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  • #2,781
  • Mar 16, 2008 8:33pm Mar 16, 2008 8:33pm
Right when I talk about a short opportunity it bounces back up. LOL. now I am thinking long if the candlestick closes above the Long at the candlestick open.
  • #2,782
  • Mar 16, 2008 8:35pm Mar 16, 2008 8:35pm
Quoting galaxymom
Right, and that's what I'm catching for 15 pip profits right now.
Trading inner fib levels toward the outside on each pass?
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #2,783
  • Mar 16, 2008 8:44pm Mar 16, 2008 8:44pm
Quoting logiktrader
Right when I talk about a short opportunity it bounces back up. LOL. now I am thinking long if the candlestick closes above the Long at the candlestick open.
Right, it pierced the Intraday Low and bounced back to the Swing Long, making railroad tracks, watch for that formation.
Attached Image (click to enlarge)
Click to Enlarge Name: gu bo 3.gif Size: 22 KB
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,784
  • Mar 16, 2008 9:01pm Mar 16, 2008 9:01pm
Quoting Thexder
Trading inner fib levels toward the outside on each pass?
Trading the return on the pierce of the Low to the long, and the long to the Low of my swing fib.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,785
  • Mar 16, 2008 9:25pm Mar 16, 2008 9:25pm
Galaxy, I have spent most of my time focusing on the breaks from the pivot area above Long or below Short. How often do you trade rejections from within the zone, low/high, or T1/T2?
  • #2,786
  • Mar 16, 2008 9:29pm Mar 16, 2008 9:29pm
Quoting logiktrader
Galaxy, I have spent most of my time focusing on the breaks from the pivot area above Long or below Short. How often do you trade rejections from within the zone, low/high, or T1/T2?
I trade most of the time from with in the fib levels, depending on the candle formations and patterns, I may take it to the TP's, but I tend to go for shorter targets, in and out in a short time for more trades, and less time for price action to turn against me. But I do trade the breaks of the 0 AND 100 levels, but I'm cautious because I see Price turn at the short and long too many times.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,787
  • Mar 16, 2008 9:48pm Mar 16, 2008 9:48pm
The breaks of the 0 and 100 have been very good to me.

Would you explain what you are doing on the inner fibs, are u playing retraces from the 38 and 61 fib levels

HH
  • #2,788
  • Mar 16, 2008 9:51pm Mar 16, 2008 9:51pm
Quoting galaxymom
I trade most of the time from with in the fib levels, depending on the candle formations and patterns, I may take it to the TP's, but I tend to go for shorter targets, in and out in a short time for more trades, and less time for price action to turn against me. But I do trade the breaks of the 0 AND 100 levels, but I'm cautious because I see Price turn at the short and long too many times.
Do you wait for any candle to close (1HR, 30MIN), or just based on price movement?
Do you also wait for a certain break/bounce? Like a 10% bounce from Low, from the range from High-Low?

My questions are getting a bit more complicated, hope they make sense and that you don't mind answering them.
  • #2,789
  • Mar 16, 2008 10:14pm Mar 16, 2008 10:14pm
Quoting hharrington
The breaks of the 0 and 100 have been very good to me.

Would you explain what you are doing on the inner fibs, are u playing retraces from the 38 and 61 fib levels

HH
It's looking for pierces and breaks of different levels, and having an idea where they are going to go.

It's complicated to explain, but when I was doing vhands I began to see a pattern of price making double bottoms and tops and certain candles sending price to levels depending on the strength of that candle. I saw all the pips on the table between the O and 100 levels, and I had to find a way to grab them. I can't post examples at the moment, but it is something you have to see for yourself. You have to train your eye and your brain and trade it on demo till you are really comfortable with it, also.

Sorry to be so vague at the moment.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,790
  • Mar 16, 2008 10:21pm Mar 16, 2008 10:21pm
Quoting logiktrader
Do you wait for any candle to close (1HR, 30MIN), or just based on price movement?
Do you also wait for a certain break/bounce? Like a 10% bounce from Low, from the range from High-Low?

My questions are getting a bit more complicated, hope they make sense and that you don't mind answering them.
Again it's not an easy answer, but if I am waiting for a break of the 0 level, I want to wait for the next candle. I trade on the Hour1 time frame. I watch a break of the o or 100 for a pull back and if it pulls back and doesn't break back thru then be ready for price to reverse, and there is a candle pattern that is common for that scenario. This is different from what most teach, but it serves my trading. I'll try to get some examples ready tomorrow, or later depending on trading.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,791
  • Mar 16, 2008 10:35pm Mar 16, 2008 10:35pm
I had some charts saved with examples, I hope these help.

1. Where the Short/Low is broken and price reverses to the Long/High

2. The three white ovals show the Pierce-reversal pattern
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gjy tf 2.gif Size: 22 KB
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,792
  • Mar 16, 2008 10:37pm Mar 16, 2008 10:37pm
Here are some more examples

That should say Watch instead of What for this pattern
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu tf.gif Size: 22 KB
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Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,793
  • Mar 17, 2008 6:06pm Mar 17, 2008 6:06pm
Let me know if you think i placed the fibbs right...Thanks.


Attached Image (click to enlarge)
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  • #2,794
  • Mar 17, 2008 6:10pm Mar 17, 2008 6:10pm
Quoting Shermenator
Let me know if you think i placed the fibbs right...Thanks.


Attachment
I get an error message when I try your link. Can you go to Manage Attachments (below the Message Window) and attach your chart through that process?

Thanks
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,795
  • Mar 17, 2008 8:44pm Mar 17, 2008 8:44pm
Quoting galaxymom
It's looking for pierces and breaks of different levels, and having an idea where they are going to go.

It's complicated to explain, but when I was doing vhands I began to see a pattern of price making double bottoms and tops and certain candles sending price to levels depending on the strength of that candle. I saw all the pips on the table between the O and 100 levels, and I had to find a way to grab them. I can't post examples at the moment, but it is something you have to see for yourself. You have to train your eye and your brain and trade it on demo till you are really comfortable with it, also.

Sorry to be so vague at the moment.
Wow, I just started reading Skunny's thread about the Vhands for the first time. That stuff is amazing, I wish I found it earlier! Thanks for brining it up in my post, because I remember seeing the thread but just ignored it in the past.
  • #2,796
  • Mar 17, 2008 8:53pm Mar 17, 2008 8:53pm
Quoting logiktrader
Wow, I just started reading Skunny's thread about the Vhands for the first time. That stuff is amazing, I wish I found it earlier! Thanks for brining it up in my post, because I remember seeing the thread but just ignored it in the past.
That's really great!
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,797
  • Mar 17, 2008 9:08pm Mar 17, 2008 9:08pm
Quoting Shermenator
Let me know if you think i placed the fibbs right...Thanks.


Attachment
Here's how would have it set up, hope this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: gu bo 4.gif Size: 17 KB
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,798
  • Edited 5:29am Mar 18, 2008 4:54am | Edited 5:29am
This 2 videos should clear up alot stuff....They should help alot!!!!!!!!!!!!!!!!

page takes a littel to load but its worth it!!!!

http://www.jeff-parks.com/html/fibo_s_2.html

and

http://www.jeff-parks.com/html/fibo_s_3.html


Let me know what you guys think...
  • #2,799
  • Mar 18, 2008 7:18am Mar 18, 2008 7:18am
Thanks Jets, nice bit of information.
  • #2,800
  • Mar 18, 2008 8:28am Mar 18, 2008 8:28am
Hey Folks,

When price retraces before dropping, which high should you use?!

Thanks,
Steve
Attached Image (click to enlarge)
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