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Fib 4Hour MTF Moving Average

  • #101
  • Jan 29, 2009 3:21am Jan 29, 2009 3:21am
Hello ozziedave, I think, robby2007 will trade pic#2. Because on pic. 1 movement not strong, on Pic 3 point C, D is wrong because previous movement has been retraced to the 38.2

But, maybe I'm not right
  • #102
  • Jan 29, 2009 3:26am Jan 29, 2009 3:26am
Hey Robby,

Thanks for posting this strategy. This is the first fib-based strategy that I feel compelled to trade.

I too, have problems with placing the fib swing high and swing low points. Well...I have a rather simple addition to your strategy that doesn't change the trading methodology at all. In order to make it much easier to see the swing Hi/Lo points, I am using the simple Zig Zag indicator to fix those points. The standard settings seem to work well with the 4 hour charts. Different time frames will necessitate playing with the indicator settings for it to work correctly. Please try this approach and let us know if you feel it is valid or not.

Thanks again,
Bob in Wisconsin
  • #103
  • Jan 29, 2009 5:22am Jan 29, 2009 5:22am
Quoting robby2007
Hi Denver, you got the fib correctly, and as you can see you could have a nice bounce off the 38.2 for a couple of +pips also, and i would buy also on the 61.8
thanks robby.

in fact, i put orders at that level and when i woke up, found that the buy had been triggered and i had two lots - one with TP set at 50%, which was just closed for some good .
Still have second one running with SL moved to lock in some profit.

I still have some problems getting the fibs right but i think if i keep following the posts here, i should get over it.

thanks for your contributions here .
  • #104
  • Jan 29, 2009 5:52am Jan 29, 2009 5:52am
Pls post fibo indicator for this thread

Thanks
  • #105
  • Jan 29, 2009 6:33am Jan 29, 2009 6:33am
If anybody has problems with drawing fibs, you can use zigzag indicator and folow its lines, chart attached.

By the way jtmoore was correct about trades at 62.8 level; it does not make sense to close the position from 38.2 level at 62.8 level and open another one at the same level.

It is exactly like opening one position at 38.2 level and set the stop 100 pips above or below the 62.8 level.
Attached Image
Regards
  • #106
  • Edited 7:44am Jan 29, 2009 7:24am | Edited 7:44am
Had some decent trades on on the G/U and A/U...both buys at 38.2 and 61.8 for the A/U
Attached Image (click to enlarge)
Click to Enlarge Name: thursday.jpg Size: 162 KB
"Your big opportunity may be right where you are now." Napoleon Hill
  • #107
  • Jan 29, 2009 7:36am Jan 29, 2009 7:36am
Quoting fx1618.com
Could you say me - These fibs are correct?

http://www.ii4.ru/images/513405111.gif
Yes, it is correct
  • #108
  • Jan 29, 2009 7:40am Jan 29, 2009 7:40am
Quoting ozziedave
Hi Rob,

Just trying to understand how you pull your fibs. I see you have some very long term fibs on your chart in one direction and other shorter fibs pulled in the opposite direction. I must admit this is where most people, me included,...
Hi Ozzie, your drawings are correct, and the last one, since it didnīt broke the 0.0 and 100, you just leave it until those points are broken, only when it is broken you move your fibs
  • #109
  • Jan 29, 2009 7:44am Jan 29, 2009 7:44am
Quoting Bobcat2
Hey Robby,

Thanks for posting this strategy. This is the first fib-based strategy that I feel compelled to trade.

I too, have problems with placing the fib swing high and swing low points. Well...I have a rather simple addition to your strategy that doesn't change the trading methodology at all....
Hi Bobcat, i have tried to use the zigzag fibo indicator, it didnīt work, because i think you need a great part of human based desitions on how to place the fibs, and this indi, just pulls the extremes until it finds a retrace, the problem is that after the retrace if price keeps going it redraws the fibs based on that current movement, i had a beta from that indicator, and it didnīt do the job, if you have a better version, you can post it and we can see how it goes, thanks anyway
  • #110
  • Jan 29, 2009 7:46am Jan 29, 2009 7:46am
Hi,
first of all congratulation to Robby, this method is really interesting..
If you are a beginner, as you told, you are are a promising trader...

Regarding the missunderstanding on the two order at 38 and 61 Fibo maybe I can give an explanation. I noticed that Robby use Trailing Stop so if he doesn't close the position opened at 38 Fibo he can't use this feature cause many software are not able to trail the stop when we are in loss but only when we are winning. So he close the first position (opened at 38) and open a new one at 61 with a fixed stop of 100 pips and a trailing stop of 75-100 pips.

Correct me, Robby, if I'm wrong..

The Zig Zag.. hmmm looking at Robby's picture I donėt think this indicator can be useful. He focuses on clear short trends with no retracement to the 38 Fibo...

In any case I will follow this thread and I'll try to give my contribution...
Let's start this journey togheter...
  • #111
  • Jan 29, 2009 7:47am Jan 29, 2009 7:47am
Quoting howard
If anybody has problems with drawing fibs, you can use zigzag indicator and folow its lines, chart attached.

By the way jtmoore was correct about trades at 62.8 level; it does not make sense to close the position from 38.2 level at 62.8 level and open another one at the same level.

It is exactly like opening one position at 38.2 level and set the stop 100 pips above or below the 62.8 level.
Do as you like, it really is the same thing.
  • #112
  • Jan 29, 2009 7:58am Jan 29, 2009 7:58am
Quoting Clode
Hi,
first of all congratulation to Robby, this method is really interesting..
If you are a beginner, as you told,...
Hello Clode, thanks and welcome, donīt worry about the SL and no SL, guys do whatever you feel good doing, i say it again, i feel more comfortable using SL and opening two orders, do whatever you like, letīs move on with this, i donīt like to clutter the thread, i have been trying the zig zag indicator, and it doesnīt work at all, so donīt use it guys
  • #113
  • Edited 8:17am Jan 29, 2009 8:05am | Edited 8:17am
Ok, the trades from post 91 all went as planned, except for the number 3, nice pips flowing guys, i will try to continue posting charts with trades that i will do, but please trade at your own risk and money management, if a trade goes bad, donīt blame me, always remember that i didnīt pull a gun to your heads and make you trade, i will post trades that i will enter so if we loose we lose, if we win we win...

God Bless you all
Robby

PD: Pic: Currently open trades
Attached Image (click to enlarge)
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  • #114
  • Jan 29, 2009 8:20am Jan 29, 2009 8:20am
Robby, in drawing your fibs, can you give an example as to the starting point. I've noticed some of the wicks are filtered out. What criteria to you go by to establish a starting point.. Thanks
  • #115
  • Jan 29, 2009 8:39am Jan 29, 2009 8:39am
Quoting miketodd
Robby, in drawing your fibs, can you give an example as to the starting point. I've noticed some of the wicks are filtered out. What criteria to you go by to establish a starting point.. Thanks
Iīll explain it again, but i think this has been very well discussed in earlier posts.

Just find the latest movement that it started and didnīt retraced to any of the fibs yet (38.2 and 61.8), pull your fib on that movement, if it continues moving, keep pulling in the direction that it is moving until it retraces to the 38.2, sell there or put a pending there, there goes a pic.
Attached Image (click to enlarge)
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  • #116
  • Jan 29, 2009 9:59am Jan 29, 2009 9:59am
Quoting robby2007
Iīll explain it again, but i think this has been very well discussed in earlier posts.

Just find the latest movement that it started and didnīt retraced to any of the fibs yet (38.2 and 61.8), pull your fib on that movement, if it continues moving, keep pulling in the direction that it is moving until it retraces to the 38.2, sell there or put a pending there, there goes a pic.

Great.. another good trade.. It's a shame I was busy and I've missed it..
  • #117
  • Jan 29, 2009 10:28am Jan 29, 2009 10:28am
Hi Robby,

Can you say why this swing isn't being used anymore? Marked it with the blue line. I noticed on other charts you were using the longer FIBs to enter on trades. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: EU Actual.jpg Size: 108 KB
"Your big opportunity may be right where you are now." Napoleon Hill
  • #118
  • Jan 29, 2009 11:00am Jan 29, 2009 11:00am
Quoting TheHefner
Hi Robby,

Can you say why this swing isn't being used anymore? Marked it with the blue line. I noticed on other charts you were using the longer FIBs to enter on trades. Thanks
I am only focusing on the latests swings to make it simpler, but of course that fib can be used still, and yes i use longer fibs to try determine possible support/resistance
  • #119
  • Jan 29, 2009 5:00pm Jan 29, 2009 5:00pm
Quoting robby2007
I am only focusing on the latests swings to make it simpler, but of course that fib can be used still, and yes i use longer fibs to try determine possible support/resistance
what time of the day do u look or change your fibo
  • #120
  • Jan 29, 2009 5:52pm Jan 29, 2009 5:52pm
Quoting kareem
what time of the day do u look or change your fibo
That depends on how the market moves, there is no specific time
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