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  • #157,161
  • Oct 29, 2009 6:10pm Oct 29, 2009 6:10pm
Quoting TheFisherman
galaxies OR shells OR human body are words. They are not proof of fib in nature. I asked proof.
what was the oct high for eu? i dont follow traditional thinking.. but this chart and levels have been posted before we breached 4646. but i could of posted this same level easily in march 2009..i cant tell you what way where going. but i can tell where we will rest. and probably at least retrace some..
__________________
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those who can, do. those who cant, talk about those who can
  • #157,162
  • Oct 29, 2009 6:14pm Oct 29, 2009 6:14pm
Quoting TheFisherman
galaxies OR shells OR human body are words. They are not proof of fib in nature. I asked proof.
look in da mirror hah there is yourproof, but dont bother...u cant understand something if u just dun want to...elliot wave has been working out very nicely and the fibs...of course its not my sole strategy but it is my core and other things fit nicely into it
  • #157,163
  • Oct 29, 2009 6:19pm Oct 29, 2009 6:19pm
Quoting TheFisherman
galaxies OR shells OR human body are words. They are not proof of fib in nature. I asked proof.

Nothing works or you could program a computer to do it. Do you see anything on this one you could build a trade off of. Its a matter of probability not fact. Fibs are percentages that get respected and I don't give a crap why. My job is just to move with the market and not do something stupid. (like going short below the 50% mark. If I'm not in by then---same on me)

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  • #157,164
  • Oct 29, 2009 6:20pm Oct 29, 2009 6:20pm
Quoting ledobedo
look in da mirror hah there is yourproof, but dont bother...u cant understand something if u just dun want to...elliot wave has been working out very nicely and the fibs...of course its not my sole strategy but it is my core and other things fit nicely into it
Right. I'm the one that doesn't understand. I guess because I'm an engineer. Proof for an engineer probably means more than words thrown around for others.

Gator, I still don't get the connection between the two numbers...
  • #157,165
  • Oct 29, 2009 6:23pm Oct 29, 2009 6:23pm
Hi guys i wanted to share something i am working on maybe you may find it interesting feel free to let me know your opinions/thoughts. I have been doing a lot of hand drawing of charts lately and it has definately improved my trading, also working manly off of h4 chart has helped a lot also.

1 dot-major high or low
2 dots -second high or low
EP energy point-where trend lines come together and act as a vortex or energy hole
ABCD- where price begins and ends a swing

Thanks in advance for your input.

I attached todays but here is a link also for the one i drew 2 days ago.

http://i127.photobucket.com/albums/p...dhd-102709.jpg
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #157,166
  • Oct 29, 2009 6:27pm Oct 29, 2009 6:27pm
fish next to my signature i have this post 142435

http://cdn.forexfactory.com/images/misc/progress.gifclick it.. there you will see no changes to this post since it was first written. now take the 2 numbers i posted there, exclude the 50% and the double top number. those numbers are 4854 and 4646..... now subtract 4646 from 4854 and you get 208 then add 208 to 4854 .... i get 5062... the exact number my chart said is the chart oct. high so far....

those who can, do. those who cant, talk about those who can
  • #157,167
  • Oct 29, 2009 6:31pm Oct 29, 2009 6:31pm
Quoting TheFisherman
Right. I'm the one that doesn't understand. I guess because I'm an engineer.
Gator, I still don't get the connection between the two numbers...
not saying u dont understand saying u dun want to..i m sure being an engeneer makes u intelligents and a good trader, meant without irony, but maybe a little open mind wudnt hurt...u never know, might make u a better trader...one more tool kit un ur engineer bag...on that note try look how the pyramids were build...if i remember right the height is 1.618 of the base lenght.,go to egypt for proof..coincidence maybe...way of life..maybe..who knows..surely not u and surely not me
  • #157,168
  • Oct 29, 2009 6:36pm Oct 29, 2009 6:36pm
Quoting gatorinla
if people are following fibs and placing trades according to fibs. it becomes reality..

The funny thing about traders talking about fibo lines is when some say they don't work. Unfortunately, it is the traders understanding of current market price action that is not working. Fibo lines don't always get drawn from the high/low on whatever time frame being viewed. There are many times price anomolies or pivotal points that warrant being used. It is the action between these pivotal points that the market is respecting.

The market is ALWAYS correct. It is traders understanding of the market that is many times wrong.
"Timing Is Everything. Really I Swear It Is"
  • #157,169
  • Oct 29, 2009 6:43pm Oct 29, 2009 6:43pm
Quoting gatorinla
fish next to my signature...click it.. there you will see no changes to this post since it was first written. now take the 2 numbers i posted there, exclude the 50% and the double top number. those numbers are 4854 and 4646..... now subtract 4646 from 4854 and you get 208 then add 208 to 4854 .... i get 5062... the exact number my chart said is the chart oct. high so far...
Coincidence

I don't know you guys, but sometimes after traders "finally" decide to analyze the structure of forex marketS, how it really works, what systems it is based on, and what really moves the market, they usually look back and say " what the hell was i thinking using some indicators and trading like that"

Meybe u guys already know detailed structure, thought it's hard to find on internet, if I find my files, I'll attach some of them!

About fibs, i even knew some guys who were trading whipsaws of fibs linesI tested thousands of forex strategies, but never figure out how do they do it
Have fun!
  • #157,170
  • Oct 29, 2009 6:44pm Oct 29, 2009 6:44pm
Quoting TexasforEX
The funny thing about traders talking about fibo lines is when some say they don't work. Unfortunately, it is the traders understanding of current market price action that is not working. Fibo lines don't always get drawn from the high/low on whatever time frame being viewed. There are many times price anomolies or pivotal points that warrant being used. It is the action between these pivotal points that the market is respecting.

The market is ALWAYS correct. It is traders understanding of the market that is many times wrong.
Goddamnit! I'm losing my patience . Fine, have it your way: fibs do work. It's not that "I don't understand PA" it's the pure fact that PA has nothing to do with fibs. It works sometimes by pure chance. Sure there can be some trading strategies that work using fibs. All I'm saying is that IMHO those strategies work as well by not using fibs. Here, take the graph below. I'm sure you'd be able to find some fibs working there. And if you want I can throw in some dozen more just to make you fib guys busy. The truth is, that graph is random generated.
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  • #157,171
  • Oct 29, 2009 6:45pm Oct 29, 2009 6:45pm
Quoting TheFisherman
Right. I'm the one that doesn't understand. I guess because I'm an engineer. Proof for an engineer probably means more than words thrown around for others.

Gator, I still don't get the connection between the two numbers...
ok.. ill drop it.. i was curious of how a honey bee could fly..or better yet a bumble bee.
those who can, do. those who cant, talk about those who can
  • #157,172
  • Oct 29, 2009 6:52pm Oct 29, 2009 6:52pm
Quoting TheFisherman
Correct me if I'm wrong but this resuming of the bull trend seems to have started from no apparent S line... Something fishy about it.
IMHO.
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  • #157,173
  • Oct 29, 2009 6:52pm Oct 29, 2009 6:52pm
Quoting TexasforEX
The funny thing about traders talking about fibo lines is when some say they don't work. Unfortunately, it is the traders understanding of current market price action that is not working. Fibo lines don't always get drawn from the high/low on whatever time frame being viewed. There are many times price anomolies or pivotal points that warrant being used. It is the action between these pivotal points that the market is respecting.

The market is ALWAYS correct. It is traders understanding of the market that is many times wrong.
I agree with Gator, If I have one billion dollars to trade, would try to buy/sell at the best price, then at the next best price, then .............. until my buying/selling is complete. Though I would have an idea about my average price target, but would still need some measure for my entries and exits - this is where I would use technicals or historical high/low price levels.

ps. Since I don't have this kind of money, don't use fibs.
The Thief of Wall Street
  • #157,174
  • Oct 29, 2009 6:55pm Oct 29, 2009 6:55pm
hey meta guros... is there a way to make duplicate diag (trendlines) without drawing each one at a time?
those who can, do. those who cant, talk about those who can
  • #157,175
  • Oct 29, 2009 6:55pm Oct 29, 2009 6:55pm
Quoting TheFisherman
Goddamnit! I'm losing my patience . Fine, have it your way: fibs do work. It's not that "I don't understand PA" it's the pure fact that PA has nothing to do with fibs. It works sometimes by pure chance. Sure there can be some trading strategies that work using fibs. All I'm saying is that IMHO those strategies work as well by not using fibs. Here, take the graph below. I'm sure you'd be able to find some fibs working there. And if you want I can throw in some dozen more just to make you fib guys busy. The truth is, that graph is random generated....

LOL. I can not think of any "system" that works using anything in forex. There is no system.

Personally, I always highlight key levels and draw fibs from those. Lately, in euroland the fibs have actually been really easy. Key resistance levels becoming support. It has happened a couple times on the way up (1.3740 & 1.4450 come to mind). very obvious if you know what to look for.

I like to draw fibs when a leg finishes and maybe from a previous leg and just leave them on a chart. it is amazing when a move hits a fib like a brick wall. Now, could I have predicted that this perticular fib would be the one? No friggin way. but when the fibs are already there, trades can sometimes fall into your lap. More importantly, a better understanding of price action is achieved. All imvho.
"Timing Is Everything. Really I Swear It Is"
  • #157,176
  • Oct 29, 2009 6:57pm Oct 29, 2009 6:57pm
I know this is a dumb question but perhaps one of you can help me. I shorted this thing at 4693. I thought I set SL but come to find I didn't. I know that's a major major mistake. Couldn't get to the computer until now. Now I find myself 150 pips in the hole. that's 15% of my account, not a terribly big account but enough to make me sweat. Hmmm...

I'm already kicking myself.

Thanks.
  • #157,177
  • Oct 29, 2009 6:57pm Oct 29, 2009 6:57pm
Quoting ledobedo
not saying u dont understand saying u dun want to..i m sure being an engeneer makes u intelligents and a good trader, meant without irony, but maybe a little open mind wudnt hurt...u never know, might make u a better trader...one more tool kit un ur engineer bag...on that note try look how the pyramids were build...if i remember right the height is 1.618 of the base lenght.,go to egypt for proof..coincidence maybe...way of life..maybe..who knows..surely not u and surely not me
thank you man. probably why i reject fibs is because in my education there's no such thing as 'a golden number'. Just pure reasoning based on scientific facts and measurements and sweat by doing calculations. About that pyramid: indeed intriguing but as far as I recall they are all kinds of sizes and dimensions and only to the end of the period they got to this ratios that most likely has something to do to the following factors: gravity on earth, rock weight, rock compression function of the used rocks (including compression break point).
  • #157,178
  • Oct 29, 2009 6:59pm Oct 29, 2009 6:59pm
Quoting TheLastCoke
IMHO.
Good one. It's a trendline and not an S level. Very good. THAT's what I was looking for. Now if I can only recall what trendlines means fundamentally wise...

Kidding. Good one. Bravo!
  • #157,179
  • Oct 29, 2009 7:04pm Oct 29, 2009 7:04pm
Quoting gatorinla
hey meta guros... is there a way to make duplicate diag (trendlines) without drawing each one at a time?
I just simply save the chart as a template and load it to a new chart.
  • #157,180
  • Oct 29, 2009 7:05pm Oct 29, 2009 7:05pm
Quoting TheLastCoke
IMHO.
Here is the support

ps. Also note pa near round numbers. That is why I mainly use round numbers.
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The Thief of Wall Street
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