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Simple & Consistent Fibbing Method

  • #81
  • Mar 6, 2010 2:26pm Mar 6, 2010 2:26pm
Quoting aswilled
Thanks. I found his info on FF, YouTube, and his site. I seen how to set up the fibs and how he used them. The only confusion is which fibs to use at what times. Like the Daily fib is to be drawn on the daily chart largest swing. Then there is the fibs for up or down trends. I don't understand how to set/use the range fib. and the intraday and its zones. I think we wait for price to enter the entry zone (38.2 - 61.8) and wait for it to break in any direction, targeting the target zones of the intraday? And do you move the intraday up and down the...
Hi aswilled, I only use these levels for: intraday fibbing, fibbing previous day, fibbing previous week and month. Yes the 38.2 is the short level and 61.8 is the long level. However, I use other methods (50% breach) to confirm entries. Yes, correct, Intraday fibs are adjusted to new highs and lows throughout the day.
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  • #82
  • Mar 6, 2010 2:32pm Mar 6, 2010 2:32pm
Quoting simoneg
http://img144.imageshack.us/img144/9131/15mother.jpg
Nice resistance at the figure. Tell me, why do you have the 50% and 78.6% in your fib extensions? Also, is that the intraday fibo you are using there?
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  • #83
  • Edited 2:48pm Mar 6, 2010 2:37pm | Edited 2:48pm
Quoting aswilled
Nice resistance at the figure. Tell me, why do you have the 50% and 78.6% in your fib extensions? Also, is that the intraday fibo you are using there?
Thanks aswilled! No this is not the intraday fib. It is a regular fib of the ABC or 123 swing. A being 1.4853 and B being 1.5136. These swings are fibbed from A to B or 1 to 2. I used this fib to see if the D extension converges with our intraday fib targets.
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  • #84
  • Mar 6, 2010 5:31pm Mar 6, 2010 5:31pm
http://img194.imageshack.us/img194/8530/finalhi.jpg

Let us see how the week unfolds.
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  • #85
  • Mar 8, 2010 2:41am Mar 8, 2010 2:41am
Watching 80.9(1.5180) or there about for short, first to 1.5093. Otherwise 1.5230.

http://img269.imageshack.us/img269/9272/gbpmar8.jpg
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  • #86
  • Mar 8, 2010 3:03am Mar 8, 2010 3:03am
1.5190 looks like a good area to go short. Signs of weakness at our 1.5200 resistance.
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  • #87
  • Mar 8, 2010 3:22am Mar 8, 2010 3:22am
Even though, from our SHORT outlook, 1.5170 is our anticipated breach level. There is also strong support just below at 1.5165. Coupled with the fact that there is a 1 & 2 done the trend line of this up move, awaiting a 3, so it is important that this level be broken, should we get there, before adding any more positions.

http://img94.imageshack.us/img94/4386/gbp2.jpg
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  • #88
  • Mar 8, 2010 3:49am Mar 8, 2010 3:49am
Adjusting stops!
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  • #89
  • Mar 8, 2010 4:08am Mar 8, 2010 4:08am
Next Important breach level for us to add to our position 1.5150. We may see market going lower to 1.5050 today. Will adjust as day progresses.
(Off for the day)

http://img214.imageshack.us/img214/1813/gbp3.jpg
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  • #90
  • Mar 8, 2010 4:17am Mar 8, 2010 4:17am
Simon I just used the bobo fibs to make 30 easy pips in this ranging market. I really can see where the market could end up or turn. Of course all prior trading knowledge/experience was a major factor. But using the fibs in this manner is really great. I have to discipline myself not to ride the waves and stick to my trading practices. I guess what, I don't think I fully understand how to use them. Let see how more trades go.
A. Finesse Williams Making Millions One Pip At A Time!
  • #91
  • Mar 8, 2010 4:23am Mar 8, 2010 4:23am
Quoting simoneg
1.5190 looks like a good area to go short. Signs of weakness at our 1.5200 resistance.
Thats where I shorted it to. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #92
  • Mar 8, 2010 4:29am Mar 8, 2010 4:29am
Quoting aswilled
Simon I just used the bobo fibs to make 30 easy pips in this ranging market. I really can see where the market could end up or turn. Of course all prior trading knowledge/experience was a major factor. But using the fibs in this manner is really great. I have to discipline myself not to ride the waves and stick to my trading practices. I guess what, I don't think I fully understand how to use them. Let see how more trades go.
Great aswilled! It really does give a better guide. I am swinging it down at least to 1.5090 with 3 positions at 1.5190, 15179 and 1.5171. Seeking to add a fourth at or near 5150. Up 120 pips now! But trade as per your comfort. Good going!
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  • #93
  • Mar 8, 2010 4:37am Mar 8, 2010 4:37am
Watching reaction to today's low 1.5128, Needs to be broken for us to continue lower.
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  • #94
  • Mar 8, 2010 4:38am Mar 8, 2010 4:38am
Quoting simoneg
Great aswilled! It really does give a better guide. I am swinging it down at least to 1.5090 with 3 positions at 1.5190, 15179 and 1.5171. Seeking to add a fourth at or near 5150. Up 120 pips now! But trade as per your comfort. Good going!
Just gained another 30! Hit swing t1 and bounced. Which is also a strong support level.
A. Finesse Williams Making Millions One Pip At A Time!
  • #95
  • Mar 8, 2010 4:46am Mar 8, 2010 4:46am
Quoting aswilled
Just gained another 30! Hit swing t1 and bounced. Which is also a strong support level.
Nice ! I just closed for +104pips. Yes I agree with you, strong support here. As you continue to trade with the intraday fib, you will see safe take profit levels on each swing. Still watching 1.5150
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  • #96
  • Mar 8, 2010 4:50am Mar 8, 2010 4:50am
Quoting simoneg
Nice ! I just closed for +104pips. Yes I agree with you, strong support here. As you continue to trade with the intraday fib, you will see safe take profit levels on each swing. Still watching 1.5150
The intraday is the one drawn from the high/low of yesterday?
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  • #97
  • Mar 8, 2010 4:51am Mar 8, 2010 4:51am
Quoting aswilled
The intraday is the one drawn from the high/low of yesterday?
No it is the high and low of today, which keeps changing and giving new target levels.
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  • #98
  • Mar 8, 2010 5:00am Mar 8, 2010 5:00am
Quoting simoneg
No it is the high and low of today, which keeps changing and giving new target levels.
Thanks. Will adjust.
A. Finesse Williams Making Millions One Pip At A Time!
  • #99
  • Mar 8, 2010 5:01am Mar 8, 2010 5:01am
Quoting aswilled
Thanks. Will adjust.
drawn on the 15 min?
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  • #100
  • Mar 8, 2010 5:02am Mar 8, 2010 5:02am
Short 1.5139.
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