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  • #201
  • Sep 4, 2008 8:21pm Sep 4, 2008 8:21pm
hi guys..i used FF for quite a time to read some news and comments on pairs until i found this thread. Suprisingly this fibo thing works like magic. So i registered as an FF member to tke part. hope u guys can share lots of knowledge here for forex newbie like me.
  • #202
  • Sep 4, 2008 11:44pm Sep 4, 2008 11:44pm
Hi,

I find only retracement, expansion, time tone, fan and arcs drawing tools on my MT4 trading software. Could somebody show or explain how to shoot the Fib Numbers like 144,233,377, etc. on the charts.

Many thanks.

Harry
  • #203
  • Sep 4, 2008 11:51pm Sep 4, 2008 11:51pm
Quoting Peikko
Could some one build an indicator to those fib zones 144, 233 etc.? I would really appreciate it.

Thanks Mouteki, really good stuff!
I'm sure someone is already possibly planing on doing so (any thoughts on this RR?). This would make looking at various currencies faster as we would just need to enter the originating price and then the identifier (indicator) would calculate and plot out the lines very quickly. That's if my understaing of how the acquiring of the target zones is correct...
  • #204
  • Sep 5, 2008 1:16am Sep 5, 2008 1:16am
Quoting Harry123
Hi,

I find only retracement, expansion, time tone, fan and arcs drawing tools on my MT4 trading software. Could somebody show or explain how to shoot the Fib Numbers like 144,233,377, etc. on the charts.

Many thanks.

Harry
but until that time you can do that...find the first point of your swing and then shoot the fibonacci on this point and make the second point 100 pips below-above that point...after that once you add that 144,233,377 etc levels you'll get these level on your chart..take a look at this
in the below example..we only care about the highest 1.6037 (trend is down) and then extract 100 pips youll get 1.5937...put this in the second value...
simple
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 129 KB
Click to Enlarge Name: 2.JPG Size: 135 KB
Click to Enlarge Name: 3.JPG Size: 125 KB
  • #205
  • Sep 5, 2008 2:26am Sep 5, 2008 2:26am
Quoting nomask
but until that time you can do that...find the first point of your swing and then shoot the fibonacci on this point and make the second point 100 pips below-above that point...after that once you add that 144,233,377 etc levels you'll get these level on your chart..take a look at this
in the below example..we only care about the highest 1.6037 (trend is down) and then extract 100 pips youll get 1.5937...put this in the second value...
simple
Thanks for the response but I don't have that Fibo indicator. Could you please attached the indicator?

Thanks/Harry
  • #206
  • Sep 5, 2008 2:28am Sep 5, 2008 2:28am
Quoting Harry123
Thanks for the response but I don't have that Fibo indicator. Could you please attached the indicator?

Thanks/Harry
thats the basic fibo retracement tool that is already in your mt4 software..just customized
  • #207
  • Sep 5, 2008 2:39am Sep 5, 2008 2:39am
Quoting nomask
thats the basic fibo retracement tool that is already in your mt4 software..just customized
OK, I got it. Problem solved!

Thanks again.
  • #208
  • Sep 5, 2008 2:40am Sep 5, 2008 2:40am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting nomask
thats the basic fibo retracement tool that is already in your mt4 software..just customized
To get the zones to display from the reracement tool, do we just plug in the following: "1.44 %$, 2.33 %$, 3.77 %$, 6.10 %$, 9.87 %$, 15.97 %$"?

EDIT: Nope, I just tried what I typed above. What'd we need to input to get the zones?
"Wishful thinking dies hard." Igor T.
  • #209
  • Sep 5, 2008 3:17am Sep 5, 2008 3:17am
Quoting FxChi
To get the zones to display from the reracement tool, do we just plug in the following: "1.44 %$, 2.33 %$, 3.77 %$, 6.10 %$, 9.87 %$, 15.97 %$"?

EDIT: Nope, I just tried what I typed above. What'd we need to input to get the zones?
I typed in the following:

1 --- 100
1.44 --- 144
2.33 --- 233
3.77 --- 377
6.1 --- 610
10.87 ---1087

Don't type in the %$, then I get the attached picture. Not sure if this is correct.
Attached Image (click to enlarge)
Click to Enlarge Name: fibo test.gif Size: 22 KB
  • #210
  • Sep 5, 2008 3:20am Sep 5, 2008 3:20am
Another thing is that when you shoot it, the Fib lines go the opposite direction from the drag of the mouse.

Harry
  • #211
  • Edited 6:19am Sep 5, 2008 3:42am | Edited 6:19am
Quoting FxChi
To get the zones to display from the reracement tool, do we just plug in the following: "1.44 %$, 2.33 %$, 3.77 %$, 6.10 %$, 9.87 %$, 15.97 %$"?

EDIT: Nope, I just tried what I typed above. What'd we need to input to get the zones?

To plot the lines individually, take the low or high price of a retracement on a currency of your choice, then subtract/add to that price by one of the following Fibonacci numbers (0, 144, 233, 377, 610, 987, 1597, 2584, etc...) to get your Target Zones.

Example:

Eur All Time High Price Is Around 1.6035 (depends on your broker).

Now to get a Target Zone from that you would subtract from it by using one of the Fibonacci numbers (0, 144, 233, 377, 610, 987, 1597, 2584, etc...).

16035 - 233 = 15802

So your 233 Fib Target Zone = 1.5802.

Do the same with the rest of the numbers, subtract in a down movement and add in an up movement. That's how I understood it...
  • #212
  • Sep 5, 2008 3:52am Sep 5, 2008 3:52am
Greetings fx friends,

I have just uploaded the new video Forex Truth 3

You can check it out on my blog: http://www.forexgemini.com

Remember, all videos can be found only on my blog...

As always...Happy Trading,

-Mouteki

P.S.
Don't forget to leave questions on my blog here: http://www.forexgemini.com/?p=64

I will be taking questions from here and incorporating them into my daily video...
  • #213
  • Sep 5, 2008 4:33am Sep 5, 2008 4:33am
hi everyone ... take a look at Eur/gbp ... maybe we have a Zero Start Point on weekly chart.
This week weekly bar looks like a bearish signal to me.
If next week weekly bar is not going to take out the high but the low then i'll be a little more bearishwith an eye on the macd divergence ...
Right now I know that i'm 50% right !
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 16 KB
  • #214
  • Sep 5, 2008 5:42am Sep 5, 2008 5:42am
Hi Mouteki,

thanks for all your effort trying to reveal what you have learned.

After following your first blog and actually receiving the signal mails from your fake doppelgänger I already pretty much forgot about you and therefore I was even more suprised when I saw you opening a thread again.
Also, I really appreciate this way of showing videos, it really is worth a thousand words

Although I am somewhat sceptical (which is OK because you haven't finished your video series yet) I am closely following the blog and this thread. With "sceptical" I really don't mean anything bad, really. I am just wondering if this method can help _me_ in enhancing my trading.

The thing I have to say is: Couldn't you be using MT4's function of changing the scale of the chart? Often in the video I really liked to see a little more, e.g. the next fibonacci zone or sth. which is hidden and only show when you move on and the market makes lower lows or sth. So changing the scale would really help. I don't know if you ever tried it...

That's how it's done:
move the cursor to the price axis on the right of your chart and drag it down from there.

Well..I guess you already know that but I think you could use it sometimes in the video messages just to show us where the next fibo zones or extensions are without revealing the future price movement.

Keep it up, Mouteki.
  • #215
  • Sep 5, 2008 5:51am Sep 5, 2008 5:51am
are those fib zones drawned correctlly?
Attached Image (click to enlarge)
Click to Enlarge Name: 44.gif Size: 48 KB
  • #216
  • Sep 5, 2008 5:58am Sep 5, 2008 5:58am
Quoting Barak's pip
are those fib zones drawned correctlly?
Sorry, I dont understand your levels. It's supposed to be 144, 233, 377, 610, 987 etc.
  • #217
  • Sep 5, 2008 6:15am Sep 5, 2008 6:15am
Quoting Peikko
Sorry, I dont understand your levels. It's supposed to be 144, 233, 377, 610, 987 etc.
hi ,

can you explain me those no. , I understood from Mouteki video that he takes the all times high\low , than he looks for the next level that price stoped , and from those 2 no. he creates the sequence...

I know that the fib sequence is : 0,1,1,2,3,5,8,13,21....etc. I never reached to 144 ,233,377, 610..

I'll appreciate it if you can explain it to me .
Barak.
  • #218
  • Sep 5, 2008 6:23am Sep 5, 2008 6:23am
Quoting Harry123
I typed in the following:

1 --- 100
1.44 --- 144
2.33 --- 233
3.77 --- 377
6.1 --- 610
10.87 ---1087

Don't type in the %$, then I get the attached picture. Not sure if this is correct.
I don't think this is going to give you the proper fib zones. By putting in, for example, 1.44 into the fib retracement tool, what it is going to draw is a line that is 144% of the distance you shoot with the tool. It is not going to give you the point that is 144 pips from your starting point. Putting in 2.33 doesn't give a line 233 pips from the starting point. It puts a line 233% of the distance you define with the retracement tool. Remember -- whatever numbers you put in as a level in that fib retracement tool is a *percentage* of whatever distance you mark with the tool.

Right now, as I can figure out, there is no indicator, until someone creates a special one, to mark levels that are 144 pips, 233 pips, 377 pips, 610 pips away from the starting point. It isn't any big deal, though. All you need to know is your starting point and then you just use a calculator to add however many pips you want and then use the horizontal line tool to place a horizontal line on your chart at that level.

That's all Mouteki does, I believe...
  • #219
  • Edited 6:39am Sep 5, 2008 6:28am | Edited 6:39am
Quoting Tommy_C
I don't think this is going to give you the proper fib zones. By putting in, for example, 1.44 into the fib retracement tool, what it is going to draw is a line that is 144% of the distance you shoot with the tool. It is not going to give you the point that is 144 pips from your starting point. Putting in 2.33 doesn't give a line 233 pips from the starting point. It puts a line 233% of the distance you define with the retracement tool. Remember -- whatever numbers you put in as a level in that fib retracement tool is a *percentage* of whatever distance you mark with the tool.

Right now, as I can figure out, there is no indicator, until someone creates a special one, to mark levels that are 144 pips, 233 pips, 377 pips, 610 pips away from the starting point. It isn't any big deal, though. All you need to know is your starting point and then you just use a calculator to add however many pips you want and then use the horizontal line tool to place a horizontal line on your chart at that level.

That's all Mouteki does, I believe...
You are on the right track. Just set one of the paramaters to the highest high in the Fib tool, and then set the second paramater to 100 pips less.

So if EU was 1.6035

1st paramater is 1.6035
2nd paramater is 1.5935

Then all the other added fibs will line up properly.
1.44 = 144 pips 2.33 = 233 pips and so on.
Attached Image (click to enlarge)
Click to Enlarge Name: mouteki eu.gif Size: 15 KB
Attached File(s)
File Type: tpl mouteki.tpl   2 KB | 654 downloads
  • #220
  • Edited 6:32am Sep 5, 2008 6:30am | Edited 6:32am
Quoting Barak's pip
hi ,

can you explain me those no. , I understood from Mouteki video that he takes the all times high\low , than he looks for the next level that price stoped , and from those 2 no. he creates the sequence...

I know that the fib sequence is : 0,1,1,2,3,5,8,13,21....etc. I never reached to 144 ,233,377, 610..

I'll appreciate it if you can explain it to me .
Barak.
Hi,

I've understood that it dont have to be all time highs or lows. You just use a big time frame to spot a trend reversal and start using that starting point as a reference. The main point about the starting point is that it respects the fib zones and fib retracements. I believe that Mouteki uses 610 pip move minimum to spot trend reversals. Smaller numbers gives too many false signals. After that he goes to the lower time frames to find fib ret. and makes fib exp. to get the confirmation for the goals.

Hope this helps, still trying to learn my self!

Edit: ok, now i know what you meant with your numbers, those were prices, not fibs. Sorry!
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