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New Mouteki Method...

  • #461
  • Sep 11, 2008 1:55am Sep 11, 2008 1:55am
That helped out a lot. I still can't the EurNzd. Any advice?
  • #462
  • Sep 11, 2008 2:03am Sep 11, 2008 2:03am
Quoting toafdawg
That helped out a lot. I still can't the EurNzd. Any advice?
I think this pair was added in a couple of weeks ago in IBFX.
Go to file -> new chart -> additional pairs. It is in the additional pairs window.

Cheers
  • #463
  • Sep 11, 2008 3:20am Sep 11, 2008 3:20am
does anyone else have this setup its retracing from 161 extension and the 987 fib zone i am expecting it to retrace to either 610 zone which is 38% retracement of the current move or the 377 zone and 61%retracement then going short looking on forex factory there is news for the nzd in red so it will be intresting to see what happens
Attached Image (click to enlarge)
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  • #464
  • Sep 11, 2008 3:49am Sep 11, 2008 3:49am
Quoting Hwd
Could someone please take a look at this chart for me and clarify that expansion point placement. By default it is at 50.0 level (even though on the attached chart I have specifically placed it at the 61.8 level, as that is the retracement point) but aren't u supposed to move it to the retracement point, which could be 38.2 or 61.8?
Mouteki never adjust his expansion point no matter what the retracement went too. So 50% is where the expansion point "C" should be.
  • #465
  • Sep 11, 2008 4:05am Sep 11, 2008 4:05am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Was wondering when initially checking a chart for fib respect in the market - which of the 2 takes priority - the fib zones or the retracements?
"Wishful thinking dies hard." Igor T.
  • #466
  • Sep 11, 2008 4:17am Sep 11, 2008 4:17am
Quoting FxChi
Was wondering when initially checking a chart for fib respect in the market - which of the 2 takes priority - the fib zones or the retracements?
i remember him saying he first wants to se respect of the retracements then the expansions then the zones hope that helps
  • #467
  • Sep 11, 2008 5:34am Sep 11, 2008 5:34am
Oil.......... $79 a barrel ??

lets hope so...........

Dean.
Attached Image (click to enlarge)
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perception is reality
  • #468
  • Sep 11, 2008 5:57am Sep 11, 2008 5:57am
hey ,

Mouteki , nice move on the nzd\chf , got out yesterday , took profit - thank you ...

I have been looking for a long time on the cad\jpy , and I was very glad that you talked about it in the forex truth 8 video , I'll wait to short this pair.

any way , there is another pair that got my eyes , it looks like there is harmony there ... I will be happy to hear comments
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  • #469
  • Sep 11, 2008 7:15am Sep 11, 2008 7:15am
Great indicator. If its not too much to ask can you add the Fib Level labels starting with the base, 0, 89, 144, etc...

Thanks in advance,

TimeFreedom

Quoting rokanet
Usage:

1) Place a Horizontal Line, name it "FIBO_ZONE";
2) Attach the indicator "FIBO_ZONE.mq4";
3) Parameters: (DEFAULT settings)

  1. start_level = 50 (Minium Fibo Seq Value)
  2. end_level = 3000 (Maxium Fibo Seq Value)
  3. show_long = true (Show upper lines)
  4. show_short = true (Show lower lines)
  5. line_color = Red (Fibo Seq lines' color)
  6. line_width = 3 (Fibo Seq lines' width)
  7. fibo_line_name = "FIBO_ZONE" (Name of the Original Horizontal Line)

4) De-attach the indicator "FIBO_ZONE.mq4", all fibo lines will be deleted, except for the original Horizontal Line, naming "FIBO_ZONE".

Simple tool, hope helpful.

  • #470
  • Sep 11, 2008 7:39am Sep 11, 2008 7:39am
@ Supaq;

Good find. Keeping an eye on this one. Looks like we will have a retracement to the 38% Fib and then lets keep an eye on how the market reacts to this level.

TimeFreedom

Quoting supaq
does anyone else have this setup its retracing from 161 extension and the 987 fib zone i am expecting it to retrace to either 610 zone which is 38% retracement of the current move or the 377 zone and 61%retracement then going short looking on forex factory there is news for the nzd in red so it will be intresting to see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: newmouteki_audnzd_09-11-08_01.gif Size: 13 KB
  • #471
  • Sep 11, 2008 8:03am Sep 11, 2008 8:03am
Quoting deanz
Oil.......... $79 a barrel ??

lets hope so...........

Dean.
Fine, but where's the harmony from respecting earlier fib retracemets and expansions?? - without these I dont think you have a viable use of the Fib Zones......

FYI 100.04 is the 76.4% retracement of the whole of this year's rally.....
Trading Levels with WRBs
  • #472
  • Edited 10:54am Sep 11, 2008 10:03am | Edited 10:54am
Quoting moutekitrader
With that said, I will be releasing the fundamental and volume analysis soon, possibly tomorrow...but before that happens, I am finishing a PDF on technical analysis for us all to have as a good reinforcement tool.

I really need this pdf. I am trying to follow the videos and I just don't get how to step by step apply this to a chart using Metatrader. I understand the concept, but not the correct application of the concept. For just one example of the problems I am having, when I use the Fibonacci retracement tool, it only shows 0, 23.6, 38.2, 50.0, 61.8, 100. I cannot get 610, 987 and 1597 to show! For Fibonacci expansions I always get 61.8, 100.0, 161.8.

The videos are too small to read the values on the fibonacci lines or really see whats going on. I downloaded them in an attempt to view them larger in the media player but they only play with audio and no video in windows media player (no codec?). Does anyone know if these videos can be downloaded, and what video program they can be played in?

I read the old Mouteki method in written form and I had no problem understanding it. PLEASE do a written manual with step by step to accompany these videos. I have watched the videos over and over again and I just don't get it. Judging by so many questions and posted charts by other members (dozens of pages worth), many of them aren't getting it either, either theory or application of the theory to a chart.

I am anxiously awaiting this pdf you are writing.

Thank you.
  • #473
  • Sep 11, 2008 10:08am Sep 11, 2008 10:08am
Quoting Harry123
Before you make this video the final one of the series, could you please give one example of a currency pair where the Fibo don't respect retracement and expansion. I seems to have difficulty finding a pair not respecting each other.

Thanks
I too would like to see this. He is asking for a chart example that does NOT have harmony, where you have done the fibonacci retracement and expansion lines and pointing out why it is NOT a chart that shows harmony and thus not a buy or sell opportunity.

Someone earlier in this thread said that using fibonacci is often a self-fulfilling prophecy, I believe meaning that you are often seeing what you want to see. Showing us an example of where your technique shows a lack of harmony in a chart would be helpful in preventing this potential problem.
  • #474
  • Sep 11, 2008 11:11am Sep 11, 2008 11:11am
Quoting monkey
Someone earlier in this thread said that using fibonacci is often a self-fulfilling prophecy, I believe meaning that you are often seeing what you want to see.
Monkey, my understanding of what is meant "self-fulfilling prophecy" is this: if enough influential traders believe that a reversal is going to occur at a significant point (e.g. S/R, or Fibo retracement area), then they will place their orders accordingly. The presence of these large orders will then cause the reversal to actually occur.

David
  • #475
  • Sep 11, 2008 11:21am Sep 11, 2008 11:21am
Quoting monkey
I really need this pdf. I am trying to follow the videos and I just don't get how to step by step apply this to a chart using Metatrader. I understand the concept, but not the correct application of the concept. For just one example of the problems I am having, when I use the Fibonacci retracement tool, it only shows 0, 23.6, 38.2, 50.0, 61.8, 100. I cannot get 610, 987 and 1597 to show! For Fibonacci expansions I always get 61.8, 100.0, 161.8.

The videos are too small to read the values on the fibonacci lines or really see whats going on. I downloaded them in an attempt to view them larger in the media player but they only play with audio and no video in windows media player (no codec?). Does anyone know if these videos can be downloaded, and what video program they can be played in?

I read the old Mouteki method in written form and I had no problem understanding it. PLEASE do a written manual with step by step to accompany these videos. I have watched the videos over and over again and I just don't get it. Judging by so many questions and posted charts by other members (dozens of pages worth), many of them aren't getting it either, either theory or application of the theory to a chart.

I am anxiously awaiting this pdf you are writing.

Thank you.
Hi monkey

There are three tools in mouteki's technical analysis, which he calls Fibonacci Retracements, Fibonacci Expansions and Fibonacci Zones. The first two are common Fibonacci tools, which all good charting software have tools for, but there are no tools for the third one, which is what I believe is confusing you. (I think some members are trying to write an indicator for this, search around on the thread).

To get the Fib Zones i.e. 144, 233, 377, 610, 987, 1597 etc, all you need is a calculator (or your brain if you are good at math) and a 0 level.

For example, the EURUSD. mouteki took the all time high as the 0 level i.e. 1.6040.

To get the 144 fib zone: 1.6040 - 0.0144 = 1.5896
To get the 233 fib zone: 1.6040 - 0.0233 = 1.5807

etc

Once you have these levels, use the horizontal line tools to mark them. That is all mouteki does.

Good trading

hakga
  • #476
  • Sep 11, 2008 11:39am Sep 11, 2008 11:39am
Monkey,
Did you watch the first few video's ? He shows how to setup the Fibs retracements and expansions and the fib zone's.
To get the video's full screen click on the little button on the bottom right hand corner that looks like 4 arrows.
  • #477
  • Sep 11, 2008 11:47am Sep 11, 2008 11:47am
Since the 50% default of the expansion fib is always being used why not just add those levels to the retracement fib? Then you only have to draw one fib for the retracement and expansion.

The levels to add to the metatrader retracement tool are:

1.118
1.5
1.882
2.118

See the attached image for how this looks in comparison with using the expansion fib.

On that note, it seems like using the expansion fib in this way where you are always extending from a 50% retrace (even if the price retraced more or less than 50%) would take you out of harmony with the price movement.

In my head it seems like to stay in harmony either:

a. adjust the expansion fib so it is expanded off the actual price retracement

or

b. use the 138.2, 161.8, and 261.8 levels of a retracement fib as the expansions as these are in sequence with the retracement fib.

Now that being said if what you are doing works, then it works and you can't argue with that! I'm just curious if there is any reason behind it or if the reason is just that it works.

Anyhow great thread and videos, thanks for sharing.
Attached Image (click to enlarge)
Click to Enlarge Name: fibs.gif Size: 18 KB
  • #478
  • Sep 11, 2008 12:10pm Sep 11, 2008 12:10pm
Quoting monkey
I really need this pdf. I am trying to follow the videos and I just don't get how to step by step apply this to a chart using Metatrader. I understand the concept, but not the correct application of the concept. For just one example of the problems I am having, when I use the Fibonacci retracement tool, it only shows 0, 23.6, 38.2, 50.0, 61.8, 100. I cannot get 610, 987 and 1597 to show! For Fibonacci expansions I always get 61.8, 100.0, 161.8.

The videos are too small to read the values on the fibonacci lines or really see whats going on. I downloaded them in an attempt to view them larger in the media player but they only play with audio and no video in windows media player (no codec?). Does anyone know if these videos can be downloaded, and what video program they can be played in?

I read the old Mouteki method in written form and I had no problem understanding it. PLEASE do a written manual with step by step to accompany these videos. I have watched the videos over and over again and I just don't get it. Judging by so many questions and posted charts by other members (dozens of pages worth), many of them aren't getting it either, either theory or application of the theory to a chart.

I am anxiously awaiting this pdf you are writing.

Thank you.
Hi Monkey

I think first you should ask yourself if you are trying to walk before you can run. Whilst I appreciate that we all have to start somewhere, IMO this is not a thread for beginners.

How many months have you been trading in the markets in general and with the MT4 platform before you started your journey in this somewhat advanced thread......have you read the excellent info in babypips . com ?

Your questions on the use of MT4 are very basic and have been covered many many times in the threads here in FF.

A very easy way to apply the Fib Zones is to use the crosshairs tool - just click on your start level and drag it up or down your chart. You will see three readings - say 5 / 25 / 1.7500. The first is the number of bars (candles) away from your start bar timewise. The second is the number of pips up or down and the third the actual price level of your crosshairs. Thus you can quicklt go to any number of pips, note the level pricewise and then draw your own horizontal line.

The question of how to get the videos to show Full Screen has already been answered in an earlier post - and I too was grateful for this info! - click on the 4 arrowed icon.

Really, there is no substitute for your own research and hard work and I cant agree that most of the posters here "arent getting it".

Regards

Islander
Trading Levels with WRBs
  • #479
  • Sep 11, 2008 12:16pm Sep 11, 2008 12:16pm
Hi to All and this is directed to a question from Monkey.

If it is considered Off Subject, I am sorry.

Health problems have stopped me from writing much any more at the moment.

However the article below is a direct copy of an item I wrote for one of my
websites last year. This site covered the often neglected subject of Timing.

Although the article refers to timing. Fibonacci numbers are calculated in the
same way, no matter what they are used for. (Price or Timing).

I am not here to advertise so please do not ask for URLs. Thank you.

------------------------------------------

A Few Simple Notes About Fibonacci Time Series.

First, this is an accepted time series that is hundreds, if not thousands
of years old. It is not my, or anyone elses sudden discovery!

It would take a book to give all the Hows, Whys and Formulae.
My aim here is to try to show you in simple terms how to use it.

First, the numbers are always the same. They go upward to infinity but
for practical purposes these should be enough.

1 – 1 – 2 – 3 – 5 – 8 – 13 – 21 – 34 – 55 – 89 – 144 – 233 – 377 – 610 –
987 – 1597 – 2584 – 4181

Those of you who are on form today will note that each number is the sum
of the previous two numbers. This is not just a random act. What you may
not notice so easily is that each number is the previous number multiplied
by 1.62.

1.62 you say, where have we heard of that before? Well without getting
bogged down in facts this number appears in most places in nature
from ferns to the galaxies.

And of course it is an important number in price support and resistance.
Not being covered here but all the same retracement and extension
numbers feature heavily in time studies.

If your platform does not have this feature you will need to count the bars.
Any timeframe, but the bigger the better.

First find a significant pivot for the timeframe you are using. Mark that
with a vertical line. Next count to the first number you are going to use
( 21 in my case) and draw a second vertical line. Continue this as far
as is practical. My platform does this automatically and labels each
line with the number of bars and date.

Please remember, this is not cycles, therefore you do not need two
Pivot points, only one!

When time moves on to a point where you feel that the marker bars are
too far apart, you can start again from another significant pivot. I always
leave the original markers on the chart as any point where two lots of
time lines are together is stronger. Doing this several times on a chart
will produce a mess. But you will be surprised how many “clusters” you
get. Again noting time lines from different timeframes will produce
clusters. Adding strength to a time line.

This series works on trading bars. Therefore on a daily basis it works
on trading days rather than calendar days. If you use the trading bars
of any timeframe it will be correct. However, using the SP500 daily
cash continuous seems to give best results for that market. And
probably all the indices. I have not been able to check the difference
between Forex and Futures currencies but Forex works fine. After
all the difference at lower bar counts is small and we do not expect
to be right on all the time. Just another indicator to use along with
all your others to help confirm a trade.

Just a note about MetaTrader, which does have a flexible version
of the indicator that I use. For this one to get the same results as I get
you will need to be sure that for example the line 5 is set to bar five
and not any other bar!

--------------------------------------------------

Best Regards, glanfx
  • #480
  • Sep 11, 2008 12:40pm Sep 11, 2008 12:40pm
Hi Glan - nice to hear of someone having success in timing via fibos.

The standard MT4 Fibonacci Time Zones tool can easily be reset to cover any number of fibo numbers.......it can also be set to draw the Lucas Sequence.....or you can use the crosshairs as I mentioned earler.

I'm happy to talk about this, but suggest that its better not confusing this excellent thread - if anyone's interested please drop me a PM.

Thanks

Issy
Trading Levels with WRBs
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