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Trade what you see NOT what you expect

  • #9,181
  • Apr 21, 2009 3:01pm Apr 21, 2009 3:01pm
Quoting Komissar
I wish I put my SL 5 pips up!..
Ken, what number is 61.8 fibs on your charts?
Mine was 4701. I figured out that 4710 would be enough.
Just 5 f..king pips!

Mines right about the same I Just put it at 15 .. Sometimes they run stops on them like 00 numbers. So I have learned at the big fib numbers to add a margin of safety.
Good Trading To All ; Ken Lee
  • #9,182
  • Apr 21, 2009 3:01pm Apr 21, 2009 3:01pm
She close right below my trendline on the 4HR.

HOLLA
Attached Image
  • #9,183
  • Apr 21, 2009 3:05pm Apr 21, 2009 3:05pm
Quoting Turtle
She close right below my trendline on the 4HR.

HOLLA
It's still inside my h4 channel ......but the daily....
Attached Image (click to enlarge)
Click to Enlarge Name: day.gif Size: 20 KB
Patience + Discipline - Greed = Success
  • #9,184
  • Apr 21, 2009 3:05pm Apr 21, 2009 3:05pm
Quoting KENNETH lEE
Mines right about the same I Just put it at 15 .. Sometimes they run stops on them like 00 numbers. So I have learned at the big fib numbers to add a margin of safety.
Thanks a lot.
I've heard about "Round numbers", but I think it mostly referred to 100, 50 and 25. I thought 10 will be fine.
  • #9,185
  • Apr 21, 2009 3:06pm Apr 21, 2009 3:06pm
here is my 4hr with fib levels.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hr GBP.JPG Size: 141 KB
Good Trading To All ; Ken Lee
  • #9,186
  • Apr 21, 2009 3:06pm Apr 21, 2009 3:06pm
Quoting Turtle
She close right below my trendline on the 4HR.

HOLLA
Notice the matching wicks as well! Could be good for my short march or just a tease to take me out. We'll see how it develops.
Just digging in the trenches like everyone else!
  • #9,187
  • Apr 21, 2009 3:08pm Apr 21, 2009 3:08pm
Quoting Komissar
Thanks a lot.
I've heard about "Round numbers", but I think it mostly referred to 100, 50 and 25. I thought 10 will be fine.

700 is a 100 number .. But also they know orders are placed at the 50% and the 61% fib levels mainly. and they also know stops are placed just the other side ..
Good Trading To All ; Ken Lee
  • #9,188
  • Apr 21, 2009 3:10pm Apr 21, 2009 3:10pm
Quoting Infinity
It's still inside my h4 channel ......but the daily....
You think we're still headed up bro?
Just digging in the trenches like everyone else!
  • #9,189
  • Apr 21, 2009 3:12pm Apr 21, 2009 3:12pm
Quoting eohater
You think we're still headed up bro?
Still not clear for me so I am flat for now...
Patience + Discipline - Greed = Success
  • #9,190
  • Apr 21, 2009 3:12pm Apr 21, 2009 3:12pm
My Daily.......

HOLLA
Attached Image
  • #9,191
  • Apr 21, 2009 3:14pm Apr 21, 2009 3:14pm
Quoting Turtle
My Daily.......

HOLLA
Is that closed yet?... mine closes in 1h+15m
Patience + Discipline - Greed = Success
  • #9,192
  • Apr 21, 2009 3:15pm Apr 21, 2009 3:15pm
It could be the inverted shampoo we discussed on Sunday.
Attached Image
Hi, my name is Barry and you can keep your doctor...
  • #9,193
  • Apr 21, 2009 3:15pm Apr 21, 2009 3:15pm
Quoting Infinity
Is that closed yet?... mine closes in 1h+15m
Not until 8pm EDT....trendline is at 4615 area.

HOLLA
  • #9,194
  • Apr 21, 2009 3:20pm Apr 21, 2009 3:20pm
Quoting KENNETH lEE
here is my 4hr with fib levels.
I have a different one - between new high 5070 and new low 4471.
Hm?
Attached Image (click to enlarge)
Click to Enlarge Name: 15min.jpg Size: 115 KB
  • #9,195
  • Apr 21, 2009 3:20pm Apr 21, 2009 3:20pm
I closed both my short around the 10 ema's For little profits. Be back for asia maybe then it will have made up it's mind.
Good Trading To All ; Ken Lee
  • #9,196
  • Apr 21, 2009 3:23pm Apr 21, 2009 3:23pm
Quoting Komissar
I have a different one - between new high 5070 and new low 4471.
Hm?

Mine is drawn from those points also NOW.. I realized I still had old ones on there.. By the way your fib is upside down. Price should move up to from the smaller % to the Greater % levels. From 0% to 100% it normally turns at the 38%,50%,or 62% levels.
Good Trading To All ; Ken Lee
  • #9,197
  • Apr 21, 2009 3:29pm Apr 21, 2009 3:29pm
Quoting KENNETH lEE
Mine is drawn from those points also NOW.. I realized I still had old ones on there.. By the way your fib is upside down. Price should move up to from the smaller % to the Greater % levels. From 0% to 100% it normally turns at the 38%,50%,or 62% levels.
I am confused.
Price is going south from 5070 to 4471, from 0% to 100%.
4700 is retracement to 61.8%. That's how I understand it.

I'll check my docs and software settings.
  • #9,198
  • Apr 21, 2009 3:36pm Apr 21, 2009 3:36pm
Quoting Komissar
I am confused.
Price is going south from 5070 to 4471, from 0% to 100%.
4700 is retracement to 61.8%. That's how I understand it.

I'll check my docs and software.

Fibonacci Retracement Tool.. Measures the precentage of a swings RETRACEMENT from where it came from. In this case it is measuring back up starting from 0% to 100% . The most common turning areas are the 38% , 50% and 61% . This are the % levels we are looking for price to turn back down. You could probabbly use them either way as the numbers are prettty close any way. 50% in the middle 38% and 61% both close to one 12% the other 11% from 50. It is all good.
Good Trading To All ; Ken Lee
  • #9,199
  • Apr 21, 2009 3:39pm Apr 21, 2009 3:39pm
Quoting Komissar
I am confused.
Price is going south from 5070 to 4471, from 0% to 100%.
4700 is retracement to 61.8%. That's how I understand it.

I'll check my docs and software settings.
Subtract 4471 from 5070=599x.618=370+4470=4841. HTH
Hi, my name is Barry and you can keep your doctor...
  • #9,200
  • Apr 21, 2009 4:53pm Apr 21, 2009 4:53pm
H4 closing in 8 minutes
Attached Image (click to enlarge)
Click to Enlarge Name: h4.jpg Size: 143 KB
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