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Simple & Consistent Fibbing Method

  • #41
  • Mar 3, 2010 7:26am Mar 3, 2010 7:26am
Short at 1.5046 stop at 1.5069.
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  • #42
  • Mar 3, 2010 7:31am Mar 3, 2010 7:31am
Position #2 at 1.5040. Watching for breach of 1.5020 to add third position.
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  • #43
  • Edited 8:21am Mar 3, 2010 8:05am | Edited 8:21am
And there goes the drawback of working and trading...stopped out for -62pips and my original buy soars on. Next trade!
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  • #44
  • Mar 3, 2010 8:40am Mar 3, 2010 8:40am
Short at 1.5100, awaiting fall to 1.5075.
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  • #45
  • Mar 3, 2010 9:07am Mar 3, 2010 9:07am
Short again at 1.5120, this is a 50% resistance level previously mentioned and completed target previously mentioned. This could lead to heavy selling. The interim targets are 1.5000 and 1.4980, but 50% support at 1.5075 must be broken.
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  • #46
  • Mar 3, 2010 4:34pm Mar 3, 2010 4:34pm
The last set of shorts taken on the GBP earlier today were closed for +77pips

http://img687.imageshack.us/img687/9...shortsmar3.jpg
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  • #47
  • Mar 3, 2010 5:26pm Mar 3, 2010 5:26pm
Hello Simoneg,

Do you have a soft copy of this strategy, I think am finding it quite interesting. If I may ask what is the risk reward ratio like
  • #48
  • Mar 3, 2010 5:42pm Mar 3, 2010 5:42pm
Any luck using this strategy having ur trading day starting like 5am EST

Quoting simoneg
[b]Hi All,

I would like to share my trading method with you all. It is very simple, consistent and profitable. I trade on a 15M chart and monitor trends on H1, H4 and Daily. Constructive feedback ONLY!

I use fibonacci and give credit to one aspect of this method to Bobokus.

1.
I like to begin my trading day at 3:00am EST and find setups 20 to 30 minutes after that, closer to when the 4am candle is preparing to close.

2.
I use three sets of Fibs:

Fib A -...
  • #49
  • Mar 3, 2010 5:54pm Mar 3, 2010 5:54pm
Firstly, If the fibonacci ratio is 1.618, where are you getting 134 and 155 levels, What is the calculation?

Secondly if you are measuring your fibonacci from high to low, that makes sense in a downtrend, why would you measure your fibonacci from high to low in a uptrend, isnt it the other way around?

Quoting simoneg
Hi All,

I would like to share my trading method with you all. It is very simple, consistent and profitable. I trade on a 15M chart and monitor trends on H1, H4 and Daily. Constructive feedback ONLY!

I use fibonacci and give credit to one aspect of this method to Bobokus.

1.
I like to begin my trading day at 3:00am EST and find setups 20 to 30 minutes after that, closer to when the 4am candle is preparing to close.

2.
I use three sets of Fibs:...
  • #50
  • Mar 3, 2010 5:57pm Mar 3, 2010 5:57pm
Your diagram is kind of clumsy & doesnt make a lot of sense 2 me. Could u draw 1 fib @ a tym, explaining how & why u drew it. Its gonna make more sense than u drawing 2 or 3 fibs together.

Quoting simoneg
The chart below shows interim target fib (Fib A) drawn on January 28th's high and low of the day as at 3:15am EST. Interim Bull Targets are shown at 1.6310 and 1.6333 and Bear Targets at 1.6134 and 16111.

100% - High of the Day
0% - Low of the Day

http://img72.imageshack.us/img72/1328/fibai.jpg
  • #51
  • Mar 4, 2010 2:49am Mar 4, 2010 2:49am
Quoting chirpy
Your diagram is kind of clumsy & doesnt make a lot of sense 2 me. Could u draw 1 fib @ a tym, explaining how & why u drew it. Its gonna make more sense than u drawing 2 or 3 fibs together.
Ok Chirpy, point taken. Will take some time to improve the charts between today and the weekend. Thanks for your feedback!
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  • #52
  • Mar 4, 2010 3:36am Mar 4, 2010 3:36am
Long EUR/USD and GBP/USD charts following.
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  • #53
  • Mar 4, 2010 3:41am Mar 4, 2010 3:41am
http://img230.imageshack.us/img230/207/eurmar4.jpg
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  • #54
  • Mar 4, 2010 3:43am Mar 4, 2010 3:43am
Rushing out will update later
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  • #55
  • Edited 6:44am Mar 4, 2010 6:28am | Edited 6:44am
CURRENT TRADES

I really am going to make an effort to make some time and post better setups. The GBP Long should take us to 1.5200 or a little above. I will post the associated charts for this trade this evening.

The EUR/USD long setup is still valid for 1.3800-1.3815.
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  • #56
  • Mar 4, 2010 6:53am Mar 4, 2010 6:53am
Quoting simoneg
CURRENT TRADES

I really am going to make an effort to make some time and post better setups. The GBP Long should take us to 1.5200 or a little above. I will post the associated charts for this trader this evening.

The EUR/USD long setup is still valid for 1.3800-1.3815.
Hello Simoneg,
Shared the same Stream at some time or the other it Seems . Good that you can share.

It must be rather taxing to maintain all the writings seen here. May I suggests the use of Screen shots as well may hell with the transfer of knowledge faster. Ensure though that NONE of your personals gets captured, though as there is both good and others within the halls.

Will drop by again and be comforted knowing that it is truly more blessed to give than receive. May the actual moving (trends) both agree with your positions and be you friend...

be encouraged : http://www.prayerfoundation.org/moth..._it_anyway.htm

so Whenever I/we seek to do good, I/we will do good.

Bless
TGBTG...Always!
  • #57
  • Mar 4, 2010 6:59am Mar 4, 2010 6:59am
Quoting pathumracled
Hello Simoneg,
[color=black][font=Verdana]Shared the same Stream at some time or the other it Seems ....
Thank you pathumracled! Much appreciated! It is indeed taxing. Thanks for the advice. My GBP is at breakeven at this point! Will see how they go.

Thanks again!
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  • #58
  • Mar 4, 2010 7:16am Mar 4, 2010 7:16am
Greed, Greed! Allowed my +56pips on GBP to return to BE.
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  • #59
  • Mar 4, 2010 8:01am Mar 4, 2010 8:01am
Quoting Kambooj
Firstly, If the fibonacci ratio is 1.618, where are you getting 134 and 155 levels, What is the calculation?

Secondly if you are measuring your fibonacci from high to low, that makes sense in a downtrend, why would you measure your fibonacci from high to low in a uptrend, isnt it the other way around?
Hi Kambooj,

Sorry I just saw your questions. I had mentioned that some aspects of this method are derived from the Bobokus thread.
The principle of fibbing from high to low at ALL times is the the levels will always have the same meaning. For example, 80.9 will always be the resistance of the swing and 19.1 the support. The details of the -34,-55, 134 & 155 are explained in the Bobokus thread.
Hope I have answered your questions.
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  • #60
  • Edited 8:20am Mar 4, 2010 8:10am | Edited 8:20am
Closed EUR trade with -13pips. Short GBP @ 1.5064 TP 1.4970. This is at yesterday's 50% level which was breached by the 10:30am EST candle. Tight stop here due to higher low created at 10:30am. For those who are following, I will be spending the next couple of days to organize my time and previously posted charts, so that this effort can be more fruitful.
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