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Attachments: 0400-0700 GMT Breakout Strategy
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0400-0700 GMT Breakout Strategy

  • #481
  • Aug 2, 2009 8:58pm Aug 2, 2009 8:58pm
Quoting forexisfx
a very simple question would answer whether it's holy grail.

Does "i-IntradayFibonacci" repaint/expand after the first dot is drawn on 00:00 GMT ?

Yes, it redraw = Not Holy grail

No, it remain the same all day = Holy grail
I hope it is the 2nd one. But this shouldn't repaint though, fibs itself don't repaint.
  • #482
  • Aug 2, 2009 9:00pm Aug 2, 2009 9:00pm
Quoting forexisfx
my trading simulator shows it does not move. Ok try this right now.

Take down the price which the 4 line is been drawn right now. Check tomorrow whether the price is still the same.

Continue to do this if it's the same for a couple of days. If it's all the same, you have to plan to buy a house/car/etc soon.

btw, my chance of being wrong is 95%

I am planning to pay off my mortgage sooner then 25 years
  • #483
  • Aug 2, 2009 9:03pm Aug 2, 2009 9:03pm
I am documenting here the prices for all 4 lines for g/j, the 1st line from the lowest is 152.388, 158.413, 158.553, 158.639.
  • #484
  • Aug 2, 2009 9:04pm Aug 2, 2009 9:04pm
Quoting fed
genius75 where did you get this indicator from? may be we should ask this question there.
there is a website link on the code
  • #485
  • Aug 2, 2009 9:05pm Aug 2, 2009 9:05pm
if this doesn't work, I am also platting fibs to the prev high and low and stuying some price action now. Lets see how that goes.
  • #486
  • Aug 2, 2009 9:06pm Aug 2, 2009 9:06pm
Quoting fed
if this doesn't work, I am also platting fibs to the prev high and low and stuying some price action now. Lets see how that goes.
ok verified. It redraws/expand [big time].

Back to the drawing board.

P.S Expected to be wrong since 95% is hard to miss.
  • #487
  • Aug 2, 2009 9:07pm Aug 2, 2009 9:07pm
Quoting forexisfx
there is a website link on the code
ahh yess thanks, I don't usually look at codes. http://www.kimiv.ru it is all russain,
  • #488
  • Aug 2, 2009 9:24pm Aug 2, 2009 9:24pm
Quoting forexisfx
ok verified. It redraws/expand [big time].

Back to the drawing board.

P.S Expected to be wrong since 95% is hard to miss.
which pair got expanded? mine are still the same, I refreshed, restarted metatrader and still the same
  • #489
  • Aug 2, 2009 9:57pm Aug 2, 2009 9:57pm
yes i marked the lines on the GBPJPY and they still haven't changed at all? And i have similar values to what Fed has?
I hope it doesn't change! Too good to be true?????
  • #490
  • Aug 2, 2009 10:07pm Aug 2, 2009 10:07pm
Quoting iansr1
yes i marked the lines on the GBPJPY and they still haven't changed at all? And i have similar values to what Fed has?
I hope it doesn't change! Too good to be true?????
if they change then I have found another way with fibs, works very well.

But really I was expecting the lines to expand just like the last weeks.

I remember I have studied similar price action a year and half ago but I didn't understood and gave up and here I am with it again but this time I can understand.
  • #491
  • Aug 2, 2009 10:19pm Aug 2, 2009 10:19pm
Quoting fed
which pair got expanded? mine are still the same, I refreshed, restarted metatrader and still the same
EURUSD. The expansion is caused by the new low.
  • #492
  • Aug 2, 2009 10:25pm Aug 2, 2009 10:25pm
Quoting forexisfx
EURUSD. The expansion is caused by the new low.
thats ok, wait till I show you the one with fibs, same kind of style but different levels, and fibs won't repaint.
  • #493
  • Aug 2, 2009 10:32pm Aug 2, 2009 10:32pm
I am doing some back testing, with in an hour I will post the new one and we can start practising it starting tomorrow night at 00:00 GMT. Needs some practise and it will become easy, I am also using stocastics to show me the orverbought and oversold and gets easier what the price will do.
  • #494
  • Aug 2, 2009 10:58pm Aug 2, 2009 10:58pm
Can't wait...still biting my nails! LOL
  • #495
  • Aug 2, 2009 11:10pm Aug 2, 2009 11:10pm
Hi fellow traders,

Phew! you were so close to discovering the holy grail Well, no worries there is always an alternative, but there is no 100% in the world of probability.

Alright, I've been trading the same box as fed's rules even before the creation of this thread & sometimes I trade the brakout of "just" candle 05:00GMT on smaller time frames. Anyway excellent job Mr. fed


Now, until fed come up with his alternative solution I'd like to help and post my rules, it's so easy and simple just add the indicators to the chart and backtest it visually. Here goes:

1- Add EMA-90 or SMA-50 and enter long when the price breaks north above the MA, and enter short when the price breaks south below the MA. (why the specified MA?! simply cuz I use them, so find your best MA if none suits you).

2- Special case: i.e. what if the the price breaks north below the MA?? (which usually happens at reversals)---> Add RSI period 13 with level 50 and trade this kind of BO if the RSI confirms by crossing up level 50 and vise versa.


P.S. I trade the 1Hour but I think it's applicable for smaller TF.

Enjoy it guys & happy trading.
Sniffing Snake's Tracks...
  • #496
  • Aug 2, 2009 11:27pm Aug 2, 2009 11:27pm
Thank you for this ~
do you have any graph for us for easy reference ?


Quoting FX.Sniffer
Hi fellow traders,

Phew! you were so close to discovering the holy grail Well, no worries there is always an alternative, but there is no 100% in the world of probability.

Alright, I've been trading the same box as fed's rules even before the creation of this thread & sometimes I trade the brakout of "just" candle 05:00GMT on smaller time frames.[color=RoyalBlue] Anyway excellent job Mr. fed


Now, until fed come up with his alternative solution I'd like to help and post my...
  • #497
  • Aug 2, 2009 11:30pm Aug 2, 2009 11:30pm
Quoting FX.Sniffer
Hi fellow traders,

Phew! you were so close to discovering the holy grail Well, no worries there is always an alternative, but there is no 100% in the world of probability.

Alright, I've been trading the same box as fed's rules even before the creation of this thread & sometimes I trade the brakout of "just" candle 05:00GMT on smaller time frames. Anyway excellent job Mr. fed


[color=royalblue]Now,...
Two questions:
1. What is BO?
2. Did you do backtest by manually open trade?
Simple is powerful all the time.
  • #498
  • Aug 3, 2009 12:03am Aug 3, 2009 12:03am
Quoting RiverTrader
Two questions:
1. What is BO?
2. Did you do backtest by manually open trade?
I think BO means break out.
  • #499
  • Aug 3, 2009 12:04am Aug 3, 2009 12:04am
Quoting FX.Sniffer
Hi fellow traders,

Phew! you were so close to discovering the holy grail Well, no worries there is always an alternative, but there is no 100% in the world of probability.

Alright, I've been trading the same box as fed's rules even before the creation of this thread & sometimes I trade the brakout of "just" candle 05:00GMT on smaller time frames. Anyway excellent job Mr. fed


[color=royalblue]Now,...
Thanks I will try it as soon as possible, I am still busy with the fibs breakout.
  • #500
  • Aug 3, 2009 12:12am Aug 3, 2009 12:12am
Come on guys, we all know there is no such thing as a holy grail.

I use Fib numbers on the daily charts to help to figure out when the move might be dying, if the trade bounces of a fib number it generally means its over, but if it breaks there is a good chance it will head straight for the second fib number.

Fed your strategy is working well for ur entries and exits, but mayb you should just use Fibs for looking at different exit levels not entry levels. Or why even change it at all?
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