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Indicator Free Trading - Skunny

  • #5,821
  • Jan 25, 2010 6:16pm Jan 25, 2010 6:16pm
Quoting FX Compass
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).
we got 50 on both @1.6266-16275, is this a very strong set up?
  • #5,822
  • Jan 25, 2010 6:44pm Jan 25, 2010 6:44pm
Quoting wbh
we got 50 on both @1.6266-16275, is this a very strong set up?

As strong as they get : same Fib line on monthly and weekly candles is as strong as it comes for clusters.
  • #5,823
  • Jan 25, 2010 6:46pm Jan 25, 2010 6:46pm
thankyou
  • #5,824
  • Jan 25, 2010 6:46pm Jan 25, 2010 6:46pm
Quoting Misterdaz
Has she left Brad? I think it's about time you had an avatar old boy!
Yes, I've been rubbing my hands together since I heard... now If I can just work out how to get her to adopt me, I'll have a plan.
  • #5,825
  • Jan 25, 2010 6:53pm Jan 25, 2010 6:53pm
GBPUSD arriving at the 50 Fib cluster as predicted.
Expect a sharp reversal down once price starts moving away from this area.

EURUSD still has a little bit to go before it arrives.
  • #5,826
  • Jan 25, 2010 9:31pm Jan 25, 2010 9:31pm
Quoting FX Compass
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).
Would it be wise for me to draw fibs on month to month and week to week single candles and move them accordingly even if the 1.382 fib ext is not hit but on the daily only move my fibs when the 1.382 is hit. Or should I move them from day to day also? I know you said it doesn't matter but I was wondering that if I moved my fibs when the 1.382 fib ext is hit on the daily then is that what I should be doing on the weekly and monthly also. Just trying to make sure im doing it right?
  • #5,827
  • Jan 26, 2010 4:42am Jan 26, 2010 4:42am
Where can I get one of the crystal balls that give out those money making fib targets?
  • #5,828
  • Jan 26, 2010 5:44am Jan 26, 2010 5:44am
I wondered if you could shed any light on this, it's not working. I also think the EUR is dead for a while. Anyway this is only test so it's all part of the learning curve.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2601.png Size: 22 KB
Keep smiling
  • #5,829
  • Jan 26, 2010 6:40am Jan 26, 2010 6:40am
Quoting Checkz
Where can I get one of the crystal balls that give out those money making fib targets?
Did you sell the pound today?
Keep smiling
  • #5,830
  • Jan 26, 2010 7:02am Jan 26, 2010 7:02am
Quoting Misterdaz
Did you sell the pound today?
Yes sir I just exited my position with a 92 pip profit
  • #5,831
  • Jan 26, 2010 7:06am Jan 26, 2010 7:06am
My poor little currency. Well done Checkz. Did you trade through GDP like a nutter or did you wait until afterwards?
Keep smiling
  • #5,832
  • Jan 26, 2010 7:08am Jan 26, 2010 7:08am
Quoting Misterdaz
I wondered if you could shed any light on this, it's not working. I also think the EUR is dead for a while. Anyway this is only test so it's all part of the learning curve.

Attachment
When taking the long in the above post I should have been mindful of the prevailing trend and only risked small.

MD.
Keep smiling
  • #5,833
  • Jan 26, 2010 7:33am Jan 26, 2010 7:33am
Anyone watching this?
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.gif Size: 22 KB
  • #5,834
  • Jan 26, 2010 8:52am Jan 26, 2010 8:52am
Agreed BarTstop.

I think there are various places you can place a fib on cable at the moment and they all look downwardly mobile.

MD
Keep smiling
  • #5,835
  • Jan 26, 2010 8:55am Jan 26, 2010 8:55am
This chart tightens it all up a bit but tells the same story on the 4h.

Funnily enough, if we break 1.6080 we have a Compass fib on as well.

Attached Image (click to enlarge)
Click to Enlarge Name: cable4h.png Size: 13 KB


MD.
Keep smiling
  • #5,836
  • Jan 26, 2010 1:17pm Jan 26, 2010 1:17pm
Quoting Checkz
Where can I get one of the crystal balls that give out those money making fib targets?
Nice trade Checkz, I have the crystal balls on sale for $500,000 USD.

If you want one..

I am currently looking at something very interesting that makes the smaller timeframes 30M and hourly charts price action look crystal clear. I'll let you know how it pans out.
  • #5,837
  • Jan 26, 2010 1:25pm Jan 26, 2010 1:25pm
Quoting FX Compass
Nice trade Checkz, I have the crystal balls on sale for $500,000 USD.

If you want one..
If you have 100% financing, I'll take 2.
  • #5,838
  • Jan 26, 2010 2:20pm Jan 26, 2010 2:20pm
Why do Gypsies walk funny?
Keep smiling
  • #5,839
  • Jan 26, 2010 4:04pm Jan 26, 2010 4:04pm
Quoting FX Compass
Nice trade Checkz, I have the crystal balls on sale for $500,000 USD.

If you want one..

I am currently looking at something very interesting that makes the smaller timeframes 30M and hourly charts price action look crystal clear. I'll let you know how it pans out.
It's ticker tape isn't it?
Keep smiling
  • #5,840
  • Jan 26, 2010 4:34pm Jan 26, 2010 4:34pm
Quoting Misterdaz
Why do Gypsies walk funny?
Ah got it.
At the current exorbitant price of $500,000 USD each, you wouldnt want to crack em.

cheers scalpz
Target 2 : Stoploss in the green
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