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Indicator Free Trading - Skunny

  • #6,361
  • Apr 12, 2010 1:52pm Apr 12, 2010 1:52pm
This is my next trading setup on the 60 minute Eur/Usd chart. I plan to sell.
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  • #6,362
  • Edited 2:36pm Apr 12, 2010 2:07pm | Edited 2:36pm
Quoting Checkz
This is my next trading setup on the 60 minute Eur/Usd chart. I plan to sell.
Hi Chcekz,

13571 - 13581 is major Supply demand zone from 17/03/10.

It also happens to be the 0/100 fib line on your setup.

This could go either way from there.
  • #6,363
  • Apr 12, 2010 3:17pm Apr 12, 2010 3:17pm
Quoting FX Compass
Hi Chcekz,

13571 - 13581 is major Supply demand zone from 17/03/10.

It also happens to be the 0/100 fib line on your setup.

This could go either way from there.
What date or timeframe is 17/03/10?
  • #6,364
  • Apr 12, 2010 3:36pm Apr 12, 2010 3:36pm
Quoting Checkz
What date or timeframe is 17/03/10?
Checkz, where do you live? Here in the US it would be 03/17/2010. The rest of the world does it bass ackwards.

It confused the hell out of my wife when she moved here from Mexico.



BarTstop
  • #6,365
  • Apr 12, 2010 5:25pm Apr 12, 2010 5:25pm
I am posting my current GU setup. Please feel free to comment. I'm not absolutely sure I have it right.

Red fib - completed, left on chart for reference
Blue fib - not triggered, price bounced off of 100 line (need a pierce)
Yellow fib - triggered long
White fib - triggered long, waiting for a bounce off of inner levels for entry

Any advice, comments, words of wisdom?


Bartstop
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  • #6,366
  • Apr 12, 2010 6:32pm Apr 12, 2010 6:32pm
My EU set up.

1. Red fib - Triggered short. Has not completed
2. Blue fib - Completed. Left on chart for reference.
3. Yellow fib - Has not triggered.
4. White fib - Has not triggered. A possible set up for price to hit 61.8 of yellow fib?

Again, this is what I see. I could be very wrong. Everything is open to discussion.



Bartstop
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  • #6,367
  • Apr 12, 2010 9:31pm Apr 12, 2010 9:31pm
Quoting bartstop
Checkz, where do you live? Here in the US it would be 03/17/2010. The rest of the world does it bass ackwards.

It confused the hell out of my wife when she moved here from Mexico.



BarTstop
Texas
  • #6,368
  • Apr 12, 2010 9:35pm Apr 12, 2010 9:35pm
Quoting FX Compass
Hi Chcekz,

13571 - 13581 is major Supply demand zone from 17/03/10.

It also happens to be the 0/100 fib line on your setup.

This could go either way from there.
I was stopped out but broke even. The thing that kind of confused me was on my Alpari account there's no Sunday candle but with my Fxcm account there is a Sunday candle. So one showed a downtrend while the other shows an uptrend!
  • #6,369
  • Apr 13, 2010 3:23am Apr 13, 2010 3:23am
Quoting Checkz
I was stopped out but broke even. The thing that kind of confused me was on my Alpari account there's no Sunday candle but with my Fxcm account there is a Sunday candle. So one showed a downtrend while the other shows an uptrend!
Alpari opens an hour later than some other brokers, would like to understand why . . . if anyone knows ?
20 pips a day isn't too much to ask . . .
  • #6,370
  • Apr 13, 2010 4:21am Apr 13, 2010 4:21am
Quoting Checkz
I was stopped out but broke even. The thing that kind of confused me was on my Alpari account there's no Sunday candle but with my Fxcm account there is a Sunday candle. So one showed a downtrend while the other shows an uptrend!
Checkz, I have seen three different brokers show three different formations and candles for the same pair and timeframe.

How does each trader trade what they see, if it is all different ?
  • #6,371
  • Apr 13, 2010 4:53am Apr 13, 2010 4:53am
Quoting FX Compass
Checkz, I have seen three different brokers show three different formations and candles for the same pair and timeframe.

How does each trader trade what they see, if it is all different ?
That maybe there way of of throwing us off! You got any new info or breakthrough ideas on Skunnys method lately. I tried reading bobokus thread and got a headache from all the lines I saw. I've had some success with fibbing retracements but I know that there is more to profitable trading than just that or is it? Anyway im glad to see you're back around these parts maybe you can enlighten us so more with your trading expertise!!!
  • #6,372
  • Apr 13, 2010 5:00am Apr 13, 2010 5:00am
from bulls to chickens, great...
  • #6,373
  • Apr 13, 2010 7:12am Apr 13, 2010 7:12am
Quoting ThomKnight
...(The exception for this for me sometimes.. is the first pullback on just using the 61.8...ie... we were short now going long.. pull back.. allign the 100/0 at the exremus of the move and the 61.8 at the pull back..this can get tricky if price is convoluted as you may be taking the obvious pull back but it may not be the proper sr point.. when in doubt i look to see how price is reacting to the fib in the past.. did it get respect on the dowstroke as well as the uptick. )...TK
Hello Thom-

I appreciate your numerous posts and charts concerning fibonacci tool trading. I am a J16 pf lifer and am enjoying trading full time as of Nov 10th 2009. I would like to add this fibonacci concept in my trading to help me in TP plotting. I have a question based on your post back on Jan 18th. We J16 ers have a term "PPZ" that we use for areas where price respects or "flips" -Price Pivot Zone. I know that these are support and resistance points but I make this distinction to assist newer traders reading my post as not all areas of support have yet developed into resistance and vice versa. I have posted a chart on EU and would like your comments. If I am reading your post correctly, are you saying that in a down trending market, that your fib should be plotted from a swing high and the 618 should coincide with the first obvious PPZ? Would this fib be plotted in accordance with your criteria? I have marked the obvious pertinant daily TF PPZ's in white. Thank you sir.

K.I.S.S.
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  • #6,374
  • Apr 13, 2010 7:57am Apr 13, 2010 7:57am
Anybody watching this?
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  • #6,375
  • Apr 13, 2010 8:35am Apr 13, 2010 8:35am
Quoting KissFan
Hello Thom-

I appreciate your numerous posts and charts concerning fibonacci tool trading. I am a J16 pf lifer and am enjoying trading full time as of Nov 10th 2009. I would like to add this fibonacci concept in my trading to help me in TP plotting. I have a question based on your post back on Jan 18th. We J16 ers have a term "PPZ" that we use for areas where price respects or "flips" -Price Pivot Zone. I know that these are support and resistance points but I make this distinction to assist newer traders reading my post as not all...
Hi there. It would be great to see Thomknight back in this thread but alas he has been awol since January. I am a big fan of Thom's stuff and from what I can see on your chart you would be correct, obviously that fib has completed though.

MD.
Keep smiling
  • #6,376
  • Apr 13, 2010 8:38am Apr 13, 2010 8:38am
The final setup for you.

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MD.
Keep smiling
  • #6,377
  • Apr 13, 2010 8:50am Apr 13, 2010 8:50am
Quoting bartstop
Anybody watching this?
Like Rooster Cogburn.

Markets a bit choppy today, watch out!

MD.
Keep smiling
  • #6,378
  • Apr 13, 2010 9:01am Apr 13, 2010 9:01am
Have a look at EURJPY.

MD.
Keep smiling
  • #6,379
  • Apr 13, 2010 9:42am Apr 13, 2010 9:42am
Quoting Misterdaz
Have a look at EURJPY.

MD.
Hello Misterdaz. Could you tell me if I am anywhere close on pulling this fib correctly. Thank you for your time sir.

K.I.S.S.
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  • #6,380
  • Apr 13, 2010 9:50am Apr 13, 2010 9:50am
Quoting KissFan
Hello Misterdaz. Could you tell me if I am anywhere close on pulling this fib correctly. Thank you for your time sir.

K.I.S.S.
I'm not the real expert, Thom is but you've pulled from a swing high and fitted you 61.8 to a lower pullback and price seems to be heading down, I just wish it would hurry up!

If you are just using these for targets on a J16 trading style then fine but to trade from these in their own right requires a bit more knowledge on the right setups.

Good luck.

MD.
Keep smiling
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