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Simple & Consistent Fibbing Method

  • #721
  • Mar 30, 2010 12:27pm Mar 30, 2010 12:27pm
Nice short trade in motion with next breach level at 1.5060! Hope you held on shr5! Short entry triggered below 1.5070.
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  • #722
  • Mar 30, 2010 1:30pm Mar 30, 2010 1:30pm
Fibbing 1.5125 to 1.4972, we see that our next key decision level is a 1.5050.

http://img638.imageshack.us/img638/9308/nextt.jpg
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  • #723
  • Mar 30, 2010 3:09pm Mar 30, 2010 3:09pm
Quoting Vark
so the fractals are useful only in identifying past significant highs/lows for our 50% breach fib, but because they take so much time to form (5 sessions) there's a delay on the impact on our immediate trading, right?
Yes Vark, this is correct and this is why, with this method is used primarily with the 50% fib, which fibs into the past, and as stated from the PDF highlights possible support and resistance levels.
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  • #724
  • Mar 30, 2010 3:43pm Mar 30, 2010 3:43pm
can you describe how you pull the trigger?

break of a pin bar, inside bar etc

or do you just wait till it looks like price won't go any closer to the breach level, and enter using intuition
  • #725
  • Mar 30, 2010 4:19pm Mar 30, 2010 4:19pm
Hi Simone,

Thank you very much for sharing this system.

When fibbing the intra day high to low, does one fib from the 12:00AM candle to 3:00AM candle - high to low or does one find the closest swing high and low between the times?

I have attached 2 charts.

1. With the 12:00AM candle (low) fibbed from the 3:15AM candle; and
2. With the 21:30PM candle (low) fibbed from the 3:15AM candle.

I would think chart 1 is the way to fib it right?

Thanks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Step 1 - Chart 1.jpg Size: 129 KB
Click to Enlarge Name: Step 1 - Chart 2.jpg Size: 128 KB
AFTAB Time Will Tell & Price Will Show
  • #726
  • Mar 30, 2010 8:26pm Mar 30, 2010 8:26pm
http://www.forexfactory.com/showpost...&postcount=427

another ABCD short coming on gbp/jpy
  • #727
  • Mar 31, 2010 8:36am Mar 31, 2010 8:36am
Quoting frankkn
can you describe how you pull the trigger?

break of a pin bar, inside bar etc

or do you just wait till it looks like price won't go any closer to the breach level, and enter using intuition
Hi frankkn,

If you are referring to entries outside of those explained previously, it would be on completion of ABCD targets or at support or resistance.
Hero Traders Live to see their Accounts Die!
  • #728
  • Mar 31, 2010 8:41am Mar 31, 2010 8:41am
Quoting aftab
Hi Simone,

Thank you very much for sharing this system.

When fibbing the intra day high to low, does one fib from the 12:00AM candle to 3:00AM candle - high to low or does one find the closest swing high and low between the times?

I have attached 2 charts.

1. With the 12:00AM candle (low) fibbed from the 3:15AM candle; and
2. With the 21:30PM candle (low) fibbed from the 3:15AM candle.

I would think chart 1 is the way to fib it right?

Thanks.
Hi aftab,

The correct way is is to fib from the highest between 12 and 3 to the lowest low between 12 and 3.

Your chart 1 would be correct for the intraday fib.
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  • #729
  • Mar 31, 2010 8:42am Mar 31, 2010 8:42am
Quoting frankkn
http://www.forexfactory.com/showpost...&postcount=427

another ABCD short coming on gbp/jpy
Thanks for sharing frankkn! How did the usd/jpy setup play out?
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  • #730
  • Mar 31, 2010 10:38am Mar 31, 2010 10:38am
Quoting simoneg
Thanks for sharing frankkn! How did the usd/jpy setup play out?
every time i find an ABCD pattern, by the time i get to it, it has already happened!

the usd/jpy is still on its way i think, it was on a daily
  • #731
  • Mar 31, 2010 10:52am Mar 31, 2010 10:52am
Quoting frankkn
every time i find an ABCD pattern, by the time i get to it, it has already happened!

the usd/jpy is still on its way i think, it was on a daily
Ok, cool. I think we may get some major reversals this week into next week, major patterns on a couple of pairs are on their way to completion.
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  • #732
  • Mar 31, 2010 11:07am Mar 31, 2010 11:07am
[quote=simoneg;3591407]We are currently selling off the 50% of Last Week's Swing and presently looking bearish.

http://img339.imageshack.us/img339/4463/guh1.jpg


Will continue to keep these BULL targets for the week in mind as we continue buying.
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  • #733
  • Mar 31, 2010 11:32am Mar 31, 2010 11:32am
we are now above last weeks high, and may go to 1.5250 area
  • #734
  • Mar 31, 2010 11:51am Mar 31, 2010 11:51am
Quoting djhex
we are now above last weeks high, and may go to 1.5250 area
Cool! I am preparing shorts for these areas!
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  • #735
  • Mar 31, 2010 3:55pm Mar 31, 2010 3:55pm
[quote=simoneg;3600299]
Quoting simoneg
We are currently selling off the 50% of Last Week's Swing and presently looking bearish.

http://img339.imageshack.us/img339/4463/guh1.jpg


Will continue to keep these BULL targets for the week in mind as we continue buying.
Simone,

Aren't last week's targets alculated from 19th March to 26th March (Friday - Friday)?
AFTAB Time Will Tell & Price Will Show
  • #736
  • Mar 31, 2010 4:07pm Mar 31, 2010 4:07pm
[quote=aftab;3600877]
Quoting simoneg

Simone,

Aren't last week's targets alculated from 19th March to 26th March (Friday - Friday)?
Hi aftab, what dates did LAST WEEK begin and end?
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  • #737
  • Mar 31, 2010 4:17pm Mar 31, 2010 4:17pm
[quote=simoneg;3600898]
Quoting aftab

Hi aftab, what dates did LAST WEEK begin and end?
Sorry about that Simone - it would begin Monday 22nd to Sunday 28th - right?
AFTAB Time Will Tell & Price Will Show
  • #738
  • Mar 31, 2010 4:18pm Mar 31, 2010 4:18pm
[quote=aftab;3600916]
Quoting simoneg

Sorry about that Simone - it would begin Monday 22nd to Sunday 28th - right?
No prob. Sunday is not included in the days. So it would be from Monday 22nd to Friday 26th.
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  • #739
  • Mar 31, 2010 4:25pm Mar 31, 2010 4:25pm
[quote=simoneg;3600918]
Quoting aftab

No prob. Sunday is not included in the days. So it would be from Monday 22nd to Friday 26th.
And likewise you plot the monthly targets on the 240 Mins - right?

Thanks for your patience.
AFTAB Time Will Tell & Price Will Show
  • #740
  • Mar 31, 2010 4:29pm Mar 31, 2010 4:29pm
[quote=aftab;3600926]
Quoting simoneg

And likewise you plot the monthly targets on the 240 Mins - right?


Thanks for your patience.
Well, monthly targets can be plotted from 15m upward. Smaller time frames may just require that you do a lot of zooming in to find the high and low of the month. It just depends on what you prefer.

Not a problem to answer your questions.
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