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  • #4,261
  • Jul 2, 2008 10:18am Jul 2, 2008 10:18am
Ok once the trade was not looking so hot I moved my swing to the recent swing and keep in mind as willing to hold my short as loing as the counter fibb to intraday did not break...though i was moving my swing fibb to get information from the market and know when price could pick up speed again...

Now lets say you got stopped out when the first swing broke on my previous post you could have reenter when this swing 0 broke it was a confirmation price was reacting to the larger 61.8 fibb from the counter fibb to the intraday fibb...(First arrow would have been the place you would have been stopped out...

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  • #4,262
  • Jul 2, 2008 10:18am Jul 2, 2008 10:18am
See i was looking at the 4 hr today too, but to me it appeared to be bouncing off the inner fibs, long. Thats the white fibs on the chart. Thats before that long down candle of course
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  • #4,263
  • Jul 2, 2008 10:21am Jul 2, 2008 10:21am
Quoting ztdep
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.

Look at the post above...and let me know if that explains it i held it....But worse case scenerion you could had reenter it....Its not about wins or losses its about how much money you put in the bank...Als keep in mind bad news was expected for the gbp/usd
  • #4,264
  • Jul 2, 2008 10:33am Jul 2, 2008 10:33am
Quoting Hensby
See i was looking at the 4 hr today too, but to me it appeared to be bouncing off the inner fibs, long. Thats the white fibs on the chart. Thats before that long down candle of course

That was the second support swing you should have moved your low the next higher low...Also you need to see what the market is showing you in the 1 hour chart...(keep in mind price had broken the intraday 61.8 levels...
  • #4,265
  • Jul 2, 2008 10:48am Jul 2, 2008 10:48am
Quoting Shermenator
That was the second support swing you should have moved your low the next higher low...Also you need to see what the market is showing you in the 1 hour chart...(keep in mind price had broken the intraday 61.8 levels...
Thanks a lot Shermenator for your help with those charts. Off to bed now, will be back again tomorrow for another day. Payrolls tomorrow but, not a good day to trade.
  • #4,266
  • Jul 2, 2008 1:35pm Jul 2, 2008 1:35pm
I'm interested in Fibonacci trading and saw this thread. All the videos describing the setup on post #1 are no longer available however. Is there an alternate location for these?
Thanks.
LeoM
  • #4,267
  • Jul 2, 2008 2:46pm Jul 2, 2008 2:46pm
Please would anyone directs me to a good broker.I want to trade with a fund in tune of five figures and i just couldn't trust those brokers from Cyprus and the likes.Please if u hav a broker in mind that will not give problem with there chart,please let me know. Thanks.
  • #4,268
  • Jul 2, 2008 2:54pm Jul 2, 2008 2:54pm
Quoting hiswords
Please would anyone directs me to a good broker.I want to trade with a fund in tune of five figures and i just couldn't trust those brokers from Cyprus and the likes.Please if u hav a broker in mind that will not give problem with there chart,please let me know. Thanks.

I use gft to place my live trades...they work very well.
  • #4,269
  • Edited 6:03pm Jul 2, 2008 5:59pm | Edited 6:03pm
My t1 was perfect, at 9854! But my SL was set at 9970 and it went up at 9974 so i got caught by a kiss, again.. So ok, where the heck should these SL be set at.... Daily High? Intraday 38.2 +10 pip, or maybe i should had use the swing 38.2 + 10??? or +10 + spread.. The heck, + 15!

Today the move looks bullish, I wait for an hourly candle to close above intraday long at 9923, and would put my stop 15 pips under the swing short at 9983. What do you think? Then only look at it on my way back from work tomorrow night.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,270
  • Jul 2, 2008 7:18pm Jul 2, 2008 7:18pm
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 break Bobokus, we try to keep the place tidy while your gone...
I will try not to bend the rules to much, and turn the thread into an indicator following madness...

Drop by whenever you feel, don`t let mrs Bo rules you!
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,271
  • Jul 2, 2008 7:26pm Jul 2, 2008 7:26pm
Quoting GreatYves
My t1 was perfect, at 9854! But my SL was set at 9970 and it went up at 9974 so i got caught by a kiss, again.. So ok, where the heck should these SL be set at.... Daily High? Intraday 38.2 +10 pip, or maybe i should had use the swing 38.2 + 10??? or +10 + spread.. The heck, + 15!

Today the move looks bullish, I wait for an hourly candle to close above intraday long at 9923, and would put my stop 15 pips under the swing short at 9983. What do you think? Then only look at it on my way back from work tomorrow night.

Yeah I know what you mean about stops. The big traders know where we small traders put our stops & they cut us out a lot. On your entry today what sherm said earlier I would probably agree with you. The hourly is in a wedge there though, so it may come down more into the intraday fibs yet. Payrolls today be careful.
  • #4,272
  • Jul 2, 2008 7:33pm Jul 2, 2008 7:33pm
This is how I have my intraday fibs today. Do others agree?
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  • #4,273
  • Jul 2, 2008 8:54pm Jul 2, 2008 8:54pm
Quoting Hensby
This is how I have my intraday fibs today. Do others agree?
THat right but know you are looking for longs since intraday broke...
  • #4,274
  • Jul 2, 2008 8:55pm Jul 2, 2008 8:55pm
And.... the hourly is making lower lows & lower highs. May be down today!
  • #4,275
  • Jul 2, 2008 9:25pm Jul 2, 2008 9:25pm
remeber nofarm comes out tomorrow...dollar is not doing good...market will slow down early
  • #4,276
  • Jul 2, 2008 9:26pm Jul 2, 2008 9:26pm
Also prices bounce of a 38.2 fibb from daily chart....I will analyze and place a chart later on
  • #4,277
  • Jul 2, 2008 10:27pm Jul 2, 2008 10:27pm
i've been looking at fibs on a 5min...no indicators or anything else.

Can fibs be traded successfully off just one time frame or do i need to

look at longer time frames to see trend?...(I've been looking at the 1hr for

trend)
  • #4,278
  • Jul 2, 2008 10:31pm Jul 2, 2008 10:31pm
It show no direction right now, But the daily chart is shouting a long with that bounce at 9844. I think it will stay flat there till the news is out. If 9844 doesn`t hold it will open the way to 9745.

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Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,279
  • Jul 2, 2008 11:03pm Jul 2, 2008 11:03pm
Quoting big_pipin
i've been looking at fibs on a 5min...no indicators or anything else.

Can fibs be traded successfully off just one time frame or do i need to

look at longer time frames to see trend?...(I've been looking at the 1hr for

trend)
The bigger the better. But hourlys is adequate for proper risk/reward vs spread, and proper analysis. The daily high and low (intraday) should be the one you based on for targets. Nothing under 1 hr would say Bobokus.

Good luck!
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,280
  • Jul 3, 2008 12:18am Jul 3, 2008 12:18am
Overall bullish....Price has bounce from a daily 38.2 fibb( green arrow represents the bounce of daily fibb)....Second price has broken downward channel....You can place a buy stop and sell stop on the spot the arrows are at..(yellow ones) I will be not be making a trade tonight simply for the reason of nonfarm and choppy market can happen...Not worth trading today.

As of right now is bullish....Looking Bullish

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