smaller one works too
- #82,842
- Apr 2, 2009 2:27pm Apr 2, 2009 2:27pm
- Joined Oct 2008 | Status: sideline is a position | 105,127 Posts
It might work even better if you draw fibo lines every 20 pips
those who can, do. those who cant, talk about those who can
- #82,844
- Apr 2, 2009 2:52pm Apr 2, 2009 2:52pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Just saw a post on the J16 thread about 50% retraces converging with the figure being a high confidence S/R level and it made me remember an old chart I'd done but don't remember posting. Since I still have it, here it is..
It's a 4hr chart so a decent TF to work off of combined with a decent reversal candle pattern ((RR tracks, tweezers, whatever you want to call them))
In hindsight they don't get any better than this, and underscore the value of the higher TF's even if you primarily trade lower ones... something to ponder over the weekend as the 3425 level is 50% of the move from 3735 down to 3110 (brown). These things aren't always exact and a a few pips off doesn't put me off...
The fib anchors are for the 2 separate fibs. The brown one converges with the white 79% level of the 60xx high to the 23xx Low. Priceless.
Pull the numbers for thatbrown fib on a 4hr and zoom out to at least the FOMC rate news and the Geitner Gaffe and think about what you're seeing using Hzl S/R, and that 3444 11sma number...
It's a 4hr chart so a decent TF to work off of combined with a decent reversal candle pattern ((RR tracks, tweezers, whatever you want to call them))
In hindsight they don't get any better than this, and underscore the value of the higher TF's even if you primarily trade lower ones... something to ponder over the weekend as the 3425 level is 50% of the move from 3735 down to 3110 (brown). These things aren't always exact and a a few pips off doesn't put me off...
The fib anchors are for the 2 separate fibs. The brown one converges with the white 79% level of the 60xx high to the 23xx Low. Priceless.
Pull the numbers for thatbrown fib on a 4hr and zoom out to at least the FOMC rate news and the Geitner Gaffe and think about what you're seeing using Hzl S/R, and that 3444 11sma number...
FUBAR...
- #82,846
- Apr 2, 2009 3:51pm Apr 2, 2009 3:51pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
- #82,848
- Apr 2, 2009 4:10pm Apr 2, 2009 4:10pm
wow 
what i can say more...
i came from job and what i see...???
more then 210 pips up !!!!
$.$
what i said 2 days ago...it will reach 13350 it will.
it did. im just couriuos now how much is gona rise.any ideas?
im hearing from source that it could reach EUR/USD į 1.3527 - possible?
what i can say more...i came from job and what i see...???
more then 210 pips up !!!!
$.$
what i said 2 days ago...it will reach 13350 it will.it did. im just couriuos now how much is gona rise.any ideas?
im hearing from source that it could reach EUR/USD į 1.3527 - possible?
- #82,849
- Apr 2, 2009 4:34pm Apr 2, 2009 4:34pm
- Joined Oct 2008 | Status: Trader | 3,473 Posts
More proof those silly fibs drawn "after the fact" have absolutley no usefullness whatsoever and should be destoyed.
Upper and Lower anchors in orange, Useless fib hits in pink.
just looked at my weekly and hey what do you see??? it stopped at the 50% fib.
Must be a total coincidence or luck or something like that, but fibs don't work hehehehhe
Hope you all had some good trades I had been on the sidelines as I just wanted to see what G20 came up with.
Good trading
TC
Trade on your own risk
Plan your trade&trade your plan dont be a 
- #82,850
- Apr 2, 2009 4:36pm Apr 2, 2009 4:36pm
- Joined Oct 2008 | Status: Trader | 3,473 Posts
wow
i came from job and what i see...???
more then 210 pips up !!!!
$.$
it did. im just couriuos now how much is gona rise.any ideas?
im hearing from source that it could reach EUR/USD į 1.3527 - possible?
Trade on your own risk
Plan your trade&trade your plan dont be a
- #82,852
- Apr 2, 2009 4:50pm Apr 2, 2009 4:50pm
- Joined Sep 2008 | Status: Are you sure this is how its done? | 2,331 Posts
I think we should outlaw all the indicators. They don't tell anything about the future.
Lets use "forecasting" indicators only, the ones that clearly tell you if it is going up or down in the next 5 minutes.
- #82,853
- Apr 2, 2009 4:54pm Apr 2, 2009 4:54pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Hi AK
just looked at my weekly and hey what do you see??? it stopped at the 50% fib.
Must be a total coincidence or luck or something like that, but fibs don't work hehehehhe
Hope you all had some good trades I had been on the sidelines as I just wanted to see what G20 came up with.
Good trading
TC
Yep coincidence, if you draw fib lines at 1% intervals you realise they'll call every single move on the market, won't give you any advantage ofcourse like they don't at the moment, as you don't know when it'll go through or reverse just the same.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #82,854
- Apr 2, 2009 5:13pm Apr 2, 2009 5:13pm
Yep coincidence, if you draw fib lines at 1% intervals you realise they'll call every single move on the market, won't give you any advantage ofcourse like they don't at the moment, as you don't know when it'll go through or reverse just the same.
Ok in order for this move to have legs AND maintain upside, it must cross 1.3712 levels. It aint gonna happen tonight. With the interest gig, and the possible rally in european and japanese stocks, it "shall" go up tonight. But million dollar questions is How Much?? RSI and Stochs are still looking bullish, and there is still some room for the upside.
So for the peoples who wanna short "it", please wait. Yes, time will be ripe tomorrow to do that, but it is not tonight.
I am not confident for a short here, or a long for that matter but when I wake up tomorrow and see it anywhere near 1.3550-1.3600, Ssshort it 
So for the peoples who wanna short "it", please wait. Yes, time will be ripe tomorrow to do that, but it is not tonight.
I am not confident for a short here, or a long for that matter
but when I wake up tomorrow and see it anywhere near 1.3550-1.3600, Ssshort it - #82,857
- Apr 2, 2009 5:46pm Apr 2, 2009 5:46pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
but when I wake up tomorrow and see it anywhere near 1.3550-1.3600, Ssshort it
New voice message: Why are you calling me? If I need you, I'll call you!
wow
i came from job and what i see...???
more then 210 pips up !!!!
$.$
it did. im just couriuos now how much is gona rise.any ideas?
im hearing from source that it could reach EUR/USD į 1.3527 - possible?
.