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  • #131,941
  • Aug 16, 2009 9:45pm Aug 16, 2009 9:45pm
Quoting Fly2
got the same TL's here and looking at same thing basically--hope it goes below that 4 he at aroung 150
...let's see how the Euro session can do to this pair later on...
  • #131,942
  • Aug 16, 2009 9:45pm Aug 16, 2009 9:45pm
bring it on
  • #131,943
  • Aug 16, 2009 9:46pm Aug 16, 2009 9:46pm
Quoting acumen
I'm only talking about opening gaps.

Look at today's start... headed south from the sound of the gun.

When that happens it creates a 'gap' in the pair.

This pair will close that gap a high percentage of the time.

I don't the real percentage... but it's better than my hit rate.

Mike

That's how I do it in the stock market

Do you have any excel numbers on this? like % wins and pips etc.
  • #131,944
  • Aug 16, 2009 9:48pm Aug 16, 2009 9:48pm
Quoting acumen
I'm only talking about opening gaps.

Look at today's start... headed south from the sound of the gun.

When that happens it creates a 'gap' in the pair.

This pair will close that gap a high percentage of the time.

I don't the real percentage... but it's better than my hit rate.

Mike
Thanks Mike,

Got it. I used to confuse opening gaps with something else.

Yes, agree. I remember, several weeks ago PA moved probably over a hundered pips on Friday to close the opening gap on the last day of the week. One poster here mentioned on Thursday (one day earlier) that if this not happens, would be first time in several years that an opening gap remains unfilled in a week. PA proved him/her right the next day by filling the gap.
The Thief of Wall Street
  • #131,945
  • Aug 16, 2009 9:50pm Aug 16, 2009 9:50pm
Quoting ssaqeel
GATO or anyonelse

Where can i find the study material to learn fibo numbers and to understand them ,any indicators will be helpful.

Thanks

I'd like to help get you started, if I may.....

First, I'd like to offer that you'll likely need to "unlearn" anything you might have
stuck in your head, because it will get in the way of letting new informaton in.

A fib is not a line in the sand where a pair will stop on a dime and bounce or reverse,
although it actually seems to do that SOME of the time. Don't get sucked in.
Fib retracements, that is, are somewhat self-fulfilling in that so many people watch them,
watch for a particular level to hit that when it does hit, order flow can make it appear
to be a more significant price level than it otherwise would be and voila, the fib appears validated.
A subsequent breach later in the session or next session will often cause much hair-pulling and gnashing of teeth.
So moral of this tale is not to make smaller TF fib retracements the foundation of a trading approach,
yet make it another measuring tool in your bag to use when warranted.

Now, fib extensions have a special place on my desk. 127's, 138's and 1618's are all over the place,
if you look for them, and again, they're another measuring tool in the bag, but I use them a bit more confidently
than the retracements levels......It's a preference based on the statistical probabilities, nothing more.

And one more thing. You'll find that differenct pairs like different fibs.

THIS IS IMPORTANT.

Learn which pairs like the .707's and which like the .764's
Which are prone to the .886 and which ones run common .786's over others.

This is advanced 101 fib study but bookmark it, save it, come back after 3 to 6 months
of hard-core investigation fibs relationships and it may make sense then....
Even though I know it may not help you now, others may be at different points along the journey
and it's as much for them as it is for you too! BTW: I'm always learning too....Can never stop !

You have my wishes of best of luck to you. Good trading.
  • #131,946
  • Aug 16, 2009 9:51pm Aug 16, 2009 9:51pm
Quoting acumen
I think number is absurd.

If you are new and trading real capital... try .05%.

If you are new to forex and trading real capital... let me give you a place where you can wire me your funds... I'll be taking them soon anyhow.

m
I agree, but I trade mechanical... So I have a plan for when to leave the plan as well, lets say that is a 200 pip drawdown... Everything over 200 pips is "salary" for that plan...
  • #131,947
  • Aug 16, 2009 9:54pm Aug 16, 2009 9:54pm
Quoting acumen
I must have liked something you posted.

I don't welcome a lot of people.

Most I just say... thanks for your patronage.

I don't know for sure, but it was something like---Oh $hit what am I doing

No really that was back when you and others posted charts with some idea of how you planed to trade. I was a lurker and joined simply to thank you and others posting here.

I know its just a faze but I really hate the fact that so many of the old guys have gone. Maybe soon this bunch will start to come up with real market plans (enter at X because of Y)

Good luck M
  • #131,948
  • Aug 16, 2009 9:57pm Aug 16, 2009 9:57pm
.My fibs always work for me!
  • #131,949
  • Aug 16, 2009 9:57pm Aug 16, 2009 9:57pm
Quoting Larseg
That's how I do it in the stock market

Do you have any excel numbers on this? like % wins and pips etc.
Not a quant... just have a very good chart memory

m
  • #131,950
  • Aug 16, 2009 10:00pm Aug 16, 2009 10:00pm
Quoting knuckledrag
You can get all the the red a$$ed with me you want. I can't go back that far but 1283 posts back you welcomed me.

We may now be looking at your turn to the pivot. We should know in the next hour.

Later M, you really have been a help

The time is now
  • #131,951
  • Aug 16, 2009 10:04pm Aug 16, 2009 10:04pm
.
  • #131,952
  • Aug 16, 2009 10:06pm Aug 16, 2009 10:06pm
Quoting Fly2
.My fibs always work for me!
what is ur fibo range?
  • #131,953
  • Aug 16, 2009 10:24pm Aug 16, 2009 10:24pm
Quoting siobi
what is ur fibo range?
I have a few depending if I'm trading for a retrace /scalp or 15 min style.I use a few to find my profit targets for short term /longer term.But fibs aren't all I go by but they do seem to get my pips where I want to though
  • #131,954
  • Aug 16, 2009 10:29pm Aug 16, 2009 10:29pm
Quoting gatorinla
lets c is 4160 s/r holds.. its an entry.. the question is what direction.. im holding my shorts .. trailing stop on kiwi and gu were hit..
my trailing stop took me out eu.. im up 11% at these trades close. i said 4160 because of what those numbers posted friday and this weekend told me.. we went as high just now as 63.. this was in fridays numbers.. we are still following the light blue numbers.. todays low comfirms it.. 4140 is the second to last number on the predicted low 4118.. .. just in front is some big numbers preventing this from happening..4133/35 (red/blue) area.. are bigger tf so the players are bigger..its another wall that still has to be tested.. just like 53 was last week... so im out till this level is taken out.. and depending on how pair acts i may wait till below 4085... but as always if i see something i like i will enter.. the way it acts hitting numbers tells the story believe it or not.. were still in the pasture.. we aint in the woods yet..but it looks good..
those who can, do. those who cant, talk about those who can
  • #131,955
  • Aug 16, 2009 10:31pm Aug 16, 2009 10:31pm
Quoting Chicky
Thanks Mike,

Got it. I used to confuse opening gaps with something else.

Yes, agree. I remember, several weeks ago PA moved probably over a hundered pips on Friday to close the opening gap on the last day of the week. One poster here mentioned on Thursday (one day earlier) that if this not happens, would be first time in several years that an opening gap remains unfilled in a week. PA proved him/her right the next day by filling the gap.
Interesting. I know the gap usually closes, but thought it was something that would happen that very day of the open. I never knew that "years" have passed without a week having the gap filled. Now, does the gap have to fill completely? For instance, this week the gap started filling up from a spread of 30 pips, but came up 10 pips short of doing so. Is that good enough for a gap fill or does that mean there is a good chance of it getting to .4203 (friday's close) by weeks end?
  • #131,956
  • Aug 16, 2009 10:33pm Aug 16, 2009 10:33pm
Happy pipping
  • #131,957
  • Aug 16, 2009 10:33pm Aug 16, 2009 10:33pm
Quoting gatorinla
my trailing stop took me out eu.. im up 11% at these trades close. i said 4160 because of what those numbers posted friday and this weekend told me.. we went as high just now as 63.. this was in fridays numbers.. we are still following the light blue numbers.. todays low comfirms it.. 4140 is the second to last number on the predicted low 4118.. .. just in front is some big numbers preventing this from happening..4133/35 (red/blue) area.. are bigger tf so the players are bigger..its another wall that still has to be tested.. just like 53 was last...
yep we are at a fine line right now
  • #131,958
  • Aug 16, 2009 10:35pm Aug 16, 2009 10:35pm
Quoting Fly2
yep we are at a fine line right now
But I'm still short and aiming for it atm till I decide different
  • #131,959
  • Aug 16, 2009 10:37pm Aug 16, 2009 10:37pm
Quoting acumen
Most I just say... thanks for your patronage.

...and leave your pips at the door...

cuz we all know "pivots don't work.."



I know, I know... it's been months now but that little pi$$in match with Mr T still cracks me up at the oddest times, kind of like a joke that refuses to stop being funny no matter how many times you hear it.

For those who don't know or remember what I'm talking about, no worries... you didn't miss much.
FUBAR...
  • #131,960
  • Aug 16, 2009 10:39pm Aug 16, 2009 10:39pm
You know I'm watching this pair....and...I'm lookin' around at the PA on the other pairs.
It's Asia and it's Monday morning..... and they haven't quite wiped the sleep out of their eyes.
We're below the daily pivots on most everything (exception is dollar/canadian).

Me thinks the sellers are lurking about, just not showing their hand quite yet.
14100 is probably the river card for today, or could be 14070. If we see either of those,
I think the tone will be set and those reluctant shorts could inch their way out of the shallow water.

If not, a return to 142 handle would turn the pair back positive for the day and we start over.
14205 is a weekly Pivot, followed by 14222 on the Daily. I'm using NY 5PM for those keeping score....

Little bit of a double bottom there at the 14141. Possible 60's then 81...it's a midpoint.

That's about all I got right now. It's not much. Let's keep watching, shall we ?
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