New Mouteki Method...

Quoting Tommy_C

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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...

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Quoting Barak's pip

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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.

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Quoting Barak's pip

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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.

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Quoting Peikko

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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!

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Quoting kill_the_dj

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It going to give you the proper fib zones you want, you only have to make 100 pips from 0% to 100% ...

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Quoting Tommy_C

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Well, yes, that's true. If you use it ONLY that way, it will give you the appropriate zones. But, if you watch Mouteki, you'll see that you need the retracement tool all the time to shoot new retracements. If you have those levels in there, every new time you shoot a retracement, it's going to put new 144, 233, 377, etc levels on your chart. Only now, since the distance you shoot won't be an exact 100 pips, your new levels will be in the wrong place. In any given decent move, you might shoot as many as 3 to 4 different retracements. That means, with those settings, that you have 3 to 4 different 144, 233, 377, 610 levels, and ALL of them will be incorrect.

Or, you could say that it's the beginning of a new move, I'll put all of those levels in the retracement tool, shoot a 100 pip distance to get the levels, and then remove all of those levels so that the retracement tool functions correctly again. But what if you're following multiple currency pairs that start their moves at different times, and need you to shoot new retracement levels at different times? To make sure you aren't putting in incorrect 144, 233, 377, and 610 levels you're going to be reprogramming your retracement tool every time you turn around.

It is so much simpler, in the long run, to just use a calculator, figure the levels by hand, and put horizontal lines in...

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Quoting Tommy_C

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Well, yes, that's true. If you use it ONLY that way, it will give you the appropriate zones. But, if you watch Mouteki, you'll see that you need the retracement tool all the time to shoot new retracements. If you have those levels in there, every new time you shoot a retracement, it's going to put new 144, 233, 377, etc levels on your chart. Only now, since the distance you shoot won't be an exact 100 pips, your new levels will be in the wrong place. In any given decent move, you might shoot as many as 3 to 4 different retracements. That means, with those settings, that you have 3 to 4 different 144, 233, 377, 610 levels, and ALL of them will be incorrect.

Or, you could say that it's the beginning of a new move, I'll put all of those levels in the retracement tool, shoot a 100 pip distance to get the levels, and then remove all of those levels so that the retracement tool functions correctly again. But what if you're following multiple currency pairs that start their moves at different times, and need you to shoot new retracement levels at different times? To make sure you aren't putting in incorrect 144, 233, 377, and 610 levels you're going to be reprogramming your retracement tool every time you turn around.

It is so much simpler, in the long run, to just use a calculator, figure the levels by hand, and put horizontal lines in...

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Quoting smjones

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Not really, You just set the tool up taht way to draw the zones, then reset the defaults for the future fib drawing. Note, that if you select any object, like a line or a fib or a box and then just look at the pramater and the close the edit box, even without changing anything, the next time you go to use that type of object, it will be set to the last object you looked at. So, you can just go back and select a Zone fib from before and all the correct fibs will be wating.

Edit: On further thought either way works just about as easy. Drawing the horizontal line may be simpler.

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Quoting PTOURNIS

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Can someone analyze the recent movement by Gbp/Jpy?

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Quoting Tommy_C

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Well, I'll give it a shot...

The recent moves on the GBP/JPY have been so huge, it's only really effective to use the weekly chart, which I've attached.

As you can see, the high of 251.07 was made last summer. Since then, it has fallen like a stone. It fell right through the 610 and the 987. After the 987, it retraced a little, but then fell all the way through the 1597 and 2584. Then we had a decent retracement all the way to 987 level. Shooting a fib expansion from that move predicted that it would move through the 4181 and probably all the way to the 6765 which is so far down it's off the chart. The 6765 is at 183.42 and the 161.8 expansion from the first retracement is at 184.22.

Now, the slightly scary thing is that, after moving through the 4181 level, there was another significant retracement. After shooting the fib retracement, you can see that it respected the 38.2 level. If it respects the retracement, it should respect the expansion. The 61.8 expansion is at 185.23, which is close to the 6765 level, as well as the 161.8 expansion from the first retracement. With that confluence of fib zones and fib expansions, it seems likely that price will, at least, go to that level.

The 100 and 161.8 expansions of the second retracement are so far down it seems nearly impossible. the 100 expansion of the second retracement is at 162.79, and the 10946 fib zone is at 141.61.

Will it actually get that far? It's anyone's guess at this point. That would be nearly 11000 pips. Still, it does seem safe to say that it will probably go down to the 6765 level at 183.42. That would be my next target.

Edit: Oh, I do want to say that, after reaching the 6765 level, it would probably retrace back up, maybe to the 4181 level, before continuing to head back down...

Any thoughts or comments would be appreciated...

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Quoting Peikko

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Thanks for the analyze. I have exactly the same levels on my chart. One question about the fib expansion tool. It seems that you havent adjust the tail to the exact retracement point. I do that. I dont know if that is right or is it right just to leave it as it is?

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Quoting Peikko

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What is your opinion about eurchf? It's bit difficult to measure from the all time high because several candels has closed above the 61.8. Even monthly candle has closed above that line. I have understood that trend is over when candle closes above 61.8. If that's true then the measurement should begin from the recent high?

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