Simple & Consistent Fibbing Method | Page 53 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

SIMPLE EA for a simple method needed!! 2 replies

Simple, Non-subjective, Consistent, Effective 645 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Simple Method to Scalp & Trade Big 42 replies

Attachments: Simple & Consistent Fibbing Method
Exit Attachments

Simple & Consistent Fibbing Method

  • #1,041
  • Apr 26, 2010 9:23am Apr 26, 2010 9:23am
1.5453 Support and breach level still holding and could resume buying. Watching this level.
Hero Traders Live to see their Accounts Die!
  • #1,042
  • Apr 26, 2010 9:36am Apr 26, 2010 9:36am
Shorts on GU closed. Awaiting confirmations off this level for possible long entry targeting this week's bull targets or closure below 1.5453 confirming continued selling.
Hero Traders Live to see their Accounts Die!
  • #1,043
  • Apr 26, 2010 9:57am Apr 26, 2010 9:57am
Excellent fib method......one of the best I have ever seen. My methodology is radically different from yours on the same plays, but we get similar results. You are getting more entries than me in most cases also. It goes to show how many different ways different chartists view the markets.
  • #1,044
  • Apr 26, 2010 10:01am Apr 26, 2010 10:01am
Quoting Troikaone1
Excellent fib method......one of the best I have ever seen. My methodology is radically different from yours on the same plays, but we get similar results. You are getting more entries than me in most cases also. It goes to show how many different ways different chartists view the markets.
Thanks Troikaone1! Quiet true...hence no HOLY GRAIL method.
Hero Traders Live to see their Accounts Die!
  • #1,045
  • Apr 26, 2010 10:25am Apr 26, 2010 10:25am
Simoneg,

I am curious about how long you have been trading FOREX and what were your methodologies and results before you started using your fib method? TIA.
  • #1,046
  • Apr 26, 2010 10:35am Apr 26, 2010 10:35am
Quoting Troikaone1
Simoneg,

I am curious about how long you have been trading FOREX and what were your methodologies and results before you started using your fib method? TIA.
Hi Troikaone1,

I have been trading for 3 1/2 years. I cant remember never using basic ABCD fibbing. However, I traded 5 minute charts using Moving Average Cross Overs, STOCs and Elliot Wave. Moved from that to Candlesticks and Fibs with STOCS, STARC Bands and chart patterns, then Candlesticks, Fibs, STOCs and Support & Resistance. Then Candlesticks, S&R, Fibs. Each time recognizing how much better I trade without indicators, and stepping up the timeframe.
Hero Traders Live to see their Accounts Die!
  • #1,047
  • Apr 26, 2010 10:44am Apr 26, 2010 10:44am
We are long of 1.5453 support (50% breach level) with TP#1 1.5523 and TP#2 at 1.5540. We are still however cautioning resistance at 1.5480. Early break even is good with today's price behavior.
Hero Traders Live to see their Accounts Die!
  • #1,048
  • Apr 26, 2010 10:57am Apr 26, 2010 10:57am
BE hit on long trade as 1.5480 resistance held to resume selling. We are trapped between 1.5480 resistance and 1.5453 support. We need to see price breaking these levels for confirmed direction.
Hero Traders Live to see their Accounts Die!
  • #1,049
  • Apr 26, 2010 11:22am Apr 26, 2010 11:22am
I am short at 1.5451, as we have closed below 1.5453 support, now resistance. TP as per previous analysis (posts 1039-1040).
Hero Traders Live to see their Accounts Die!
  • #1,050
  • Apr 26, 2010 1:05pm Apr 26, 2010 1:05pm
agree with smoneg , but i will wait until we close below 1.5430 and wait for a bounce to test that resistance line to go for the short.
  • #1,051
  • Apr 26, 2010 2:51pm Apr 26, 2010 2:51pm
Quoting djhex
agree with smoneg , but i will wait until we close below 1.5430 and wait for a bounce to test that resistance line to go for the short.
Ok dj! Also see the area that you are looking at.
Hero Traders Live to see their Accounts Die!
  • #1,052
  • Apr 26, 2010 2:58pm Apr 26, 2010 2:58pm
Hi Simoneg, are you still holding the short?

Your stop loss would be 1.5486 level?

I have been following from 8am GMT in the mornings and trying to find a good place to place my stop losses.
  • #1,053
  • Apr 26, 2010 3:02pm Apr 26, 2010 3:02pm
Quoting Acedup
Hi Simoneg, are you still holding the short?

Your stop loss would be 1.5486 level?

I have been following from 8am GMT in the mornings and trying to find a good place to place my stop losses.
Hi Acedup, yes I am still short with stop just above 1.5480. Since that is the holding resistance level I wouldn't want to put it any further. If we begin closing above that level we are most likely going long.
Hero Traders Live to see their Accounts Die!
  • #1,054
  • Apr 26, 2010 3:07pm Apr 26, 2010 3:07pm
Thanks

Also thanks for your system, it has given me a degree focus - and I like the fibs.
  • #1,055
  • Apr 26, 2010 3:08pm Apr 26, 2010 3:08pm
Quoting Acedup
Thanks

Also thanks for your system, it has given me a degree focus - and I like the fibs.
You are welcome Acedup!
Hero Traders Live to see their Accounts Die!
  • #1,056
  • Apr 26, 2010 6:01pm Apr 26, 2010 6:01pm
Quoting Acedup
Thanks

Also thanks for your system, it has given me a degree focus - and I like the fibs.
Acedup, are you still GAP trading? I think I saw your posts on the matter.
  • #1,057
  • Apr 27, 2010 1:21am Apr 27, 2010 1:21am
Hi Vark

I am, however not with the frequency as I used too. I soon learnt my strategy was based alot on luck rather than any hidden secret or real structure.

But I am still working on it. Although I cant get all excited on the Sunday evenings as the opening is at 11pm.... rather than 10pm when I was at home.
  • #1,058
  • Apr 27, 2010 1:24am Apr 27, 2010 1:24am
We could be in for a down day today...
  • #1,059
  • Apr 27, 2010 5:16am Apr 27, 2010 5:16am
Quoting Acedup
We could be in for a down day today...
Agree with you there Acedup! Beautiful short from yesterday! Doing some analysis now!
Hero Traders Live to see their Accounts Die!
  • #1,060
  • Edited 5:42am Apr 27, 2010 5:28am | Edited 5:42am
The GU broke its weekly high yesterday and came was unable to go further, resulting in price rejection to the upside, as such we had strong selling.
Presently we are at the 50% level of last weeks high/low fib and the 19.1%(1.5330) of the last major upswing on the 15M. We could some degree of buying off this support level toward the 1.5390 or 1.5430 area before selling continues. Resistance is also at 1.5375. Closing below 1.5330 however, could lead to selling to the 1.5260 area which is strong support.
Attached Image (click to enlarge)
Click to Enlarge Name: GUTues.jpg Size: 422 KB
Hero Traders Live to see their Accounts Die!
0 traders viewing now