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Simple & Consistent Fibbing Method

  • #961
  • Apr 19, 2010 9:05pm Apr 19, 2010 9:05pm
Hi! Simoneg,

Need clarification from you. On your video, you mentioned that the intraday hi/lo fib has to be adjusted if the following conditions occured:

1. the previous hi/lo (level 100/0) is broken followed by a pullback to 80.9/19.1 level and beyond.
2. the #1 target is achieved followed by the pullback.
3. both #1 and #2 target are achieved.

On no. 2: you did mention about the pullback, but didn't really mention specifically about the level of pullback.. do we need to adjust the fib as well eventhough with the small pullback towards 100/0 level?

On no. 3: you did not mention about pullback at all. So, do we also need automatically adjust the hi/lo fib once both target are achieved without considering a pullback at all?

Tks in advance...
  • #962
  • Apr 20, 2010 6:01am Apr 20, 2010 6:01am
Quoting d_narrow
Hi! Simoneg,

Need clarification from you. On your video, you mentioned that the intraday hi/lo fib has to be adjusted if the following conditions occured:

1. the previous hi/lo (level 100/0) is broken followed by a pullback to 80.9/19.1 level and beyond.
2. the #1 target is achieved followed by the pullback.
3. both #1 and #2 target are achieved.

On no. 2: you did mention about the pullback, but didn't really mention specifically about the level of pullback.. do we need to adjust the fib as well eventhough with the small pullback towards...
Good Morning d_narrow,

On no.2, pullback is needed at least to the 80.9, On no.3, any pullback at all after achieved targets 1&2 requires fibs to be adjusted.
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  • #963
  • Apr 20, 2010 6:17am Apr 20, 2010 6:17am
Good Morning!
Today's Bull Targets have been achieved and we are now seeing some pullback. Pullback is likely to 1.5290. However we have support at 1.5345 and 1.5290. Deeper pullback can take us to 1.5240, 1.5200 or lower. Shorts off achieved bull target levels and 1.5415 are good entries at this point. Next 50% level that can present added short opportunities, 1.5397.
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  • #964
  • Edited 6:36am Apr 20, 2010 6:33am | Edited 6:36am
Quoting simoneg
Good Morning d_narrow,

On no.2, pullback is needed at least to the 80.9, On no.3, any pullback at all after achieved targets 1&2 requires fibs to be adjusted.

Tks Simoneg for the clarification.. I'm really appreciate it!
  • #965
  • Apr 20, 2010 7:18am Apr 20, 2010 7:18am
Quoting simoneg
Good Morning!
Today's Bull Targets have been achieved and we are now seeing some pullback. Pullback is likely to 1.5290. However we have support at 1.5345 and 1.5290. Deeper pullback can take us to 1.5240, 1.5200 or lower. Shorts off achieved bull target levels and 1.5415 are good entries at this point. Next 50% level that can present added short opportunities, 1.5397.
I took a short @5397, TP 5341 - strong support there, watching 80.9 support of last move up - lot of play there.
  • #966
  • Apr 20, 2010 7:26am Apr 20, 2010 7:26am
looking at another possible short entry on EU, depending how 8:30 candle closes. right now it is breaching 50% @3484 (80.9% of yesterdays daily fib)
  • #967
  • Apr 20, 2010 7:32am Apr 20, 2010 7:32am
Quoting Vark
looking at another possible short entry on EU, depending how 8:30 candle closes. right now it is breaching 50% @3484 (80.9% of yesterdays daily fib)
really good entries in both EU and GU....all the very best to you
Raza
  • #968
  • Apr 20, 2010 7:54am Apr 20, 2010 7:54am
Quoting d_narrow
Tks Simoneg for the clarification.. I'm really appreciate it!
No prob d_narrow!
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  • #969
  • Apr 20, 2010 7:55am Apr 20, 2010 7:55am
Quoting Vark
I took a short @5397, TP 5341 - strong support there, watching 80.9 support of last move up - lot of play there.
Good Morning Vark, meant to email you today...videos will still be coming. Just need time. Yes, had an eye on that 80.9 level as well, we seem to have broken there now.
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  • #970
  • Apr 20, 2010 7:56am Apr 20, 2010 7:56am
Quoting shr5
really good entries in both EU and GU....all the very best to you
Thanks shr!
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  • #971
  • Apr 20, 2010 8:01am Apr 20, 2010 8:01am
Going lower, we need to watch 1.5320-1.5330 support area and upward TL on 15M. Once again, unable to post charts.
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  • #972
  • Apr 20, 2010 8:01am Apr 20, 2010 8:01am
Quoting simoneg
Good Morning Vark, meant to email you today...videos will still be coming. Just need time. Yes, had an eye on that 80.9 level as well, we seem to have broken there now.
good morning Simone!
quick question: if we have a gap (break) between close of Friday and open on Sunday, do we adjust our Friday daily fib with targets for Monday to possible new lows/highs created on sunday before midnite?

on EU we are entering strong support level at 3474-3470, so I will be moving my SL to BE+5 to protect the profits...+5 pips is plus 5 pips
  • #973
  • Apr 20, 2010 8:14am Apr 20, 2010 8:14am
Quoting Vark
good morning Simone!
quick question: if we have a gap (break) between close of Friday and open on Sunday, do we adjust our Friday daily fib with targets for Monday to possible new lows/highs created on sunday before midnite?

on EU we are entering strong support level at 3474-3470, so I will be moving my SL to BE+5 to protect the profits...+5 pips is plus 5 pips
Hi Vark,

Yes we will still need to adjust our fib just the same...always good to BE where danger is seen ahead. I have done the same for my GU positions.
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  • #974
  • Apr 20, 2010 8:15am Apr 20, 2010 8:15am
well, I'm +5 on EU, will be looking at another entry below 3467.
Looks like 61.8 resistance on GU will hold and we are ready for a 20 pip drop
  • #975
  • Apr 20, 2010 8:21am Apr 20, 2010 8:21am
Quoting Vark
well, I'm +5 on EU, will be looking at another entry below 3467.
Looks like 61.8 resistance on GU will hold and we are ready for a 20 pip drop

wooohooo! sounds good! all the best on your EU as well!
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  • #976
  • Apr 20, 2010 8:24am Apr 20, 2010 8:24am
On GU, 1.5360 is a strong 50% breach level that we just hit. Fib 1.5433 to 1.5288 to see this. Closing below here can lead to much stronger selling.
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  • #977
  • Apr 20, 2010 8:30am Apr 20, 2010 8:30am
Quoting simoneg
On GU, 1.5360 is a strong 50% breach level that we just hit. Fib 1.5433 to 1.5288 to see this. Closing below here can lead to much stronger selling.
yes, I was watching this for the next 50% breach yay, I'm learning AND applying knowledge!
  • #978
  • Apr 20, 2010 8:31am Apr 20, 2010 8:31am
Quoting Vark
yes, I was watching this for the next 50% breach yay, I'm learning AND applying knowledge!

Great Vark!!!
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  • #979
  • Apr 20, 2010 8:34am Apr 20, 2010 8:34am
Bagged profits and waiting! Dont like this zone! We can buy off here! I will wait for close below 1.5360, if any, for further selling.
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  • #980
  • Apr 20, 2010 8:34am Apr 20, 2010 8:34am
right now we are at 61.8 of the last move down, fibbing from 5472 to 5189...bouncy level
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