Fibonacci Paradise | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Are we living in a fool's paradise? 8 replies

Back From Paradise: Lessons to Learn 19 replies

fibonacci 4 replies

Attachments: Fibonacci Paradise
Exit Attachments

Fibonacci Paradise

  • #141
  • Apr 28, 2010 4:21pm Apr 28, 2010 4:21pm
To me this is what I consider to be a perfect setup because I am more of a swing trader. So when I see past resistance penetrated then a retracement to the 38.2, 50 or 61.8 I look forward to getting in on the zero line break and sometime a little earlier. This is the daily view on Gbp/Jpy but im watching it on the one hour and it seems to be facing some resistance at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: New Chart.JPG Size: 62 KB
  • #142
  • Apr 28, 2010 4:31pm Apr 28, 2010 4:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: New Chart.JPG Size: 67 KB
  • #143
  • Apr 28, 2010 4:52pm Apr 28, 2010 4:52pm
Quoting Misterdaz
I've been thinking about this comment from Thom, it's been eating at me. Do we really need the larger fib? Look at it another way, I originally traded with one fib on the hour, totally oblivious to the larger timeframe and did ok.

Just my thoughts is all, could be crap.

MD.
I could see trading in to 4hr inner fibs if you had a really strong setup. But not the 100.

Personaly I would rather skip a trade than risk a loser.

I think one of the most important traits a good trader should have is patience. Wait for the obvious set up, go in heavy and get out fast. Seems to be working for me. I think it works for Thom to.

Bartstop
  • #144
  • Apr 28, 2010 5:23pm Apr 28, 2010 5:23pm
Quoting bartstop
I could see trading in to 4hr inner fibs if you had a really strong setup. But not the 100.

Personally I would rather skip a trade than risk a loser.

I think one of the most important traits a good trader should have is patience. Wait for the obvious set up, go in heavy and get out fast. Seems to be working for me. I think it works for Thom to.

Bartstop
As always I have doubts now and then and question myself. Am I overcomplicating proceedings? Then I look at the pros. The 4h fib does give direction and a target to aim for and I have found it useful in my job when I am questioned on my view of where currencies are going.

It's obviously working for you mate and I cant say it hasn't worked for me.

Anyway, I have to help out a certain Mr. checkz now!

MD
Keep smiling
  • #145
  • Apr 28, 2010 5:34pm Apr 28, 2010 5:34pm
I'll use the 4h on the most recent EU swing.

Chart no. 1

We start pulling from the high and settle the 61.8 on the first clear pullback. Is price still within that fib framework? No!

Attached Image (click to enlarge)
Click to Enlarge Name: checkzA.JPG Size: 76 KB


Chart no. 2

We move the fib on to the next obvious pullback. Is price still within the fib? No again. If you said yes put your glasses on you crazy fool!

Attached Image (click to enlarge)
Click to Enlarge Name: checkzB.JPG Size: 78 KB


Chart no. 3

We move the fib on to the next respect for the 61.8. Price remains in side this fib, for now! Look how it has pierced the zero, pulled back to the 38 and then headed down on it's way. With all the mess in Europe going on it really doesn't surprise me.

Attached Image (click to enlarge)
Click to Enlarge Name: checkzC.JPG Size: 74 KB


I hope this helps and is what you wanted.

MD.
Keep smiling
  • #146
  • Apr 28, 2010 6:40pm Apr 28, 2010 6:40pm
Quoting Misterdaz
I'll use the 4h on the most recent EU swing.

Chart no. 1

We start pulling from the high and settle the 61.8 on the first clear pullback. Is price still within that fib framework? No!

Attachment

Chart no. 2

We move the fib on to the next obvious pullback. Is price still within the fib? No again. If you said yes put your glasses on you crazy fool!

Attachment

Chart no. 3

We move the fib on to the next respect for the 61.8. Price remains in side this fib, for now! Look how it has pierced the zero, pulled back...
Thanks for the quick response but I understand the pulling and fitting of the 61.8. My question is When do you change the swing high or swing low you anchor your fib on. For example I have seen some charts with the fib anchored at the current low/high and not the past low/high. So when do you change your anchor? Oh yeah you didn't complement me on my last chart I posted I finally firgured out how to change the settings on my platform to put the 61.8 in the place of the 38.2! lol.
  • #147
  • Apr 29, 2010 1:30am Apr 29, 2010 1:30am
Quoting Checkz
Thanks for the quick response but I understand the pulling and fitting of the 61.8. My question is When do you change the swing high or swing low you anchor your fib on. For example I have seen some charts with the fib anchored at the current low/high and not the past low/high. So when do you change your anchor? Oh yeah you didn't complement me on my last chart I posted I finally firgured out how to change the settings on my platform to put the 61.8 in the place of the 38.2! lol.
Well done Checkz, I hadn't noticed you'd fixed your fib. What was the problem?

With the moving the fib question, which fib do you mean, the large one or the smaller ones?

MD.
Keep smiling
  • #148
  • Apr 29, 2010 1:32am Apr 29, 2010 1:32am
Quoting Misterdaz
Well done Checkz, I hadn't noticed you'd fixed your fib. What was the problem?

With the moving the fib question, which fib do you mean, the large one or the smaller ones?

MD.
Small one
  • #149
  • Apr 29, 2010 7:24am Apr 29, 2010 7:24am
Checkz, I have no set rule of where to put it other than from swing high to swing or swing low to swing low. I move it around within the larger fib until i find something i like. I'm currently looking for a couple of setups before I take a trade, I search for them with the smaller fib.

MD.
Keep smiling
  • #150
  • Apr 29, 2010 9:20am Apr 29, 2010 9:20am
It's kinda quiet today.
  • #151
  • Apr 29, 2010 10:02am Apr 29, 2010 10:02am
Booo!!
Keep smiling
  • #152
  • Apr 29, 2010 10:07am Apr 29, 2010 10:07am
Quoting Misterdaz
Booo!!
You trying to scare all the Euro buyers?
  • #153
  • Apr 29, 2010 10:33am Apr 29, 2010 10:33am
You're not short like me are you?
Keep smiling
  • #154
  • Apr 29, 2010 10:36am Apr 29, 2010 10:36am
Quoting Misterdaz
You're not short like me are you?
-110, I hope TK was right about the fibs always completing.
  • #155
  • Apr 29, 2010 10:38am Apr 29, 2010 10:38am
Have you seen this?

Attached Image (click to enlarge)
Click to Enlarge Name: eu290410.png Size: 13 KB
Keep smiling
  • #156
  • Apr 29, 2010 10:40am Apr 29, 2010 10:40am
I got short last night at 1.3204, I don't know why. It wasn't off a fib setup. I think it was Jack Daniels.

MD.
Keep smiling
  • #157
  • Apr 29, 2010 11:01am Apr 29, 2010 11:01am
Quoting Misterdaz
Have you seen this?

Attachment
How about this?
Attached Image (click to enlarge)
Click to Enlarge Name: eu 138.gif Size: 17 KB
  • #158
  • Apr 29, 2010 11:20am Apr 29, 2010 11:20am
We might have a long wait for that to pan out. I prefer it to the weekly though.
Keep smiling
  • #159
  • Apr 29, 2010 12:01pm Apr 29, 2010 12:01pm
The last candle was a pip perfect rejection off the 61.8, I'd say that's a good sign.
  • #160
  • Apr 29, 2010 1:16pm Apr 29, 2010 1:16pm
I don't know if this fib has any tradable meaning but it has respect going on all over the place and, if I'm not mistaken, it's pointing long.

Attached Image
Keep smiling
0 traders viewing now