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Simple & Consistent Fibbing Method

  • #601
  • Mar 23, 2010 9:59am Mar 23, 2010 9:59am
simon, thank you so much. i have been going through skuny's and bobokus' threads, and your pdf is just what i have been wishing for.

seriously thank you !!!!!!
  • #602
  • Mar 23, 2010 10:00am Mar 23, 2010 10:00am
not from ja, but used to do a lot of business in kingston. been all over ja though. beautiful place! negril is my favorite beach of all
Things can get Real ugly, Real quick!!!
  • #603
  • Mar 23, 2010 10:01am Mar 23, 2010 10:01am
Quoting frankkn
simon, thank you so much. i have been going through skuny's and bobokus' threads, and your pdf is just what i have been wishing for.

seriously thank you !!!!!!
I am glad to hear it has helped frankkn. Thank you!
Hero Traders Live to see their Accounts Die!
  • #604
  • Mar 23, 2010 10:01am Mar 23, 2010 10:01am
Quoting Atltrader
not from ja, but used to do a lot of business in kingston. been all over ja though. beautiful place! negril is my favorite beach of all
Ok, cool! yes it is, very nice beaches on that side as well.
Hero Traders Live to see their Accounts Die!
  • #605
  • Mar 23, 2010 11:05am Mar 23, 2010 11:05am
Quoting Vark

Can't wait to jump into it I am almost done with Bobokus thread - gives me MUCH better understanding of Your method - btw, great PDF! Thanks a lot!
I'm sorry, can u point where's the bobokus threads is ? Can't jump there ... tq.
Many thanks to simoneg
  • #606
  • Edited 11:19am Mar 23, 2010 11:07am | Edited 11:19am
GBP/USD

1.5067 stands as the next key level to watch. It is the 50%(breach) level of 1.5161 to 1.4970. Further buying can take place above this level. If we fail to close above however, we should have some selling taking place.
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  • #607
  • Mar 23, 2010 11:08am Mar 23, 2010 11:08am
Quoting freeasabird
I'm sorry, can u point where's the bobokus threads is ? Can't jump there ... tq.
Many thanks to simoneg
Sure freeasabird...it is http://www.forexfactory.com/showthread.php?t=50767
Hero Traders Live to see their Accounts Die!
  • #608
  • Mar 23, 2010 11:16am Mar 23, 2010 11:16am
Quoting simoneg
1.5067 stands as the next key level to watch. It is the 50%(breach) level of 1.5161 to 1.4970. Further buying can take place above this level. If we fail to close above however, we should have some selling taking place.

were talkin sterling right simone
  • #609
  • Mar 23, 2010 11:18am Mar 23, 2010 11:18am
Quoting frankkn
were talkin sterling right simone
oops, yes frankkn. Thanks will edit!
Hero Traders Live to see their Accounts Die!
  • #610
  • Edited 1:36pm Mar 23, 2010 11:26am | Edited 1:36pm
could anyone offer up some criticism on this:

i would like to demo this for some simple swing trades

(using prior day's hi/lo price for fib)

1. set fib to show only 1.34, -.34, and .5

2. use pa to determine direction and timing on breach of the .5

3. set stoploss according to relevant recent s/r

4. target the 1.34 or -.34

maybe some of the stop to b/e stuff once price is far enough away

should i set fib hi to lo?

edit: i re-read and now understand that i need two fibs instead of one. the breach level is the .5 of the last swing while the targets are identified using a seperate fib that spans the high/low of the appropriate time period (i.e. 12-3, weekly)
  • #611
  • Mar 23, 2010 11:32am Mar 23, 2010 11:32am
Quoting frankkn
could anyone offer up some criticism on this:

i would like to demo this for some simple swing trades

(using prior day's hi/lo price for fib)

1. set fib to show only 1.34, -.34, and .5

2. use pa to determine direction and timing on breach of the .5

3. set stoploss according to relevant recent s/r

4. target the 1.34 or -.34

maybe some of the stop to b/e stuff once price is far enough away

should i set fib hi to lo?
Hi frankkn, you will need 1.55 and -55 as well as the 100(high) and 0(low). Aside from that everything else is ok.
Hero Traders Live to see their Accounts Die!
  • #612
  • Mar 23, 2010 11:36am Mar 23, 2010 11:36am
dude
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  • #613
  • Mar 23, 2010 11:38am Mar 23, 2010 11:38am
Quoting frankkn
dude
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  • #614
  • Mar 23, 2010 11:54am Mar 23, 2010 11:54am
Quoting simoneg
Sure freeasabird...it is http://www.forexfactory.com/showthread.php?t=50767
Thank you, I'll start reading .
Btw simoneg, I'm still don't get it, When we change HIGH nad LOW, and FIBBING again. I'm sorry ....
If u don't busy, may u post (in detail), today for example from early INTRADAY setup until some CHANGE has made.

Than you simoneg/
  • #615
  • Mar 23, 2010 12:03pm Mar 23, 2010 12:03pm
Quoting freeasabird
Thank you, I'll start reading .
Btw simoneg, I'm still don't get it, When we change HIGH nad LOW, and FIBBING again. I'm sorry ....
If u don't busy, may u post (in detail), today for example from early INTRADAY setup until some CHANGE has made.

Than you simoneg/
Hi freeasabird, in today's example, the adjusting of the intraday fibs took place
all the way up to 7am EST. After that there were no new highs or lows for the day, so there was no reason to adjust.

We adjust the intraday fibs under the following conditions:

1. The high or low is broken and there is identifiable pullback
2. A target is hit and there is pullback to the 80.9 or 19.1 or beyond
3. Both targets are achieved.

NB: Candle close is needed to confirm all of the above.

You can read through the PDF for more info and examples.
Hero Traders Live to see their Accounts Die!
  • #616
  • Mar 23, 2010 12:19pm Mar 23, 2010 12:19pm
Quoting simoneg
Hi freeasabird, in today's example, the adjusting of the intraday fibs took place
all the way up to 7am EST. After that there were no new highs or lows for the day, so there was no reason to adjust.

We adjust the intraday fibs under the following conditions:

1. The high or low is broken and there is identifiable pullback
2. A target is hit and there is pullback to the 80.9 or 19.1 or beyond
3. Both targets are achieved.

NB: Candle close is needed to confirm all of the above.

You can read through the PDF for more info and examples.
You're right simoneg, i should read pdf once more, tq.
  • #617
  • Edited 7:52pm Mar 23, 2010 4:14pm | Edited 7:52pm
In looking at today's chart, it was pointed out that an ABCD was in process. The CD was cut short by a retrace of over 50% of the move up. It actually pivoted a little above the 38.2. It has now closed above the 50 pivot of today and if it doesn't close below that I would say that there is a smaller embedded abcd within the CD leg we were looking for, and we are now in the cd leg of the larger CD . If this is true we can still look at our same targets that were delayed by the retracement. We still have higher lows and it is quite possible that this will continue upward.
  • #618
  • Mar 23, 2010 4:52pm Mar 23, 2010 4:52pm
Trying to post a chart
http://www.forexfactory.com/attachme...1&d=1269380693
  • #619
  • Mar 23, 2010 8:29pm Mar 23, 2010 8:29pm
the blue lines are the 0, 50, and 61.8 % retracements of last years low/high

if you walk your fib from the high in late november to each low to the left, the 50% breach works like a charm....

and here we are now, price has bounced each time it has retraced to the 50% but not very far

price at the bottom of its little channel what will happen next?
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  • #620
  • Edited 9:05pm Mar 23, 2010 8:56pm | Edited 9:05pm
As trading continued the PA went lower but seems to have found support on the trendline of the lows making another higher low and heading up. If this trendline holds we should find more entries on the way up to our targets as it pulls back to the trendline. I am told that a third hit on a trendline is usually a good place to enter a trade. Good trading and good night.
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