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New Mouteki Method...

  • #481
  • Sep 11, 2008 12:56pm Sep 11, 2008 12:56pm
I've been silently following along with this thread and the videos, learning tons along the way. I've been waiting to wade into the thread when I had something worthwhile to contribute. Though my understanding of Mouteki's method is rounding in to shape it seems you fine folks here have been a couple steps ahead of me in grasping this and posting your good questions and example charts before I could. Thanks to all of you!

Hopefully some of you find this helpful....if nothing more than maybe a tad more convenient. And, please know that I got this idea from Bobokus in his Fibonacci thread.

Go to your Fib retracement tool, open the "Fibo Levels" tab and add the following under the "Level" column:

1.62 - (under "Description" call it Target 1 or Expansion 1, etc....)
2 -Target 2
2.62 - Target 3

-.62 - Target 1
-1 -Target 2
-1.62 -Target 3

I believe this will only work if you always pull your fibos from the top-down (I always do anyway). To facilitate this, I've renamed my .382 and .618 to:

.382 Short
.618 Long

Stand by for a screenshot. Also, you can find this info over on the first page of Bobokus' thread.

Again, thanks Mouteki and everyone. Hope you all see some value in this.

Randy
  • #482
  • Sep 11, 2008 1:07pm Sep 11, 2008 1:07pm
Example Chart

On edit:

T3 (the 161.8 expansion didn't show in this shot, but it's down there). Also, T1, T2, and T3 to the long side are simultaneously drawn here as well....they're hidden above of this screenshot.
Attached Image
  • #483
  • Sep 11, 2008 1:29pm Sep 11, 2008 1:29pm
thanks for the fib level "indicator". It has help alot....also thanks mouteki for video 8. Cant wait for the next series...
  • #484
  • Edited 1:57pm Sep 11, 2008 1:53pm | Edited 1:57pm
Quoting RandyG67
Example Chart

On edit:

T3 (the 161.8 expansion didn't show in this shot, but it's down there). Also, T1, T2, and T3 to the long side are simultaneously drawn here as well....they're hidden above of this screenshot.

Hi Guys!

As I see Mouteki draws the expansion levels from the retracement low/high of a move.
That is why probably RandyG67's levels T1, T2 and T3 on the chart are not the levels used by Mouteki... The levels RandyG67 used on the chart are counted from the first thrust low/high of a move and not from the retracement low/high of that move (the lowest or highest point the initial move retraced to).
Could someone confirm me?
  • #485
  • Sep 11, 2008 1:54pm Sep 11, 2008 1:54pm
Quoting RandyG67
Example Chart

On edit:

T3 (the 161.8 expansion didn't show in this shot, but it's down there). Also, T1, T2, and T3 to the long side are simultaneously drawn here as well....they're hidden above of this screenshot.
Randy - wow, you've had to go back a long way to find this example.......but where's the important 61.8 fib expansion that confirms that we have a valid continuation move?........ mmmm around the 222.67 level.....perhaps you can do some reverse engineering.....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #486
  • Sep 11, 2008 1:57pm Sep 11, 2008 1:57pm
Quoting supaq
after watching video 7 i went back to the drawing board and this is what i found anyone seeing the same thing on usdjpy which do we trade and why
down trend 0 is at 124.12
uptrend 0 is at 95.73

i just did the usdjpy again and i found the same thing u did....hmmm interesting ....

i drew the downtrend on a weekly chart...and as u can see there is harmony and after hitting 2584 it retraced to 1597 and now its going back down...also there are still fib expansions from previous respect of fib retracement...so based on this im thinking its actually a down trend going for the 4181 zone....i could be wrong...what does everyone else think....
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy weekly.gif Size: 34 KB
  • #487
  • Sep 11, 2008 2:20pm Sep 11, 2008 2:20pm
Quoting ShadowPrince
i just did the usdjpy again and i found the same thing u did....hmmm interesting ....

i drew the downtrend on a weekly chart...and as u can see there is harmony and after hitting 2584 it retraced to 1597 and now its going back down...also there are still fib expansions from previous respect of fib retracement...so based on this im thinking its actually a down trend going for the 4181 zone....i could be wrong...what does everyone else think....

this is pretty much how it is on alot of currencies if you look you can make a good case for long/short using fib zones. knowing which one is the correct one well then everyone would be making money..
  • #488
  • Sep 11, 2008 2:38pm Sep 11, 2008 2:38pm
Quoting RandyG67
I've been silently following along with this thread and the videos, learning tons along the way. I've been waiting to wade into the thread when I had something worthwhile to contribute. Though my understanding of Mouteki's method is rounding in to shape it seems you fine folks here have been a couple steps ahead of me in grasping this and posting your good questions and example charts before I could. Thanks to all of you!

Hopefully some of you find this helpful....if nothing more than maybe a tad more convenient. And, please know that I got this idea from Bobokus in his Fibonacci thread.

Go to your Fib retracement tool, open the "Fibo Levels" tab and add the following under the "Level" column:

1.62 - (under "Description" call it Target 1 or Expansion 1, etc....)
2 -Target 2
2.62 - Target 3

-.62 - Target 1
-1 -Target 2
-1.62 -Target 3

I believe this will only work if you always pull your fibos from the top-down (I always do anyway). To facilitate this, I've renamed my .382 and .618 to:

.382 Short
.618 Long

Stand by for a screenshot. Also, you can find this info over on the first page of Bobokus' thread.

Again, thanks Mouteki and everyone. Hope you all see some value in this.

Randy
Adding those fib levels to the retracements are not the same as the fib extension levels.
Attached Image (click to enlarge)
Click to Enlarge Name: gufibs.gif Size: 14 KB
  • #489
  • Sep 11, 2008 2:40pm Sep 11, 2008 2:40pm
ShadowPrince,
I'm actively trading this pair so I'll give you my opinion. USD/JPY broke the downward trendline on the weekly chart. Fundamental opinion at that moment is that this was a real reversal upward. On a shorter TF chart, it is going down, that is true (which is good for me because I just added another long) and if I was trading a smaller TF, under normal circumstances (remember the US just screwed the taxpayers) I would have considered a short. We just had a nice reversal candle on the daily. Price never closed below 61.8% nor hit the reversal point 78.6% of the last big move up. My goal is 111.72. If price goes below 105.62, I will consider covering my longs.
Attached Image (click to enlarge)
Click to Enlarge Name: uy.jpg Size: 131 KB
  • #490
  • Sep 11, 2008 2:42pm Sep 11, 2008 2:42pm
Quoting RandyG67
I've been silently following along with this thread and the videos, learning tons along the way. I've been waiting to wade into the thread when I had something worthwhile to contribute. Though my understanding of Mouteki's method is rounding in to shape it seems you fine folks here have been a couple steps ahead of me in grasping this and posting your good questions and example charts before I could. Thanks to all of you!

Hopefully some of you find this helpful....if nothing more than maybe a tad more convenient. And, please know that I got this idea from Bobokus in his Fibonacci thread.

Go to your Fib retracement tool, open the "Fibo Levels" tab and add the following under the "Level" column:

1.62 - (under "Description" call it Target 1 or Expansion 1, etc....)
2 -Target 2
2.62 - Target 3

-.62 - Target 1
-1 -Target 2
-1.62 -Target 3

I believe this will only work if you always pull your fibos from the top-down (I always do anyway). To facilitate this, I've renamed my .382 and .618 to:

.382 Short
.618 Long

Stand by for a screenshot. Also, you can find this info over on the first page of Bobokus' thread.

Again, thanks Mouteki and everyone. Hope you all see some value in this.

Randy
http://www.forexfactory.com/showthread.php?t=90540

Good mind goes along ^^
  • #491
  • Sep 11, 2008 3:18pm Sep 11, 2008 3:18pm
maybe mouteki can reffer to it on the next video ...

I'm trying to figure how to use this method for my next trade , so I would like to ask (once again) , when does it count safe to enter a trade after a fibonacci retacement \ zone was respected ,38 , 50 61??

for example , let's say a currency pair made a move south retraced and continued on the south move ... I shot a fibonacco retracement and I saw it hit the 50 level and than cotinue going south , after that i shot the fibonacci expansion - after a few days , price touched those fib expansion levels and began retracing ...

the qeustion is - where I'll be looking to short this currency pair ? is it when I'll see it respect the 38 level , 50 or 61 level ? or maybe when I'll see it respect the last fibonacci zone?

I'm really looking for answer ..

Barak
  • #492
  • Sep 11, 2008 3:26pm Sep 11, 2008 3:26pm
When price gaps up or down to a retracement level or fib zone is it considered valid price movement to that area.

When doing your analsys and you find yourself with good fib flow long and short on the same currency pair how do you decide which one to trade.
  • #493
  • Sep 11, 2008 3:51pm Sep 11, 2008 3:51pm
Quote
As I see Mouteki draws the expansion levels from the retracement low/high of a move.
That is why probably RandyG67's levels T1, T2 and T3 on the chart are not the levels used by Mouteki... The levels RandyG67 used on the chart are counted from the first thrust low/high of a move and not from the retracement low/high of that move (the lowest or highest point the initial move retraced to).
Could someone confirm me?

Hmmm.....I'm pretty sure he uses the Expansion tool to cover the high and low of the original fib move. I guess this is a good time for us all to get on the same page. Maybe I'm not seeing it correctly in the videos?
  • #494
  • Sep 11, 2008 3:54pm Sep 11, 2008 3:54pm
in addition to my last qeustion ,

is there harmony only if the price retrace to the last fib retracemnt set , or it can also retrace to the previous one ,

can it only retrace to the red fib 61 retracement , or can it go on and retrace to the yellow 61 retrce level for still being in harmony ?

I'm not qeustioning the method , I'm just trying to apply it for real time trading...
Attached Image (click to enlarge)
Click to Enlarge Name: 22.gif Size: 55 KB
  • #495
  • Sep 11, 2008 3:55pm Sep 11, 2008 3:55pm
Quote
Randy - wow, you've had to go back a long way to find this example.......but where's the important 61.8 fib expansion that confirms that we have a valid continuation move?........ mmmm around the 222.67 level.....perhaps you can do some reverse engineering....

Now, provided I understand correctly how Mouteki is pulling the Expansions, the T1 is the 61.8.

Before I posted I overlayed the Expansion tool fibs to make sure they lined up with the T1, T2, and T3 levels. The question now is, am I plotting Expansions the same as Mr. M???. (see post above)
  • #496
  • Sep 11, 2008 4:04pm Sep 11, 2008 4:04pm
Quoting RandyG67
Hmmm.....I'm pretty sure he uses the Expansion tool to cover the high and low of the original fib move. I guess this is a good time for us all to get on the same page. Maybe I'm not seeing it correctly in the videos?
The Fibonacci Expansion Tool in the MetaTrader 218 version (the newest version of MetaTrader) has three inputs. If there is a move down then the first input is the high of that move, the second input is the low of that move and the third input is the retracement high of that move. From this third input is the Fibonacci expansion counted on Mouteki's charts. I do not know which version of MetaTrader Mouteki uses as I did not see that he selected that third input when drawing the Fibonacci expansion levels.
I would be interested as well if Mouteki would answer to this in his video or here.
  • #497
  • Sep 11, 2008 4:07pm Sep 11, 2008 4:07pm
Quoting RandyG67
Now, provided I understand correctly how Mouteki is pulling the Expansions, the T1 is the 61.8.

Before I posted I overlayed the Expansion tool fibs to make sure they lined up with the T1, T2, and T3 levels. The question now is, am I plotting Expansions the same as Mr. M???. (see post above)
The expansion he is using is starting at 50% of the retracement range. From 50% retracement it extends the full retracement range and beyond.

See my last post for the correct levels to add to the retracement tool.
  • #498
  • Sep 11, 2008 4:12pm Sep 11, 2008 4:12pm
Quote
is there harmony only if the price retrace to the last fib retracemnt set , or it can also retrace to the previous one ,
Barak,

Remember that each move has it's own color. Let's say we plot the initial move in yellow. This move is "in harmony" if it retraces to either the .382, .50, or .618 (or somewhere in this zone), then continues in the original direction to take out (touch) successive expansion levels. Eventually it's going to make a new low and then retrace from this new low.

Now, from this new low, shoot another fib set beginning at the same high you started your "yellow" move and ending at this new low. Let's use blue for this move. From this new low, did it retrace enough to touch either the blue .382, .50, or .618? If not....this new move hasn't found harmony yet. Take your blue fibs off your chart (leaving on the yellow ones) and wait for a further retrace, or an even newer low and then a retrace.

However, if this blue retracement DID retrace enough to touch somewhere within the blue .382, .50, or .618 fib, and then continue downward from here, it has respected the retrace levels properly so as to be considered "in harmony". You now have a "yellow" move in harmony and a "blue" (bigger) move in harmony and you can start looking for yellow and blue expansion levels for targets/confluence.
  • #499
  • Sep 11, 2008 4:18pm Sep 11, 2008 4:18pm
Quoting silkrhino
The expansion he is using is starting at 50% of the retracement range. From 50% retracement it extends the full retracement range and beyond.

See my last post for the correct levels to add to the retracement tool.
silkrhino!
So Mouteki counts the Fibo expansion levels from the 50% retracement level? Are you 100% sure? Which version of MetaTrader does this way?
I guess he counts from the retracement high point of a down move be it the 38.2, 50 or 61.8 retracement levels.
  • #500
  • Sep 11, 2008 4:34pm Sep 11, 2008 4:34pm
Quoting RandyG67
Barak,

Remember that each move has it's own color. Let's say we plot the initial move in yellow. This move is "in harmony" if it retraces to either the .382, .50, or .618 (or somewhere in this zone), then continues in the original direction to take out (touch) successive expansion levels. Eventually it's going to make a new low and then retrace from this new low.

Now, from this new low, shoot another fib set beginning at the same high you started your "yellow" move and ending at this new low. Let's use blue for this move. From this new low, did it retrace enough to touch either the blue .382, .50, or .618? If not....this new move hasn't found harmony yet. Take your blue fibs off your chart (leaving on the yellow ones) and wait for a further retrace, or an even newer low and then a retrace.

However, if this blue retracement DID retrace enough to touch somewhere within the blue .382, .50, or .618 fib, and then continue downward from here, it has respected the retrace levels properly so as to be considered "in harmony". You now have a "yellow" move in harmony and a "blue" (bigger) move in harmony and you can start looking for yellow and blue expansion levels for targets/confluence.
hey randy ,

Thanks for the answer , it really , really helpped me .

the other part of the qeustion was , when I'll know that the currency pair has done retracing and now goes on the orginal direction ... let's say that the cad\jpy will retrace to the 38 fib level ,and I'll see there respect of that level, will it be a good place to short it ? how will I know that it's done retracing and not going to retrace to the 50 , 61 ? meaning , when a currency pair is retracing when I'll be expecting it to go on the original move before get in to a trade ?

thank you so much...
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