32pm Feb 27, 2008 1:32pm
HEy all

Would I be right in saying today was a great day for scalping off the swing trades?
Time hides Nothing
  • #2,554
  • Feb 27, 2008 1:34pm Feb 27, 2008 1:34pm
Quoting CindyXXXX
Hey Bo

Just wondering if you would move your intraday fib now to the extreme high and low of today or wait until tommorow.

I thought you dd somethng similar at the end of the video?

If they are meant to be moved now then it looks like a great set up to go short - with the double top formation and the intraday short being broken! (unless I'm wrong and the intraday short is still way off!!!)

Thanks Bo
We don't move our Intraday fibs until the new day begins in our afternoon here in the US. Here's my chart, what we see is the Swing Low about to break.
Attached Image (click to enlarge)
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Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,555
  • Feb 27, 2008 1:42pm Feb 27, 2008 1:42pm
Bo

Regarding the Retracement Fib, since the high was just penetrated, will we move the High, or leave it until it is breached?
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,556
  • Feb 27, 2008 1:45pm Feb 27, 2008 1:45pm
Quoting forexpipmaster
Hi Bo, so according to what you are saying here, the Retracement set of Fibs, from the daily chart, should now be moved to todays new High, because its higher than the last retracement swing high from Jan.30/2008, right ??

So if the GBP keeps moving higher, we should keep moving that retracement fib up to the new highs, but at which point do we say that we are back in an uptrend, when the GBP breaks the high on Nov. 19/2007 ??
Maybe you could do a daily chart to show us when you get the time.
Pip Master...

You're right about moving the retracement fib to each new high...

Don't take my word for it cause Im still learning too, but I don;r think we are in an up trend again until the down trend level (long) is broken...

If someone could confirm this?
Time hides Nothing
  • #2,557
  • Feb 27, 2008 1:49pm Feb 27, 2008 1:49pm
Thanks for that galaxy mom...

getting there!

So the start of a new day is ust the 00:00 on the meta trader charts? I think it's in London time?
Time hides Nothing
  • #2,558
  • Feb 27, 2008 1:53pm Feb 27, 2008 1:53pm
Quoting CindyXXXX
Thanks for that galaxy mom...

getting there!

So the start of a new day is ust the 00:00 on the meta trader charts? I think it's in London time?
It is GMT time. But it occurs on your broker's chart at the close of their business day and is also related to their GMT time. FXDD is different than IBFX by one hour, etc.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,559
  • Feb 27, 2008 2:01pm Feb 27, 2008 2:01pm
When I look at a USD/CHF chart it seems I only need 3 Fibs at the moment... A downtrend, intraday and the swing....

Is this how you pros would do it or am I missing something?

Thanks
Time hides Nothing
  • #2,560
  • Feb 27, 2008 2:08pm Feb 27, 2008 2:08pm
Quoting CindyXXXX
When I look at a USD/CHF chart it seems I only need 3 Fibs at the moment... A downtrend, intraday and the swing....

Is this how you pros would do it or am I missing something?

Thanks
Looks about right to me, you could have a Leg fib pulled from the last retracement high to this low, but I don't think it's necessary.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
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