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  • #5,001
  • Edited 10:38am Aug 12, 2008 2:49am | Edited 10:38am
I found the answer to my question about the Intraday fib.

Quoting Bobokus
Judgement call on my part, similar to not every Intraday will be within the confines of a 24 hour period, some days will include candles from the previous day or day after. I didnt want to exclude the previous high this time. Even if you were only measuring from the high and low of yesterday it doesnt make much difference on your target, 10 pips maybe. If the previous high would have been much hiigher than it was I probobly would not have used it, since there was some retracement early that trading day.

Hey-ho. So much for trying to take the lazy option. I have to draw it by hand.

  • #5,002
  • Aug 12, 2008 3:02am Aug 12, 2008 3:02am
I am new here but i have been reading thru for a while now ...But took this long trade and i am 50+
Attached Image (click to enlarge)
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  • #5,003
  • Aug 12, 2008 6:04am Aug 12, 2008 6:04am
Sold 9077 and 9070, closed at 8987 and 8981 respectively, 179 pips. The night before last was similar.

Also, I went back and watched the videos again, will do once a week now for at least a month. New stuff there since I saw them the first time, lol.

Also, saw a post earlier re not reading the whole thread, but just keeping up.

In my opinion this is a mistake. Yes, there is duplication but, still, I don't think this works as well with "cliff notes".

Live account has doubled in just a few weeks using this system. Thanks all.
  • #5,004
  • Aug 12, 2008 8:32am Aug 12, 2008 8:32am
Bo has given a wealth of info and so many people actually start asking questions that are answered throughout the thread, myself included.
I'm up to page 260 and every question I started asking a couple weeks ago has been answered in previous pages.

I've been using the addfibolines script but changed the names and colors to suit me. But I still manually pick the points to place them.

Happy Pippin' all
KC

Thank you so much Bo!

Quoting SteveHopwood
I found the answer to my question about the Intraday fib.




Hey-ho. So much for trying to take the lazy option.

  • #5,005
  • Edited 9:27am Aug 12, 2008 9:16am | Edited 9:27am
I am getting ready for a short on GU and EU, I have already taken short on GY, just waiting for levels to break, and it should bank in a considerable amount of pips because the down on US pairs still seems to have a lot of momentum.

If this helps anyone I guess I will post it, but if it is incorrect someone please correct it.

TheLegace.
Attached Image (click to enlarge)
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"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,006
  • Aug 12, 2008 9:27am Aug 12, 2008 9:27am
I've been following this thread for a of couple weeks now. Thank you very much, it has helped me a lot. Still learning everyday. I hope we can get the chat room going.

Regards,

Alex
  • #5,007
  • Aug 12, 2008 9:48am Aug 12, 2008 9:48am
hi all
i am new in this system and i put my fibo in chart i hope that if am wrong anybody tell me?
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  • #5,008
  • Aug 12, 2008 10:00am Aug 12, 2008 10:00am
Quoting TheLegace
I am getting ready for a short on GU and EU, I have already taken short on GY, just waiting for levels to break, and it should bank in a considerable amount of pips because the down on US pairs still seems to have a lot of momentum.

If this helps anyone I guess I will post it, but if it is incorrect someone please correct it.

TheLegace.
\

Hey Legace,

Just to see if we're thinking alike, you're waiting the pair breaks the level 1.9004 to get in?

thanks a lot
  • #5,009
  • Aug 12, 2008 10:14am Aug 12, 2008 10:14am
I got into GU, but still testing my enterances. I think entering is still a bit premature, but I am working on it, just closed by GY @ 55 pips, I am pretty happy with that.

Just enter short on GU and will short on EU pretty soon, once body candle has clearly broken short level.

Unfortunately I think I entered a bit premature.

I think best option for enterance might be after price breaks it will react, and then is a best time to enter. I am going to enter again to practise at entering in the best time.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,010
  • Edited 10:32am Aug 12, 2008 10:19am | Edited 10:32am
Quoting TheLegace
I am getting ready for a short on GU and EU, I have already taken short on GY, just waiting for levels to break, and it should bank in a considerable amount of pips because the down on US pairs still seems to have a lot of momentum.

If this helps anyone I guess I will post it, but if it is incorrect someone please correct it.

TheLegace.
The Legace,
I followed what you said.. and made some pips thank you again!
Let me ask you something...

I have a Intraday fibo like yours (green) and two others swings fibo,
one from the high of today (1.9120) to the bottom (1.8967) and
another just like yours (black).

Did you start the day with your swing fibo from the top to the bottom of day
and then moved it to where it's right now? If yes, why / when did you decide
to move it?
thanks!
  • #5,011
  • Aug 12, 2008 10:35am Aug 12, 2008 10:35am
Quoting kc8flq
Bo has given a wealth of info and so many people actually start asking questions that are answered throughout the thread, myself included.
I'm up to page 260 and every question I started asking a couple weeks ago has been answered in previous pages.

Hehe. When I found the answer to my question about the Intraday fib, boy was I embarassed.

Not because I realised I had read it several times already.

Not because it is blindingly obvious anyway.

I have been taking notes as I go. When I found the answer to my question I went straight to the notes to add the nugget of information. Guess what I found?

Yep. The answer was already in my notes. Fat lot of good they are if I don't read them occasionally.

Attached is a setup for an EU short I have just taken. I was late into the move because I had to go out, but my trading plan said, "Go short on the rejection by the Intraday short" so I took it. I am probably not all that late into the trade, as I would not have taken it until the opening of the last candle in the chart.

It is a live trade with nano-lot sizes, so I get punished for doing something stupi, but badly injured. I find this a more successful way of learning than demo-trading, but that is just me.

Attached Image (click to enlarge)
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  • #5,012
  • Aug 12, 2008 10:57am Aug 12, 2008 10:57am
I took the short too and I am wondering why I took the trade off the swing fib instead of the intraday. The intraday price rejected the low three times before continuing on it's way down. Could have had a few more pips but this swing trade does look pretty good. What do you guys think? Also notice the divergence indicating sell.
Mike
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  • #5,013
  • Aug 12, 2008 10:59am Aug 12, 2008 10:59am
Quoting SteveHopwood
Hehe. When I found the answer to my question about the Intraday fib, boy was I embarassed.

Not because I realised I had read it several times already.

Not because it is blindingly obvious anyway.

I have been taking notes as I go. When I found the answer to my question I went straight to the notes to add the nugget of information. Guess what I found?

Yep. The answer was already in my notes. Fat lot of good they are if I don't read them occasionally.

Attached is a setup for an EU short I have just taken. I was late into the move because I had to go out, but my trading plan said, "Go short on the rejection by the Intraday short" so I took it. I am probably not all that late into the trade, as I would not have taken it until the opening of the last candle in the chart.

It is a live trade with nano-lot sizes, so I get punished for doing something stupi, but badly injured. I find this a more successful way of learning than demo-trading, but that is just me.

Thats my setup too, but price is kinda iffy right now, so I am going to hold on until some lower time frame resistance levels have held.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,014
  • Aug 12, 2008 11:36am Aug 12, 2008 11:36am
Quoting psneto
The Legace,
I followed what you said.. and made some pips thank you again!
Let me ask you something...

I have a Intraday fibo like yours (green) and two others swings fibo,
one from the high of today (1.9120) to the bottom (1.8967) and
another just like yours (black).

Did you start the day with your swing fibo from the top to the bottom of day
and then moved it to where it's right now? If yes, why / when did you decide
to move it?
thanks!
It's usually not specific to any day My Intraday fibs haven't actually been updated yet, I was just waiting for a bottom to occur today, and thats where I am drawing my new intraday fibs. My high is 1.9254 and low is 1.8967. Those are my updated fibs, I just forgot to update em. It usually occurs after a big swing up that happened yesterday, thats where the high of the fib is gonna be, and then low where the bottom occured today. Ontop of that I have wider frame fibs aswell.

TheLegace
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,015
  • Aug 12, 2008 11:41am Aug 12, 2008 11:41am
I have finally made a short on EU, and my GU shorts are finally starting to make some movement. Good luck with this trade.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,016
  • Aug 12, 2008 12:46pm Aug 12, 2008 12:46pm
Look at the way the market has bounced between my UPtrend Pivot and my Intraday Low, all day.

If only I had got in on some of the rejections and bounces.

Ah well. My excuse is that I could not be at the console all day. I am not sure I would have had the courage even if I had been sat here all day.

If the market carries on like this tomorrow, I shall be in like a Tiger.

Mewling pussycat, more likely.

Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
  • #5,017
  • Aug 12, 2008 12:58pm Aug 12, 2008 12:58pm
Quoting TheLegace
It's usually not specific to any day My Intraday fibs haven't actually been updated yet, I was just waiting for a bottom to occur today, and thats where I am drawing my new intraday fibs. My high is 1.9254 and low is 1.8967. Those are my updated fibs, I just forgot to update em. It usually occurs after a big swing up that happened yesterday, thats where the high of the fib is gonna be, and then low where the bottom occured today. Ontop of that I have wider frame fibs aswell.

TheLegace
Right.. Your intraday fibo matches with mine, but I put another swing trade between the top and bottom of today (1.9120 and 1.8997) that I was using to see if the fibo levels would be a resistence so I would get in the market, since the GU was up in the morning, but it started to fall again, so
I plotted a new swing fibo like yours ( black one) but then I got
confused about which one to use as my reference to get in.

thanks

So
  • #5,018
  • Aug 12, 2008 1:20pm Aug 12, 2008 1:20pm
Quoting psneto
Right.. Your intraday fibo matches with mine, but I put another swing trade between the top and bottom of today (1.9120 and 1.8997) that I was using to see if the fibo levels would be a resistence so I would get in the market, since the GU was up in the morning, but it started to fall again, so
I plotted a new swing fibo like yours ( black one) but then I got
confused about which one to use as my reference to get in.

thanks

So

You use the Swing fibs to tell you when to enter, the intraday fibs are used to tell you your bias, if price is going to be short on intraday, then with reference to swing fib trades you make you will most likely take shorts only. If you are going to take a long you take with caution and usually a scalp.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,019
  • Aug 12, 2008 2:11pm Aug 12, 2008 2:11pm
I watched your videos and it said something about you teaching this how do I get that help?
  • #5,020
  • Aug 12, 2008 2:58pm Aug 12, 2008 2:58pm
Well my short on GU is profiting now, even though it was in loss just a while ago. Learned a couple things today.

Be Very cautious around prices like this. The GU is at a point where there is incredible support, if you look at Daily Timeframe and plot a fib on the uptrend just before the price fell like crazy it shows a very strong support level, as well looking at the weekly chart the price is at a point that is extremely strong support, that was their since Nov 06 or something, so even though it looks like price is breaking the support really needed to be hammered and still does.

My EU trade is down about 30 pips, but I think it might break support levels.

My EJ trade is also up about 30 pips.

TheLegace
"If voting changed anything, they'd make it illegal" - Emma Goldman
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