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  • #4,241
  • Jul 1, 2008 10:42pm Jul 1, 2008 10:42pm
I put a limit order cause i wanted to go to bed! And now price have retrace back in the no trade zone, i wonder what is best way to filter false breakout?


It's to late for that trade, i let it run anyway...
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  • #4,242
  • Jul 1, 2008 11:53pm Jul 1, 2008 11:53pm
Quoting GreatYves
I put a limit order cause i wanted to go to bed! And now price have retrace back in the no trade zone, i wonder what is best way to filter false breakout?


It's to late for that trade, i let it run anyway...
IMO.. The intraday and swing levels are too close to each other. Trust the longer time frames and fibo levels that have more bars in their readings. Swing fibos will give more false positives than the intraday levels.
  • #4,243
  • Jul 2, 2008 6:48am Jul 2, 2008 6:48am
Quoting logiktrader
IMO.. The intraday and swing levels are too close to each other. Trust the longer time frames and fibo levels that have more bars in their readings. Swing fibos will give more false positives than the intraday levels.
Me personally I look for the Intraday levels and once ive entered a trade I follow along with a swing.
  • #4,244
  • Jul 2, 2008 7:05am Jul 2, 2008 7:05am
Quoting Shermenator
Price has broken intraday 61.8 fibb has reached a target in the daily chart and swing fibb is holding short after braking the intraday levels overall look is bearish.
Also bearish news is expected.

I am short...
Dear Shermenator:
I am short too, but i have some question to ask you. did you wait the close of that big down to entry.
also i have see many support below, so i close it when the bar completed. so how to know whether it will break the support further.
regards
I need time ,I need money, I need more patience
  • #4,245
  • Jul 2, 2008 7:10am Jul 2, 2008 7:10am
just want to ask wheather would you guys be trading tomorrow with nfp at 8.30 pm est
  • #4,246
  • Jul 2, 2008 8:21am Jul 2, 2008 8:21am
Im leaving to go on a vacation the rest of this week and next week so I may not be around very much. Good luck everyone!
  • #4,247
  • Jul 2, 2008 8:33am Jul 2, 2008 8:33am
Quoting Bobokus
Im leaving to go on a vacation the rest of this week and next week so I may not be around very much. Good luck everyone!
Have a good vaca.
  • #4,248
  • Jul 2, 2008 8:34am Jul 2, 2008 8:34am
Beautiful.
Attached Image (click to enlarge)
Click to Enlarge Name: fibo4.gif Size: 21 KB
  • #4,249
  • Jul 2, 2008 8:51am Jul 2, 2008 8:51am
Have a wonderful vacation, Bobokus - enough people have learned from you and will be able to keep the thread interesting.
  • #4,250
  • Jul 2, 2008 8:58am Jul 2, 2008 8:58am
Quoting ztdep
Dear Shermenator:
I am short too, but i have some question to ask you. did you wait the close of that big down to entry.
also i have see many support below, so i close it when the bar completed. so how to know whether it will break the support further.
regards

I was short in an early trade I took it during toko session and held as long as my 61.8 fibb from my swing fibb held The first arrow is the candle i shorted in....and the second arrow is the candle i had my stop above the high. Once iI have good pips I place my stop in the previous candles high...and let the market take me out...

Attached Image



I made 81 pips in my short yesterday.
  • #4,251
  • Jul 2, 2008 9:05am Jul 2, 2008 9:05am
Quoting Bobokus
Me personally I look for the Intraday levels and once ive entered a trade I follow along with a swing.
So Bo when you follow with the swing fib, when would you exit if it started to go against you. Would it be a break of the swing high/low?
  • #4,252
  • Jul 2, 2008 9:18am Jul 2, 2008 9:18am
[quote=Shermenator;2087891]I was short in an early trade I took it during toko session and held as long as my 61.8 fibb from my swing fibb held
Well done Shermenator. You have answered my last question I put to Bo. Stop above 62% swing fib, correct. You must be doing well with your trading. Me, I was going well but have traded dumb this week so far. I neeed to make my entry`s at the inner fibs. I dont enter until a break of high/low, which in affect limits any profits & also puts me at risk of losses.
  • #4,253
  • Jul 2, 2008 9:23am Jul 2, 2008 9:23am
[quote=Hensby;2087923]
Quoting Shermenator
I was short in an early trade I took it during toko session and held as long as my 61.8 fibb from my swing fibb held
Well done Shermenator. You have answered my last question I put to Bo. Stop above 62% swing fib, correct. You must be doing well with your trading. Me, I was going well but have traded dumb this week so far. I neeed to make my entry`s at the inner fibs. I dont enter until a break of high/low, which in affect limits any profits & also puts me at risk of losses.
Taking breack of high and low can catch you at tops or bottoms same thing if you wait for the 61.8 to breack. You need to give importance swings more importance then other. Last night we had a bearish swing breack onme and was telling me my short was not so hot. I decided to play to the bigger swing....and also looked for swing extension so I knew the places would run out of voulme and have the most sellers back...

In the fallowing posts I will put some swing stuff trying to explain a bitt.
  • #4,254
  • Jul 2, 2008 9:41am Jul 2, 2008 9:41am
[quote=Shermenator;2087935]
Quoting Hensby

Taking breack of high and low can catch you at tops or bottoms same thing if you wait for the 61.8 to breack. You need to give importance swings more importance then other. Last night we had a bearish swing breack onme and was telling me my short was not so hot. I decided to play to the bigger swing....and also looked for swing extension so I knew the places would run out of voulme and have the most sellers back...

In the fallowing posts I will put some swing stuff trying to explain a bitt.
That would be good. Can you show me also what you meant by the bearish swing break you had last night. When you say last night, does that mean Tuesdays trading. I am in Australia so our trading is of a night here.
  • #4,255
  • Jul 2, 2008 9:49am Jul 2, 2008 9:49am
[quote=Hensby;2087971]
Quoting Shermenator

That would be good. Can you show me also what you meant by the bearish swing break you had last night. When you say last night, does that mean Tuesdays trading. I am in Australia so our trading is of a night here.

Yea bud last night I took my trade in to tokyo session...It was 1 hour after tokyo....

Ok here goes the first swing fibb i had in my head....remeber when i show my charts i show what fibb is more important to me but i do know the location of other fibbs....

Swing fibb 1 on this chart you can see the arrow is the candle i shorted on base on the fact price was rejeting the pivot and the market formed a nice bearish engulfing as time was going but it was to ealy to trade for my own likes...Then price those tweezer tops and thats when i decided to short at the close of that candle 3 pips below I do this to make sure momentum is still in that direction.....

Attached Image
  • #4,256
  • Jul 2, 2008 9:59am Jul 2, 2008 9:59am
Now That I am in a trade I whant to see how the market is doing more in the inside and thats when i move my swing fibb just to get more in formation from the market and know whens a good time to close my trade or if my odds of winning the trade are still good.......

Here i moved my swing fibb closer to price and whanted to see it hold....
And it did not held as resistance and it broke ....When price broke the high of this swing you could have closed your short and reenter if you felt the market could be good again this comes down do how much are you willing to risk for profit....Also i had alot of this telling me to short the market...on daily chart i had good amount of stuff and alot of things telling me to short on 4 hour and 1 hour it was like the market was screaming at me short me lol...Plus i came at a good price and the amount of pips it was against me was not much that made the risk to reward ratio good and probability keept me in the trade...

Attached Image
  • #4,257
  • Jul 2, 2008 10:00am Jul 2, 2008 10:00am
So where would your initial stop have been Sherm?
  • #4,258
  • Jul 2, 2008 10:06am Jul 2, 2008 10:06am
Quoting Hensby
So where would your initial stop have been Sherm?

I wait for a close on the other side of the 61.8 I will hold it thue the pierce....I will not let it get past the 100 or 0 level..


I will post another post on the swing fibb right now....this is going to be the thrid one...
  • #4,259
  • Jul 2, 2008 10:11am Jul 2, 2008 10:11am
[quote=Shermenator;2087988]
Quoting Hensby


Yea bud last night I took my trade in to tokyo session...It was 1 hour after tokyo....

Ok here goes the first swing fibb i had in my head....remeber when i show my charts i show what fibb is more important to me but i do know the location of other fibbs....

Swing fibb 1 on this chart you can see the arrow is the candle i shorted on base on the fact price was rejeting the pivot and the market formed a nice bearish engulfing as time was going but it was to ealy to trade for my own likes...Then price those tweezer tops and thats when i decided to short at the close of that candle 3 pips below I do this to make sure momentum is still in that direction.....

Attachment
dear friends:
i do not trade the asian session, just as bobokus told me, we focuse more on the intrday fib. you can find that there is bar closed out the intraday long fib before the bid down, why would you take a long there. so what is the reason you trade with theswing, not with the intraday first,.
regards
I need time ,I need money, I need more patience
  • #4,260
  • Jul 2, 2008 10:15am Jul 2, 2008 10:15am
Quoting Shermenator
Now That I am in a trade I whant to see how the market is doing more in the inside and thats when i move my swing fibb just to get more in formation from the market and know whens a good time to close my trade or if my odds of winning the trade are still good.......

Here i moved my swing fibb closer to price and whanted to see it hold....
And it did not held as resistance and it broke ....When price broke the high of this swing you could have closed your short and reenter if you felt the market could be good again this comes down do how much are you willing to risk for profit....Also i had alot of this telling me to short the market...on daily chart i had good amount of stuff and alot of things telling me to short on 4 hour and 1 hour it was like the market was screaming at me short me lol...Plus i came at a good price and the amount of pips it was against me was not much that made the risk to reward ratio good and probability keept me in the trade...

Attachment
when the swing high was broken, you close you order. you have a lose or brokeneven or small win. i just can not treat this kind of problem.
I need time ,I need money, I need more patience
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