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New Mouteki Method...

  • #241
  • Sep 5, 2008 10:58am Sep 5, 2008 10:58am
  •  itguy
  • | Joined Sep 2006 | Status: 110..220....Whatever it takes | 39 Posts
Everyone-
I coded a quick levels indicator with some options for display. I'm still adding things to it but it works as is. You have to tell it in the inputs whether you are in an up or down trend, but I'll automate that.

You can move the base line and on the next tick all the levels will readjust.

I'll post the mq4 when I get back home but here is the compiled version. Put in experts/indicators folder in your metatrader install directory.
Attached File(s)
File Type: ex4 Fib Levels.ex4   13 KB | 708 downloads
  • #242
  • Sep 5, 2008 11:03am Sep 5, 2008 11:03am
Quoting itguy
Everyone-
I coded a quick levels indicator with some options for display. I'm still adding things to it but it works as is. You have to tell it in the inputs whether you are in an up or down trend, but I'll automate that.

You can move the base line and on the next tick all the levels will readjust.

I'll post the mq4 when I get back home but here is the compiled version. Put in experts/indicators folder in your metatrader install directory.
Thanks! This is exactly what is was hoping for. Maybe you could add few more levels to this, please
  • #243
  • Sep 5, 2008 11:09am Sep 5, 2008 11:09am
Quoting itguy
Everyone-
I coded a quick levels indicator with some options for display. I'm still adding things to it but it works as is. You have to tell it in the inputs whether you are in an up or down trend, but I'll automate that.

You can move the base line and on the next tick all the levels will readjust.

I'll post the mq4 when I get back home but here is the compiled version. Put in experts/indicators folder in your metatrader install directory.
Great, merge nicely with the lines I drawn.
Attached Image (click to enlarge)
Click to Enlarge Name: eur chf fib.gif Size: 14 KB
  • #244
  • Sep 5, 2008 11:13am Sep 5, 2008 11:13am
I have a question. when placing the fib retracements.. what end of the move does the 0.00 fib line go on. lets say the move is from .100 and goes up to .225, where does the 0.00 fib line go.? Thank you..
  • #245
  • Edited 11:49am Sep 5, 2008 11:26am | Edited 11:49am
Quoting itguy
Everyone-
I coded a quick levels indicator with some options for display. I'm still adding things to it but it works as is. You have to tell it in the inputs whether you are in an up or down trend, but I'll automate that.

You can move the base line and on the next tick all the levels will readjust.

I'll post the mq4 when I get back home but here is the compiled version. Put in experts/indicators folder in your metatrader install directory.
Thanks ItGuy nicely done, perhaps you can also add the 6765 level to your "Mouteki Fib TargetZone Levels" indicator...
  • #246
  • Sep 5, 2008 11:51am Sep 5, 2008 11:51am
Quoting PTOURNIS
Thanks for the analysis. I was having a difficult time because I was looking at the daily.
Not a problem. It was good for me to start trying to analyze this stuff myself. And, you're right, looking at the Daily chart for the GBP/JPY would be a little confusing as it has mostly been straight down with no retracements lately.
  • #247
  • Sep 5, 2008 12:38pm Sep 5, 2008 12:38pm
Mouteki,

You are simply great. No one in this world knew about the Fib zones, and you introduced it freely for the benefit of others. That is outstanding.

I am eagerly waiting for further parts of your trading tips.

May god help you for this great contribution.

Please keep it up.

thax


Quoting moutekitrader
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...
  • #248
  • Sep 5, 2008 1:15pm Sep 5, 2008 1:15pm
Thank You so much for this amazing thread......so appreciated.
  • #249
  • Sep 5, 2008 1:20pm Sep 5, 2008 1:20pm
Hey everyone,

I've really been captivated by what Mouteki has shown us so far. I have always loved using fibonacci retracements and expansions, but these fibonacci zones have added a new dimension.

I know he hasn't told us everything yet, but I thought I'd lay out this analysis for y'all to see what you think.

I have attached two charts for the GBP/USD. The first is the 1 hour chart. As you can see, it looks like we may have the beginnings of a up move. There has been one move up followed by a retracement (blue) that respected the 61.8% level. The next up move took out the 144 fib zone, as well as the 61.8 and 100 fib expansions (magenta) from the first retracement. That second move up has retraced (lime green) to the 61.8% level, and is currently sitting at the 50% of the second retracement and the 0% of the first. Now, if price will respect these fib retracement levels and start to go up again, then the next set of fib expansions show quite a confluence: the 161.8 expansion of the first retracement is at the same level as the 61.8% expansion of the second retracement, and that is also the 233 fib zone of this embryonic up move. I would assume that, if we get the 233 fib taken out, then price might continue even higher.

How high might it go? Well, I attached a weekly chart, too. As you can see, the GBP/USD has gone straight down for the past seven weeks, without any kind of a retracement. The market is going to have to breathe at some point, and it will, undoubtedly, retrace to a fib number of some kind. If we just look at the last seven weeks and take a fib retracement of that move (red orange on the chart) we can see that the 38.2% retracement of the last move down matches up almost exactly with the 987 fib level of this potential upmove! Moreover, if you look at the fib levels of the long term down move that started in November of 2007, the 2584 fib level (the heavy black horizontal line) is just 30 pips away from the 987 fib of the upmove and the 38.2% retracement of the last seven weeks.

Is this any kind of guarantee that the market will move that far? No, of course not. But, when fib levels start to overlap at certain key spots, the likelihood is much, much greater.

As always, any comments or thoughts are appreciated...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd h1.gif Size: 32 KB
Click to Enlarge Name: gbpusd w1.gif Size: 30 KB
  • #250
  • Sep 5, 2008 3:12pm Sep 5, 2008 3:12pm
I just wanted to say keep up the good work!
  • #251
  • Sep 5, 2008 4:48pm Sep 5, 2008 4:48pm
Hi Mouteki !

With a little knowledge whats going on behind the curtain I only
could say : OUTSTANDING !!!!!!

I don't know where you get this from but you are on the right path...

Greetings

Bernhard
  • #252
  • Sep 5, 2008 5:04pm Sep 5, 2008 5:04pm
Ok this is my first try of doing this kind of things. The pair is EUR/PLN and it recently had it's all time low. I found nice respect of 38.2% retracement level and visible support and resistance on fib zones. For me it looks that starting from Monday it's going to "breathe" at least to 1597 line (it would be exactly 38,2% from present top and 1000 pips move down) and then continue moving north.

I would like some of you (maybe Mouteki) comment my chart and agree oder disagree with me . I'll probably open a small trade according to my predictions.

----------------
Sorry for my bad english.
Attached Image (click to enlarge)
Click to Enlarge Name: EurPln fibs.JPG Size: 110 KB
  • #253
  • Sep 5, 2008 5:40pm Sep 5, 2008 5:40pm
yeah like ppl above i'd like to thank u Mouteki for sharing this...i think its great that u showed 3 examples with diff currencies. Some ppl might not even bother repeating the same things over. But thanks to the 3 videos i have a better understanding now. I will wait for ur daily videos....they will be one of the highlights of my days im sure

ps: sorry i double post the same question on the blog. i was having connection problems.

thanks again.
  • #254
  • Sep 5, 2008 6:51pm Sep 5, 2008 6:51pm
Quoting kill_the_dj
And when do we learn something ?

Sorry for my impatience but ...
I see that you have "fibo trader" in your title, well for those of us that don't use fibs in our trading then we have learnt something. You need some respect that other people don't have the same knoweldge as you. All good learning comes from sound building blocks...
  • #255
  • Sep 5, 2008 7:32pm Sep 5, 2008 7:32pm
Quoting Tommy_C
Hey everyone,

I've really been captivated by what Mouteki has shown us so far. I have always loved using fibonacci retracements and expansions, but these fibonacci zones have added a new dimension.

I know he hasn't told us everything yet, but I thought I'd lay out this analysis for y'all to see what you think.

I have attached two charts for the GBP/USD. The first is the 1 hour chart. As you can see, it looks like we may have the beginnings of a up move. There has been one move up followed by a retracement (blue) that respected the 61.8% level. The next up move took out the 144 fib zone, as well as the 61.8 and 100 fib expansions (magenta) from the first retracement. That second move up has retraced (lime green) to the 61.8% level, and is currently sitting at the 50% of the second retracement and the 0% of the first. Now, if price will respect these fib retracement levels and start to go up again, then the next set of fib expansions show quite a confluence: the 161.8 expansion of the first retracement is at the same level as the 61.8% expansion of the second retracement, and that is also the 233 fib zone of this embryonic up move. I would assume that, if we get the 233 fib taken out, then price might continue even higher.

How high might it go? Well, I attached a weekly chart, too. As you can see, the GBP/USD has gone straight down for the past seven weeks, without any kind of a retracement. The market is going to have to breathe at some point, and it will, undoubtedly, retrace to a fib number of some kind. If we just look at the last seven weeks and take a fib retracement of that move (red orange on the chart) we can see that the 38.2% retracement of the last move down matches up almost exactly with the 987 fib level of this potential upmove! Moreover, if you look at the fib levels of the long term down move that started in November of 2007, the 2584 fib level (the heavy black horizontal line) is just 30 pips away from the 987 fib of the upmove and the 38.2% retracement of the last seven weeks.

Is this any kind of guarantee that the market will move that far? No, of course not. But, when fib levels start to overlap at certain key spots, the likelihood is much, much greater.

As always, any comments or thoughts are appreciated...
Hi Tommy,

This is a very good analysis and it seems like it's right on the money. The question I have is we're still technically in a downtrend and if you continue to pull your fibs from the top of the move to the bottom you'll see we;ve retraced to the 61.8 fib. So I guess this is where alot of confusion with what has been shared so far will come in..and that's when and from what point do we start to pull fibs from. In this case, since it's a down moveand it hasn't broken to the up side yet why would you start pulling fibs to the up side? With that said, we've had a huge down side move and at some point soon you would expect to see a large retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp fibs t23.gif Size: 21 KB
  • #256
  • Sep 5, 2008 7:46pm Sep 5, 2008 7:46pm
if theres a downward movement, where is the 0.00 fib, at the lowest price or the price that the downward movement started?
  • #257
  • Sep 5, 2008 7:53pm Sep 5, 2008 7:53pm
Quoting ozziedave
Hi Tommy,

This is a very good analysis and it seems like it's right on the money. The question I have is we're still technically in a downtrend and if you continue to pull your fibs from the top of the move to the bottom you'll see we;ve retraced to the 61.8 fib. So I guess this is where alot of confusion with what has been shared so far will come in..and that's when and from what point do we start to pull fibs from. In this case, since it's a down moveand it hasn't broken to the up side yet why would you start pulling fibs to the up side? With that said, we've had a huge down side move and at some point soon you would expect to see a large retracement.
Yes I concur, we are still in a downtrend as the Intraday Fib (Bobokus teachings) towards the down side is still being respected. Once we see the bearish Intraday Fib getting killed and Swing Fib (Support) being respected we will know its a possible good reversal/retracement move...
  • #258
  • Sep 5, 2008 8:22pm Sep 5, 2008 8:22pm
Quoting moutekitrader
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...
Dear mouteki trader,
Thanks so much for all education learn from you in 6 days it's great
but i think if we take live example from market now and use these fundamental
to see what hapen in next days and learn more and more
Let us take eur/usd or usd/chf or any pair and go step by step

best regards
  • #259
  • Sep 5, 2008 9:16pm Sep 5, 2008 9:16pm
I just listened to the gbp video analysis and Mouteti talks about the currency pair respecting the fib zones. So below is a weekly chart of the AUD and if I understand Mouteki correctly we would not be interested in this pair since it is showing no respect for the zones. I say this based on the fact that when the pair hits a zone there has been no retracement back to the previous zone. Would everyone agree with that analysis?
Attached Image (click to enlarge)
Click to Enlarge Name: aud example t24.gif Size: 22 KB
  • #260
  • Sep 5, 2008 9:25pm Sep 5, 2008 9:25pm
I agree totally with you on this pair. Will have to retrace at some point and then we might take a look.
txtaz
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