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Simple & Consistent Fibbing Method

  • #641
  • Mar 25, 2010 9:12am Mar 25, 2010 9:12am
Quoting Earth2Pip
I had wondered about fractals since they were mentioned in the thread somewhere but no one ever seemed to talk about them very much. Today I asked Aswilled about them and he gave a pretty descent explanation. I started using them and wow what a difference. I startedfibbing from the last low to the last high fractal and it tells the story very well and helped me with my entries and exits. I used the trendline of the 15 minute chart combined with the fractals and currently am on my 6th productive trade. Some were only a couple of pips but I didn't...

exciting! please share
  • #642
  • Mar 25, 2010 9:14am Mar 25, 2010 9:14am
Quoting simoneg
Good Morning Traders,

...
simone, we appreciate all the selfless effort! you are truly a good person and i wish i could send you a box full of happiness and joy!
  • #643
  • Mar 25, 2010 10:12am Mar 25, 2010 10:12am
Quoting simoneg
On Friday we saw the markets testing the low of week and we are now sitting just above support at 1.4970 and the long term trend line. The support of the entire up move (from 1.5380 to 1.4780) is also just below at 1.4894.

http://img96.imageshack.us/img96/1921/week1o.jpg

With this BEARISH market, let us keep these weekly bear targets in mind.
Hero Traders Live to see their Accounts Die!
  • #644
  • Mar 25, 2010 10:38am Mar 25, 2010 10:38am
Hello Simoneg,

can you give some comments to my post 630? Hope you find the time.
  • #645
  • Mar 25, 2010 12:18pm Mar 25, 2010 12:18pm
Quoting joker24
Hello Simoneg,...
I am so sorry Joker24, I did not see your post at all. I will need to look at this tomorrow. I am unable to do much with what I have working with the platform I have access to right now. But I will make the time to answer your question. Have a few others to answer as well.
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  • #646
  • Mar 25, 2010 12:20pm Mar 25, 2010 12:20pm
Hi Guys, Glancing at the daily chart, I see that we have a major 50% breach level at 1.4880. This 50% is the from the swing high of March 17 2010 at 1.5380 to the swing low of Aprill 22 2009 at 1.4400. We have been making serious attempts to close below here so we could be setting up for much more selling off this level.
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  • #647
  • Mar 25, 2010 12:31pm Mar 25, 2010 12:31pm
That was much faster than I thought. Looking for 1.4760 to 1.4795 as tp levels for today.
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  • #648
  • Edited 1:01pm Mar 25, 2010 12:48pm | Edited 1:01pm
Well that setup was too pretty not to take. Remember its Friday (oooops why do I think its Friday ) so protect your profits.

I'm out here!

Have a great weekend All!
Hero Traders Live to see their Accounts Die!
  • #649
  • Mar 25, 2010 1:28pm Mar 25, 2010 1:28pm
Quoting simoneg
Hi Guys, Glancing at the daily chart, I see that we have a major 50% breach level at 1.4880. This 50% is the from the swing high of March 17 2010 at 1.5380 to the swing low of Aprill 22 2009 at 1.4400. We have been making serious attempts to close below here so we could be setting up for much more selling off this level.

i just drew those on a chart...and i have to say i would never have guessed that those are areas to fib..
  • #650
  • Mar 25, 2010 1:46pm Mar 25, 2010 1:46pm
Quoting frankkn
i just drew those on a chart...and i have to say i would never have guessed that those are areas to fib..
Hi frankkn,

Its the same set of rules we follow for that fib. I believe however the video will give better understanding on drawing those fibs.
Hero Traders Live to see their Accounts Die!
  • #651
  • Mar 25, 2010 8:44pm Mar 25, 2010 8:44pm
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.

Please see attachment for details of the method.

[b]I like to begin my trading day at 3:00am EST and find setups 20 to 30 minutes after that, closer to when the...
hi
simoneg
i just quickly poped in to say u r doing great mate.showing people how to trade.
i use fib in my methood as well.i just use my eyes to spot those levels.
for new traders my advice is add this tool to ur arsenal.
fib is a great tool for trading.
it is one of the best tool out there .
learn how to use this tool properly it will help u so much in trading.
i will post my live fx trades sometimes in this thread.
all the best guys
sho
  • #652
  • Mar 26, 2010 8:16am Mar 26, 2010 8:16am
Quoting trade price
hi
simoneg
i just quickly poped in to say u r doing great mate.showing people how to trade.
i use fib in my methood as well.i just use my eyes to spot those levels.
for new traders my advice is add this tool to ur arsenal.
fib is a great tool for trading.
it is one of the best tool out there .
learn how to use this tool properly it will help u so much in trading.
i will post my live fx trades sometimes in this thread.
all the best guys
sho
Thanks trade price! Looking forward to your input!
Hero Traders Live to see their Accounts Die!
  • #653
  • Mar 26, 2010 8:25am Mar 26, 2010 8:25am
Good Morning All,

Today we see that our Major Resistance at 1.4880 has held giving more selling opportunities. Right now we are reacting to the upward trendline from the higher lows created from the low of yesterday. Should we break, our target for today is 1.4685 to 1.4728.
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  • #654
  • Mar 26, 2010 10:52pm Mar 26, 2010 10:52pm
I mentioned in a prior thread, and showed the monthly chart, showing the H&S pattern forming. It is in play peoples. We are going deep. I do believe we are going into the 1.3xxx. Price is below the support (19.1) of the last major swing. And heading for target levels. For those that know H&S pattern behavior, we know that the right shoulder is our "C". And within this C, we have a smaller ABCD/H&S pattern that plays out. When we see H&S, we must draw a tl through the neckline. And the ABCD/H&S within the "C" causes price to retrace back to this tl before stretching the right shoulder. So according to the rules of H&S and this method that we are using, it appears that the dollar is going to beat the pound down, down, down. If my analysis is sound, lets print money peoples. :nerd:


http://img180.imageshack.us/img180/6327/cmcapture1a.jpg
A. Finesse Williams Making Millions One Pip At A Time!
  • #655
  • Mar 27, 2010 8:45am Mar 27, 2010 8:45am
Quoting joker24
Hello Simoneg,...
Good Morning Joker24,

Sorry for the delayed response. I am just getting a little to time to properly answer questions.

RE: First Trade
Your fib was drawn correctly and B1 correctly identified. However, once the new high was created at 1.5018, you should have adjusted your high to the new high, so your B1 would have moved to 1.4987, giving you an earlier entry and you would not have been stopped out as we did not retrace above the 61.8%.

RE: Second Trade
I am uncertain of the actual points specified for this trade since H3 is lower than L3. Please clarify.

Good trades all in all! It is good that you have SO QUICKLY observed that you can fib MINOR HIGHS and LOWS for setups.
Hero Traders Live to see their Accounts Die!
  • #656
  • Mar 27, 2010 8:47am Mar 27, 2010 8:47am
Quoting frankkn
i feel like i am coming closer to an understanding of this way of looking at price action. there are so many different viewpoints from which a trader can perceive the market, and this one really resonates with me.

each time i check out a chart i can see this method at work just a little more than i did before.

please comment on this picture. with a yellow box, i marked midnight to 3 am EST, then fibbed from high to low to find bull/bear targets. i highlighted the bear target in paint so thats why its opaque.

i am having a hard time seeing where...
Hi frankkn,
Just getting some time to respond to your question. Your fib was correct for identifying targets. The videos are being cleaned up for posting today, so your other question will be answered through that later.
Hero Traders Live to see their Accounts Die!
  • #657
  • Mar 27, 2010 8:50am Mar 27, 2010 8:50am
Quoting frankkn
simone, we appreciate all the selfless effort! you are truly a good person and i wish i could send you a box full of happiness and joy!

Just seeing this!!! Thanks a million frankkn! I appreciate it!
Hero Traders Live to see their Accounts Die!
  • #658
  • Mar 27, 2010 8:52am Mar 27, 2010 8:52am
Quoting Earth2Pip
I had wondered about fractals since they were mentioned in the thread somewhere but no one ever seemed to talk about them very much. Today I asked Aswilled about them and he gave a pretty descent explanation. I started using them and wow what a difference. I startedfibbing from the last low to the last high fractal and it tells the story very well and helped me with my entries and exits. I used the trendline of the 15 minute chart combined with the fractals and currently am on my 6th productive trade. Some were only a couple of pips but I didn't...
Earth, hope you all have been sharing this info in the mean time.
Hero Traders Live to see their Accounts Die!
  • #659
  • Edited 1:53pm Mar 27, 2010 1:41pm | Edited 1:53pm
Here is a short setup I found on Thursday that seems to have great possibilities for the week to come with many entries using the simple fib method. I shorted at 84.60 and am up 102 pips as of fridays close which was actually in a retrace.
http://www.forexfactory.com/attachme...1&d=1269714930


http://www.forexfactory.com/attachme...1&d=1269718625
http://www.forexfactory.com/attachme...1&d=1269715019
  • #660
  • Mar 27, 2010 2:11pm Mar 27, 2010 2:11pm
Will keep my eye on this Earth2Pip, Good trade and Analysis!
Hero Traders Live to see their Accounts Die!
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