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Simple & Consistent Fibbing Method

  • #261
  • Mar 10, 2010 11:00am Mar 10, 2010 11:00am
I'm still holding my longs.
1.4930, 1.4960
  • #262
  • Mar 10, 2010 11:03am Mar 10, 2010 11:03am
Quoting exposer
I'm still holding my longs.
1.4930, 1.4960
Me too
Hero Traders Live to see their Accounts Die!
  • #263
  • Mar 10, 2010 12:46pm Mar 10, 2010 12:46pm
Another Long off 1.4942, 50% breach level from swing of 1.5014 to 1.4872.
Hero Traders Live to see their Accounts Die!
  • #264
  • Mar 10, 2010 2:06pm Mar 10, 2010 2:06pm
Closing all positions now...too many signs of weakness or need for pullback! +85 pips today

Have a good day all!
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  • #265
  • Mar 10, 2010 2:11pm Mar 10, 2010 2:11pm
I am compiling a PDF document of this method and will post a link to it as soon as it is ready!
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  • #266
  • Mar 10, 2010 2:16pm Mar 10, 2010 2:16pm
Quoting simoneg
I am compiling a PDF document of this method and will post a link to it as soon as it is ready!
that would be awesome!
Quick question: if you trade starting at 3:15 am, when do you sleep?!
  • #267
  • Mar 10, 2010 2:21pm Mar 10, 2010 2:21pm
Quoting Vark
that would be awesome!
Quick question: if you trade starting at 3:15 am, when do you sleep?!
Yes Vark! Trying to make sure everybody understands. When do I sleep ?

I am in bed at 7-8pm latest and up for trading at 3:00am for 3 days of the week. So I rest 1 day and use another to trade the US session which is later.

The body gets adjusted!
Hero Traders Live to see their Accounts Die!
  • #268
  • Mar 10, 2010 2:31pm Mar 10, 2010 2:31pm
Quoting simoneg
Yes Vark! Trying to make sure everybody understands. When do I sleep ?

I am in bed at 7-8pm latest and up for trading at 3:00am for 3 days of the week. So I rest 1 day and use another to trade the US session which is later.

The body gets adjusted!
I remember seeing in the beginning of your thread, that your method can be used at any time, but you prefer the 3;15 start because of the major trends. How is the US session trading? That would be my ideal time - drop kids off to school and 8am-4pm, plus I can catch a London and NY sessions overlap from 8-12. Later in the evening I usually have more time from 9-1am.
What do you think and if you have experience with those hours?
  • #269
  • Mar 10, 2010 2:40pm Mar 10, 2010 2:40pm
Quoting Vark
I remember seeing in the beginning of your thread, that your method can be used at any time, but you prefer the 3;15 start because of the major trends. How is the US session trading? That would be my ideal time - drop kids off to school and 8am-4pm, plus I can catch a London and NY sessions overlap from 8-12. Later in the evening I usually have more time from 9-1am.
What do you think and if you have experience with those hours?
Yes that is my preferred time. Faster moves, faster profit and better setups. 8am - 11/12 is also good. I don't like to enter trades after that time. So I usually get a good setup at 3:15am there about, and then go for another one in the US session and thats it for the day. Rarely I will take later trades.
Hero Traders Live to see their Accounts Die!
  • #270
  • Mar 10, 2010 2:56pm Mar 10, 2010 2:56pm
Great! Well, I am off to study those Fibs!
  • #271
  • Mar 10, 2010 2:57pm Mar 10, 2010 2:57pm
Quoting Ustin
Fibs is 1,5196 - 1,4784 ... 19,1%=1,4863 support => buy ... R=1,4975 (80.9%) and R=1,4996 (61,8%)
Thanks Ustin~! I just saw your post. Are u sure about the 80.9% level though? Please double check.
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  • #272
  • Mar 10, 2010 2:57pm Mar 10, 2010 2:57pm
Quoting Vark
Great! Well, I am off to study those Fibs!
Ok Vark! See you tomorrow!
Hero Traders Live to see their Accounts Die!
  • #273
  • Edited 6:41pm Mar 10, 2010 6:30pm | Edited 6:41pm
So far we see that today we were unable to break yesterday's resistance (80.9%) at 1.4987, in an already bearish market. Also we have a 3rd hit of the trendline on the 15M chart followed by sell signals. So for now we continue to look downwards towards the bear targets shown below. Please keep in mind that if the high or low of the day, shown below, is broken before midnight, we will need to adjust our fibs and our targets and other levels will change. 1.4930, today's 50% level, will be a key price to watch.

http://img6.imageshack.us/img6/2193/outlooko.jpg

Other considerations, on the bigger time frame, is that the H1 trendline was broken and we could have a pullback to test the backside of the trendline for continued buying. See chart below...

http://img43.imageshack.us/img43/4662/1hourx.jpg
Hero Traders Live to see their Accounts Die!
  • #274
  • Mar 10, 2010 11:05pm Mar 10, 2010 11:05pm
mr simoneg can you post the indicator or tpl u use for this method.
  • #275
  • Mar 11, 2010 12:03am Mar 11, 2010 12:03am
Quoting iCarumba
mr simoneg can you post the indicator or tpl u use for this method.
SHE will be up in a couple of hours, but in the meantime, please see post #1. She uses Fibonacci, it is usually included with just about any trading platform, a good place to start is to look at Bobokus thread about Fibonacci trading or www.babypips.com /school about basic Fibonacci theory.
Hope that helps.
  • #276
  • Mar 11, 2010 12:41am Mar 11, 2010 12:41am
Sorry now she's a she.


I want to know the relationship between fib retracement and fib expansion ... because I always thought that to predict the target price we need to use fib expansion .... but in this method we only use fib retracement of the previous bigger s/r to determine the limit.
  • #277
  • Mar 11, 2010 2:22am Mar 11, 2010 2:22am
This is an example of a fail trade today .... the left fib is the support and resistance from 2 days period the right fib shows that the price goes below 50% and i set my trigger here. but look the price goes up right after that ....

losing 12 pips here.

pls explain

[IMG]file:///C:/Users/Eka/Desktop/feb25_11_39pm_guclosebuy_loss_15455_15335.gif[/IMG]
Attached Image (click to enlarge)
Click to Enlarge Name: feb25_11_39pm_guclosebuy_loss_15455_15335.gif Size: 29 KB
  • #278
  • Mar 11, 2010 2:48am Mar 11, 2010 2:48am
It appears the pound is headed for yesterday's resistance @4987. Which is also at the 50% (4989) mark of the over all up move. The intraday range is 4987 - 4985. Putting our bull targets at 5002 and 5011. And our bear targets at 4930 and 4921. Right now we're in a bull market, trading at the 80.9 High.
A. Finesse Williams Making Millions One Pip At A Time!
  • #279
  • Mar 11, 2010 3:03am Mar 11, 2010 3:03am
Here's the chart:

http://img3.imageshack.us/img3/4692/cmcapture1en.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #280
  • Mar 11, 2010 3:30am Mar 11, 2010 3:30am
Consumer inflation expectations is going on right now. Think it is already priced in.
A. Finesse Williams Making Millions One Pip At A Time!
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