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Fib 4Hour MTF Moving Average

  • #121
  • Jan 29, 2009 7:22pm Jan 29, 2009 7:22pm
Hi Robby2007. Where I can get the Fibonacci Retracement indicator with price like on your charts? It'll be easy to now on which price put pending orders. Thank you!
  • #122
  • Jan 29, 2009 9:46pm Jan 29, 2009 9:46pm
Quoting blackhell
Hi Robby2007. Where I can get the Fibonacci Retracement indicator with price like on your charts? It'll be easy to now on which price put pending orders. Thank you!
You can add that to the fibs yourself.

Right click on Fib > fibo properties.

You would see Level and Description.

Under description, you'd see 0, 50 etc. You can add %$ to get the price of that fib line displayed.
  • #123
  • Jan 29, 2009 9:57pm Jan 29, 2009 9:57pm
Got it. Tnank you denverdude for help. It's better now
  • #124
  • Jan 29, 2009 10:27pm Jan 29, 2009 10:27pm
Hey all,

Been trading something similiar to robby's MTF set up. Here is a trade from yesterday on euro short from .3290...400 pips with t/p at 2750.

I like position trading and don't mind holding my trades. I only trade with the trend..no counters.

Good luck and I'll post again.
Attached Image (click to enlarge)
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  • #125
  • Jan 30, 2009 12:35am Jan 30, 2009 12:35am
Robby although you suggest trading 4h timeframe do you think it will work on lower timesframes? Only reason for it is low SL

I am going to give a try. we might see more noise in lower timerframes.
  • #126
  • Jan 30, 2009 3:43am Jan 30, 2009 3:43am
Quoting golferfx
Hey all,

Been trading something similiar to robby's MTF set up. Here is a trade from yesterday on euro short from .3290...400 pips with t/p at 2750.

I like position trading and don't mind holding my trades. I only trade with the trend..no counters.

Good luck and I'll post again.
Hi golferfx,

What do you use to determine the major trend and on what time frame do determine the trend and trade?
  • #127
  • Jan 30, 2009 3:45am Jan 30, 2009 3:45am
Quoting AndsX
Robby although you suggest trading 4h timeframe do you think it will work on lower timesframes? Only reason for it is low SL

I am going to give a try. we might see more noise in lower timerframes.
Hi AndsX,

Fibs will work on all time frames but anything less than 1 hr and you'll get a lot of whipsaw action unless your very quick on the trigger getting in and out. Just my two cents worth.
  • #128
  • Jan 30, 2009 7:47am Jan 30, 2009 7:47am
Quoting ozziedave
Hi golferfx,

What do you use to determine the major trend and on what time frame do determine the trend and trade?

Hey ozziedave,

I look at the monthly/weekly and base most of my trades off of the weekly/daily and dail down to the 4 hr. I have my fibs set up a little different and use this to determine my trade zones. I have the monthly pivs on all my charts and find price will react to these levels to the pip. I like to keep my trades simple...nothing really exciting...boring is good.
  • #129
  • Jan 30, 2009 10:21am Jan 30, 2009 10:21am
Hello guys, thanks Ozzie for replying to the posts, this week has been extremeely profitable, except for friday, i didn´t get any of my setups filled, and lost some pips on GU but overall i have made 415 pips on the week, next week i will try to teach some other stuff that i have bee using with this method, they are pivot points, mentioned by golderfx, i think this part of the method has been well understood and i have proven that it works really good, let´s move on next week, thanks to everybody, and have a nice weekend
  • #130
  • Jan 30, 2009 10:49am Jan 30, 2009 10:49am
Possible good set up for next week on G/U. Let's all keep an eye on the pivot and look for exhaustion bars.....patience.
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  • #131
  • Jan 30, 2009 11:23am Jan 30, 2009 11:23am
Quoting golferfx
Possible good set up for next week on G/U. Let's all keep an eye on the pivot and look for exhaustion bars.....patience.
Hi golferfx/. Level 1.4350 very important level we'll see next week..... Possible go back to 1.4000 level first
  • #132
  • Jan 30, 2009 11:52am Jan 30, 2009 11:52am
Quoting blackhell
Hi golferfx/. Level 1.4350 very important level we'll see next week..... Possible go back to 1.4000 level first
Could be...

But I'm more interested to see if the monthly holds...thats where I will be watching....sitting on hands.

Good thread robby...alot of good thinking members...let's keep it up.

golferfx
  • #133
  • Jan 30, 2009 12:10pm Jan 30, 2009 12:10pm
I agree with you golferfxit is good thread. Now I have some idea how to use fib retracement to get more pips when market ready to go in some direction so we may make more pips. I'll post some screenshots. I will sell GBP/USd from 1.4658 around... Thanks to Robby. Happy green pips and have a nice weekends.
  • #134
  • Jan 30, 2009 12:31pm Jan 30, 2009 12:31pm
How about this? What do you think golferfx?
Attached Image (click to enlarge)
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  • #135
  • Jan 30, 2009 3:11pm Jan 30, 2009 3:11pm
[quote=blackhell;2505450]How about this? What do you think golferfx?

[/quot

The pivots will change for the new month and I will be looking to see PA around this new piv. I would be looking still around the .4850 area and see if it holds the daily 50 ema....I would check your 50 setting...she's not looking right.
  • #136
  • Jan 30, 2009 3:30pm Jan 30, 2009 3:30pm
[quote=golferfx;2505720]
Quoting blackhell
How about this? What do you think golferfx?

[/quot

The pivots will change for the new month and I will be looking to see PA around this new piv. I would be looking still around the .4850 area and see if it holds the daily 50 ema....I would check your 50 setting...she's not looking right.
May be you right but i don't think the market will run to 1.48x area without retrecement. Especially from 1.35x to 1.45x now about 1000 pips. It's looks like BOE just give up their currency they don't like it at 1.35x
  • #137
  • Jan 30, 2009 3:33pm Jan 30, 2009 3:33pm
Cable still running up now above 1.45 and EUR/GBP fell under 0.8830x it was good support... Last 28 min until market will close
  • #138
  • Jan 30, 2009 4:34pm Jan 30, 2009 4:34pm
robby,

i'm having difficulty understanding when you move the swing high from a higher place to a lower place ( in the case of downtrend when we are looking for shorts @ 38.2 and 61.8) ?

can you please explain with some examples?

thanks
  • #139
  • Jan 30, 2009 10:03pm Jan 30, 2009 10:03pm
Quoting denverdude
robby,

i'm having difficulty understanding when you move the swing high from a higher place to a lower place ( in the case of downtrend when we are looking for shorts @ 38.2 and 61.8) ?

can you please explain with some examples?

thanks
1. Draw a fib on the latest movement without a retrace to any of our levels (38.2 and 61.8)
2. Enter on a retrace to any of this two levels (38.2 and 61.8)
3. If price breaks any of the 0.0 and 100, you move the fib to the new movement
4. Enter at this same levels when a retrace happens
5. When the market starts to reverse, leave the latest FIB (if it were short and color it red), start drawing the up Fib (Color it green)
6. When you start drawing the green fibs to go long, look at the red fibs for price targets or do not enter if they are too close

You can check the MTF Moving average and enter only on this direction, or just follow the market direction like i do, but if you trade against the trend, be very careful, don´t forget your stop losses, so if the candles are green i go long, if the candles are red i go short, if the direction of my trade is in the same as the MTF Moving average i might hold the trades a little longer, hope this clarifies, like i said my english is not very good, and i´m sorry if you are having problems understanding this, regards
Robby

i´ll try to picture it
Attached Image (click to enlarge)
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  • #140
  • Jan 31, 2009 4:29am Jan 31, 2009 4:29am
Good explanation!!! Even I have understood
Could you explain, where we will take profit. If I can not use trailing stop. Just your mind about it...
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