Indicator Free Trading - Skunny | Page 291 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to free indicator resources? indicator called from EA 7 replies

COT trading system with free indicator 297 replies

No Free Lunch but all the Free Coffee you can drink 736 replies

SWAP free, rollover free Broker? 15 replies

Attachments: Indicator Free Trading - Skunny
Exit Attachments

Indicator Free Trading - Skunny

  • #5,801
  • Jan 25, 2010 7:18am Jan 25, 2010 7:18am
Quoting Misterdaz
Well chaps I haven't stuck to any particular plan today and in doing so cocked up my trading. I decided to go short eurusd earlier, I don't know why, it wasn't part of any particular method. I didn't like it so I chopped it for a small loss. I am now long from a fib I drew on recent price action but I've used respect of the 61.8 and 38.2 to validate it. I don't feel confident in this trade as I usually use respect of the 61.8 and 50. Maybe I shouldn't have hunted a trade and stood aside. I will see later as to how many lessons I have learnt today....
Long to 1.4220 then 0 line double tap is completed on monthly Fib.
The bigger timeframes are controlling this move.
  • #5,802
  • Jan 25, 2010 7:22am Jan 25, 2010 7:22am
Whats your take on the Gbp/Usd?
  • #5,803
  • Jan 25, 2010 7:22am Jan 25, 2010 7:22am
Quoting Checkz
Im Looking forward to trying your fib cluster method on the Gbp/Usd today. The chart you posted really cleared up a couple questions I had from a few years back when I first started trying to trade with fibs. I not going to saying that I got it down all the way or that I won't have anymore questions but I do feel that I am one step closer to a greater understanding of how to use this method for profit.
Go get some Checkz, GU behaving very Fibtastic today.
  • #5,804
  • Jan 25, 2010 7:24am Jan 25, 2010 7:24am
Quoting FX Compass
Long to 1.4220 then 0 line double tap is completed on monthly Fib.
The bigger timeframes are controlling this move.
Yes I would agree. Starting to wish I had stuck with my original short this morning.
Keep smiling
  • #5,805
  • Jan 25, 2010 7:27am Jan 25, 2010 7:27am
Quoting Checkz
Whats your take on the Gbp/Usd?
Also headed down, just waiting for EU to touch base, then down we go.
  • #5,806
  • Jan 25, 2010 7:33am Jan 25, 2010 7:33am
Quoting FX Compass
Also headed down, just waiting for EU to touch base, then down we go.
Thanks
  • #5,807
  • Jan 25, 2010 7:47am Jan 25, 2010 7:47am
Quoting Checkz
Thanks
EU in a hurry to head down, we may not see the second touch.

Although it has come very close already.
  • #5,808
  • Jan 25, 2010 8:36am Jan 25, 2010 8:36am
If I use your style Compass, I like the fibs moving on 138 completions. some of you like to move it daily without fail. Today would have been a topsy turvy day moving daily, see below.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 13 KB


Using what I prefer would have worked out better, today anyway.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd138.png Size: 13 KB


Again, I'm not pulling holes in your theory, just an observation of a man who is 44 points down and counting on EURUSD.

MD.
Keep smiling
  • #5,809
  • Edited 8:45am Jan 25, 2010 8:40am | Edited 8:45am
I tried to draw what looked like a fib cluster on the Gbp/Usd. Looks like I should look to sell at the .618 inner fib if it gets hit. Does this look right to you?
Attached Image (click to enlarge)
Click to Enlarge Name: New Chart.JPG Size: 79 KB
  • #5,810
  • Jan 25, 2010 9:21am Jan 25, 2010 9:21am
Quoting Checkz
I tried to draw what looked like a fib cluster on the Gbp/Usd. Looks like I should look to sell at the .618 inner fib if it gets hit. Does this look right to you?
Your red fibs on yesterday by the look of it, looks good. The Green on the last swing, ok. Cluster around 1.6200, watch you longs!
Keep smiling
  • #5,811
  • Jan 25, 2010 10:18am Jan 25, 2010 10:18am
Watch out for UK GDP tomorrow Checkz, I know you like trading through our figures.

MD.
Keep smiling
  • #5,812
  • Jan 25, 2010 11:10am Jan 25, 2010 11:10am
Cable was the one to buy today, and it had the setup I like, 61.8 then 50 and up for a pierce. I totally missed this.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd2501.png Size: 19 KB
Keep smiling
  • #5,813
  • Edited 12:05pm Jan 25, 2010 12:02pm | Edited 12:05pm
Would the blue line be the next place I should draw Fib using the Fib cluster method to find a profit target in line with the red set of fibs. If so im taking a sell profit at the 0 line of the red set of fibs.
Attached Image (click to enlarge)
Click to Enlarge Name: New Chart.JPG Size: 79 KB
  • #5,814
  • Edited 2:39pm Jan 25, 2010 2:24pm | Edited 2:39pm
Quoting Checkz
I tried to draw what looked like a fib cluster on the Gbp/Usd. Looks like I should look to sell at the .618 inner fib if it gets hit. Does this look right to you?
Hi Checkz,

Yes and no.

Fibs are clustered correctly, but at the moment you are blind to the Monthly and weekly cluster which will be far more accurate.

I always work from the top down in timeframes when clustering.

Try Fibbing the last monthly candle and the last weekly candle and then have a look at how things appear on the smaller timeframes.
By the way, this is a very interesting cluster for GBPUSD (not often seen).
  • #5,815
  • Jan 25, 2010 2:28pm Jan 25, 2010 2:28pm
Quoting Misterdaz
If I use your style Compass, I like the fibs moving on 138 completions. some of you like to move it daily without fail. Today would have been a topsy turvy day moving daily, see below.

Attachment

Using what I prefer would have worked out better, today anyway.

Attachment

Again, I'm not pulling holes in your theory, just an observation of a man who is 44 points down and counting on EURUSD.

MD.
EURUSD has been ranging all day, a good pair to stay away from in these conditions. Not every day is tradeable on every pair, and I am happy for my setup to keep me out of choppy/ranging pairs.
  • #5,816
  • Jan 25, 2010 3:18pm Jan 25, 2010 3:18pm
My previous post was not meant to offend, I do hope it didn't. Your method is rock solid. I was merely pointing out my preference. Ranging markets can be difficult no matter what the methodology.

I believe I've got some notes to write.
Keep smiling
  • #5,817
  • Jan 25, 2010 3:47pm Jan 25, 2010 3:47pm
Get your eyes off my Jessica!
Keep smiling
  • #5,818
  • Jan 25, 2010 4:13pm Jan 25, 2010 4:13pm
Quoting Misterdaz
Get your eyes off my Jessica!
I promise, I'm trying really hard.
Where's BarTstop ? Ever since you've got Jessica on, he's nowhere to be seen !
  • #5,819
  • Jan 25, 2010 5:54pm Jan 25, 2010 5:54pm
Quoting Misterdaz
My previous post was not meant to offend, I do hope it didn't. Your method is rock solid. I was merely pointing out my preference. Ranging markets can be difficult no matter what the methodology.

I believe I've got some notes to write.
No offence taken Md, I see Angelina is back on the market.

Could be a change of Avatar...
  • #5,820
  • Jan 25, 2010 5:56pm Jan 25, 2010 5:56pm
Has she left Brad? I think it's about time you had an avatar old boy!
Keep smiling
2 traders viewing now