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  • #501
  • Jun 17, 2009 4:36pm Jun 17, 2009 4:36pm
[quote]
Dow Jones Industrial Average Support & Resistance Levels - June 18, 2009

Resistance Levels: 8600, 8878, 9000

Support Levels: 8500, 8343, 8250

http://2.bp.blogspot.com/_Fo0hStLoAK...une18-2009.png
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #502
  • Jun 17, 2009 9:11pm Jun 17, 2009 9:11pm
Quoting Samikshai
Sweeet Thanks
Welcome Samikshai ...

Hi folks ... as you will notice .. the whole Asian session we have PA consolidation on EU and cable .... and price is locked within a tight trading range ...

This is when the Katy break-out m30 Tf template comes in handy ... .....
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #503
  • Jun 17, 2009 11:33pm Jun 17, 2009 11:33pm
I was out this morning so I didn't make any trade.

Looking at Katy now, it seems to be trading within the two extreme end of COG.

On EU I am seeing the golden and green arms of the COG are coming together. Still trying to go back to the threads to see what's that mean again.
  • #504
  • Edited 3:02am Jun 18, 2009 2:37am | Edited 3:02am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Folks,

I am sure most of you would have noticed that indexes are unreliable in these markets. I would suggest using only katy on 15m-30m timeframes or higher if you prefer. Worth following fibos.
I had few hiccups while riding indexes so I started using fibo's and they are working fine for me now!!

I missed the down run on cable as I was travelling for office, I am so upset...

Indexes are for professional traders who can hold drawdowns upto 50 percent, you and me we can't :-) it's not advisable. So I would suggest scrapping them and following katy. It has few good indicators COG/sidus and mfibos.

I am sure most of you would know how to analyse fibs if not, learn about them first :-)

ams
  • #505
  • Jun 18, 2009 3:08am Jun 18, 2009 3:08am
Quoting ams
Folks,

I am sure most of you would have noticed that indexes are unreliable in these markets. I would suggest using only katy on 15m-30m timeframes or higher if you prefer. Worth following fibos.
I had few hiccups while riding indexes so I started using fibo's and they are working fine for me now!!

I missed the down run on cable as I was travelling for office, I am so upset...

Indexes are for professional traders who can hold drawdowns upto 50 percent, you and me we can't :-) it's not advisable. So I would suggest scrapping them and following...
I must agreed with ams on indices not helping with the market here. I have been trying to follow the indices yesterday for my trading and couldn't get anywhere. I missed out a few good trades because the indices is not in sync with Katy. I will try to focus on Katy for now and ignore the indices unless there is big sell off or rally on the indices. Other time I will follow what the COG/Sidus/Asctrend tell me.

I am still struggling a bit with the fibos, especially with the use of x-fibo. Bro ams, can you help to expand on that plase.

Thanx
  • #506
  • Jun 18, 2009 3:27am Jun 18, 2009 3:27am
Fibs were drawn manually on this 4hr chart which shows strong support at the 50.0 value, 3 times price action visited the line but the EMA's are getting closer 9 and 50, We may have a break in that support. I think anyways.
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  • #507
  • Jun 18, 2009 4:37am Jun 18, 2009 4:37am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
It's very easy to follow fibs:

Think as you are going up or down through steps, there are 4 imp levels for you to consider, 23x,38x,50x,61x. When you are stepping up you will try to make atleast 23x, if not you will go back to where you started or further away to gain some strenth. Once you have reached the 23x level you analyze if all is well with your health and you are ready for 38x, and so on until 61x where you will make final decision till 100x. Same goes when are stepping down i.e. - fib ratios

Read this article for further refrence: http://www.investopedia.com/ask/answ...etracement.asp



ams



Quoting DOVOFreak
I must agreed with ams on indices not helping with the market here. I have been trying to follow the indices yesterday for my trading and couldn't get anywhere. I missed out a few good trades because the indices is not in sync with Katy. I will try to focus on Katy for now and ignore the indices unless there is big sell off or rally on the indices. Other time I will follow what the COG/Sidus/Asctrend tell me.

I am still struggling a bit with the fibos, especially with the use of x-fibo. Bro ams, can you help to expand on that plase.

Thanx
  • #508
  • Jun 18, 2009 7:38am Jun 18, 2009 7:38am
Quoting ams
It's very easy to follow fibs:

Think as you are going up or down through steps, there are 4 imp levels for you to consider, 23x,38x,50x,61x. When you are stepping up you will try to make atleast 23x, if not you will go back to where you started or further away to gain some strenth. Once you have reached the 23x level you analyze if all is well with your health and you are ready for 38x, and so on until 61x where you will make final decision till 100x. Same goes when are stepping down i.e. - fib ratios

Read this article for further refrence: http://www.investopedia.com/ask/answ...etracement.asp



ams...
Hi ams ....

I do appreciate the work you posted today .... Am at home now after collecting my minutes for my trip from work ..

I can see a nice leap today in the DJIA so far .... It was also nice that you cautioned the new trades against just following the Indices but to concentrate more on Katy and fibs for signal generation ... I had pointed out earlier that the Indices are subject to a lot of turbulence now since they were at crucial R&S zones plus the quadruple witching of options ...

So I do hope you guys did make some profits today ... .. I didn't trade but am looking forward to placing some tonight ...

Good work arms and DOVO .. pls keep on posting important observations when you get the time to guide the trading ... I will be checking in and at least be posting the quadrants ...
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #509
  • Jun 18, 2009 8:40am Jun 18, 2009 8:40am
Philly Fed Report Boosts Stocks; Techs Drag ....

Stocks advanced Thursday after a trio of encouraging economic reports: The Philadelphia Federal Reserve's manufacturing report, leading indicators and weekly jobless claims.

But tech stocks continued to retreat, pulling the Nasdaq into negative territory while the Dow and S&P ticked higher.

The Philadelphia Fed's index of manufacturing conditions in the region improved to minus-2.2 in June from minus-22.6 in May, the best reading since September 2008 when the index was in positive territory and far better than the minus-17 economists had expected.Meanwhile, leading indicators rose for a second straight month, climbing 1.2 percent in May after a revised 1.1-percent gain in April, the Conference Board reported. The May gain was the largest since a 1.4-percent increase in March 2004.

"The recession is losing steam," Ken Goldstein, an economist for the Conference Board said in a statement. "Confidence is rebuilding and financial market volatility is abating." .....



link:
http://www.cnbc.com/id/31424343
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #510
  • Jun 18, 2009 8:44am Jun 18, 2009 8:44am
Quoting ams
It's very easy to follow fibs:

Think as you are going up or down through steps, there are 4 imp levels for you to consider, 23x,38x,50x,61x. When you are stepping up you will try to make atleast 23x, if not you will go back to where you started or further away to gain some strenth. Once you have reached the 23x level you analyze if all is well with your health and you are ready for 38x, and so on until 61x where you will make final decision till 100x. Same goes when are stepping down i.e. - fib ratios

Read this article for further refrence:...
I understand what is finonacci retracement and I know how to do that in MT4. However, what confuses me is how to you use the x-fibo in Katy? When do you know that a particular level will be reached? How do you know that it will move in one direction and not the other? I want to understand how to I use x-fibo in Katy as part of my trading.

Like in the last hour, it move from 1.0 toward 0.786 and half way through it reverse and go back up to 1.0. That's something that I am trying to understand to help me with my trading.

Thanx
  • #511
  • Jun 18, 2009 8:51am Jun 18, 2009 8:51am
Quote

"The recession is losing steam," Ken Goldstein, an economist for the Conference Board said in a statement. "Confidence is rebuilding and financial market volatility is abating." .....



link:
http://www.cnbc.com/id/31424343

I do believe folks that the rally cannot be completely ruled out as of yet for EU ... It has stood the test of the 1.3826 R zone - which was essential confirmation for a reversal or just a correction ....

Am in now .. scalping Katy upwards .. If all goes well .. am looking at the next serious R zone for EU at around 1.4041 and for Cable around 1.6432 ... ..

So, all the best as we scalp folks .. am concentrating ...:nerd: .. to collect some bread cramps ....
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #512
  • Jun 18, 2009 9:09am Jun 18, 2009 9:09am
Quoting DOVOFreak
I understand what is finonacci retracement and I know how to do that in MT4. However, what confuses me is how to you use the x-fibo in Katy? When do you know that a particular level will be reached? How do you know that it will move in one direction and not the other? I want to understand how to I use x-fibo in Katy as part of my trading.

Like in the last hour, it move from 1.0 toward 0.786 and half way through it reverse and go back up to 1.0. That's something that I am trying to understand to help me with my trading.

Thanx
Here is nice article about fib DOVO .... Written by Bobokus ... I follow these rules religiously in determining R and S zones ... ..
Attached File(s)
File Type: pdf Fibtoolbasics.pdf   555 KB | 396 downloads
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #513
  • Jun 18, 2009 9:30am Jun 18, 2009 9:30am
Quoting Popee83
Here is nice article about fib DOVO .... Written by Bobokus ... I follow these rules religiously in determining R and S zones ... ..
A more detailed read on fib is here ... still simple but complete ...
Attached File(s)
File Type: pdf fibonacci_genius_2008.pdf   481 KB | 1,473 downloads
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #514
  • Jun 18, 2009 9:49am Jun 18, 2009 9:49am
For the two books on fibonacci. I'll digest this over the weekend.
  • #515
  • Jun 18, 2009 9:53am Jun 18, 2009 9:53am
Looking at the 30m TF template that Pop sent earlier, it looks like 1.3985 is a huge resistance area. The last 3 hours EU has been trying to break above this level and fall back. Now the EU is trapped between MR1 and R1 and the template said we should go up but it failed to break that resistance level.

Even though DJIA is up, it doesn't help EU at all. Secretary Geithner is speaking on CNBC now and I doubt it has any impact on EU. The professional trader is waiting for a direction.
  • #516
  • Jun 18, 2009 11:10am Jun 18, 2009 11:10am
The break of the trendline at the price and fast trix, follow by the signal from the Sidus down channel gave me the signal to short the EU and exited at the next support level. Well it went down further until the 127% level from the last low to today high.

Nice feeling when you get it right.
  • #517
  • Jun 18, 2009 11:36am Jun 18, 2009 11:36am
Quoting DOVOFreak
The break of the trendline at the price and fast trix, follow by the signal from the Sidus down channel gave me the signal to short the EU and exited at the next support level. Well it went down further until the 127% level from the last low to today high.

Nice feeling when you get it right.
At last I believe you now see that :

INSIGHT + DISCERNMENT = (GOOD JUDGMENT + PROFITS)

Hope all of us took the dive ... set to go further to test m-fibo supports too ...
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #518
  • Jun 18, 2009 2:45pm Jun 18, 2009 2:45pm
Anyone willing to post 2morrows ranges? ... Pls do so using m-fibo ...
"I am convinced that He (God) does not play dice." - Albert Einstein
  • #519
  • Jun 18, 2009 10:18pm Jun 18, 2009 10:18pm
I noticed the price I have with my broker is off quite a bit from those posted by other. In my MT4 platform, I see the following ranges:

EU:
Pivot = 1.3927 slotted in between x_fibo 38.2 and 50.0
North:
.382=1.3976 cluster with x_fibo 76.4
.618=1.4007
1.0=1.4057, cluster with +38.2
South:
.382=1.3877 cluster with low of 2008-06-18
.618=1.3.846 cluster with -23.6
1.0=1.3797 cluster with -61.8

Main trend for today is up so I am thinking that it might reverse the yesterday drop and target 1 is m-fibo 0.382.

I only trade EU so I don't have the range for GU.
  • #520
  • Jun 19, 2009 9:07am Jun 19, 2009 9:07am
Quoting DOVOFreak
I noticed the price I have with my broker is off quite a bit from those posted by other. In my MT4 platform, I see the following ranges:

EU:
Pivot = 1.3927 slotted in between x_fibo 38.2 and 50.0
North:
.382=1.3976 cluster with x_fibo 76.4
.618=1.4007
1.0=1.4057, cluster with +38.2
South:
.382=1.3877 cluster with low of 2008-06-18
.618=1.3.846 cluster with -23.6
1.0=1.3797 cluster with -61.8

Main trend for today is up so I am thinking that it might reverse the yesterday drop and target 1 is m-fibo 0.382.

I only trade EU so I don't...
Nice job DOVO ... and thanks for posting the ranges .. nice call too man .. .... Currently in Jo'burg, SA but no jet lag .. ... Nice place though ...

Hey ams .. how are things man? ... I do know that the active users of this Katy thread are mostly working guys ... so let us all chip in whenever we can ....

So, Heidi ... and other traders should also contribute and post your calls .. that is how you will learn ... trust me I know ...

I can see a nice north flip from my MT4 here ... hope folks trading caught it ... It is important you keep interactive trading so that the new guys can be at speed too ... Am still here and looking at what is going on ....
"I am convinced that He (God) does not play dice." - Albert Einstein
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