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Simple & Consistent Fibbing Method

  • #101
  • Mar 8, 2010 5:03am Mar 8, 2010 5:03am
Quoting aswilled
drawn on the 15 min?
Yes on 15M.
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  • #102
  • Mar 8, 2010 5:09am Mar 8, 2010 5:09am
Quoting simoneg
Short 1.5139.
short 5142 to support. Struggling to get there. Now how do I view the intraday to see future targets? What levels am I watching for?
A. Finesse Williams Making Millions One Pip At A Time!
  • #103
  • Mar 8, 2010 5:16am Mar 8, 2010 5:16am
Quoting aswilled
short 5142 to support. Struggling to get there. Now how do I view the intraday to see future targets? What levels am I watching for?
Good Entry! Fib 1.5195 to 1.5128. Target levels are 1.5106 and 1.5092.
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  • #104
  • Mar 8, 2010 5:20am Mar 8, 2010 5:20am
Quoting simoneg
Good Entry! Fib 1.5195 to 1.5128. Target levels are 1.5106 and 1.5092.
Ok. Good. Thats the way I have it set up. So when price hits the intraday low we look to go short and vice versa for the high?
A. Finesse Williams Making Millions One Pip At A Time!
  • #105
  • Mar 8, 2010 5:29am Mar 8, 2010 5:29am
Quoting aswilled
Ok. Good. Thats the way I have it set up. So when price hits the intraday low we look to go short and vice versa for the high?
I'm going with 5106 because that is at support. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #106
  • Mar 8, 2010 5:30am Mar 8, 2010 5:30am
Quoting aswilled
Ok. Good. Thats the way I have it set up. So when price hits the intraday low we look to go short and vice versa for the high?
Well, you could do that, using the low as past support becoming future resistance and vice versa for highs. But what I do is adjust the fib, for example in this trade, down to previous lows to find the 50% breach level each time for entry. Which usually gives you lower risk entries.
The next major breach level, is our current intraday target. You can expect much pullback in this area.
http://img704.imageshack.us/img704/1107/gbp4.jpg
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  • #107
  • Mar 8, 2010 5:43am Mar 8, 2010 5:43am
Ok, will be off for a bit. So aswilled, there is a new low for the day, so we adjust our fibs accordingly to the low at 1.5120.
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  • #108
  • Mar 8, 2010 6:17am Mar 8, 2010 6:17am
Quoting simoneg
Ok, will be off for a bit. So aswilled, there is a new low for the day, so we adjust our fibs accordingly to the low at 1.5120.
ok. Thanks. See u during us session.
A. Finesse Williams Making Millions One Pip At A Time!
  • #109
  • Mar 8, 2010 7:27am Mar 8, 2010 7:27am
Ok. Our new low for the day is at 1.5112, so we adjust our intraday fib low to this level. New targets will be seen. Unable to do that, so can someone draw that fib from this morning's high to 1.5112 and and let me know the target prices at -34 and -55% please?

Thanks!
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  • #110
  • Mar 8, 2010 8:41am Mar 8, 2010 8:41am
Shorting 61.8 resistance at 1.5165, for 1.5000 or lower. Will clarify targets later.
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  • #111
  • Mar 8, 2010 8:58am Mar 8, 2010 8:58am
hi
-34% = 1,5084 -55%= -1,5066
  • #112
  • Mar 8, 2010 9:07am Mar 8, 2010 9:07am
Quoting simoneg
Ok. Our new low for the day is at 1.5112, so we adjust our intraday fib low to this level. New targets will be seen. Unable to do that, so can someone draw that fib from this morning's high to 1.5112 and and let me know the target prices at -34 and -55% please?

Thanks!
5083 and 5066.
A. Finesse Williams Making Millions One Pip At A Time!
  • #113
  • Mar 8, 2010 9:09am Mar 8, 2010 9:09am
Quoting simoneg
Shorting 61.8 resistance at 1.5165, for 1.5000 or lower. Will clarify targets later.
Nice entry.
A. Finesse Williams Making Millions One Pip At A Time!
  • #114
  • Mar 8, 2010 9:28am Mar 8, 2010 9:28am
Quoting beta
hi
-34% = 1,5084 -55%= -1,5066
Thank you beta! I will close current shorts around there!
Hero Traders Live to see their Accounts Die!
  • #115
  • Mar 8, 2010 9:28am Mar 8, 2010 9:28am
Quoting aswilled
Nice entry.

Thanks aswilled!
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  • #116
  • Mar 8, 2010 9:31am Mar 8, 2010 9:31am
Closed out shorts for +144pips. Going to be satisfied with that for today...+248pips!

Continue to trade safely!
Hero Traders Live to see their Accounts Die!
  • #117
  • Mar 8, 2010 9:43am Mar 8, 2010 9:43am
Quoting simoneg
Closed out shorts for +144pips. Going to be satisfied with that for today...+248pips!

Continue to trade safely!
Me 150. Nice trading.
A. Finesse Williams Making Millions One Pip At A Time!
  • #118
  • Mar 8, 2010 9:54am Mar 8, 2010 9:54am
Quoting aswilled
Me 150. Nice trading.
Thanks aswilled! Same to you. Suppose we can rest here and look back at 3:00am tomorrow. But I expect it to go into the 1.4900s. Will see, have a good one!
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  • #119
  • Edited 7:37pm Mar 8, 2010 11:36am | Edited 7:37pm
We presently have resistance at 1.5090-5 and 1.5115. These may be good areas for further shorting. The market fell to the 38.2%(1.5023) of the entire up move (1.4780 to 1.5194).

The 50% level of the swing is at 1.4987 and is strong support. If it breaks, we will most likely head for 1.4950 then 1.4860, which is the 19.1% support level of the entire up swing.

We also have a "3" on the Upward trendline that could lead to much buying from today's low (unable to show this now and it is void at this point).

See chart below Chart below
http://img189.imageshack.us/img189/5067/pic1qv.jpg
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  • #120
  • Mar 8, 2010 12:51pm Mar 8, 2010 12:51pm
Quoting simoneg
Thanks aswilled! Same to you. Suppose we can rest here and look back at 3:00am tomorrow. But I expect it to go into the 1.4900s. Will see, have a good one!
See you at three.
A. Finesse Williams Making Millions One Pip At A Time!
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