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Fibonacci Paradise

  • #241
  • May 4, 2010 6:59am May 4, 2010 6:59am
I saw a lovely pair at lunchtime.
Keep smiling
  • #242
  • May 4, 2010 7:09am May 4, 2010 7:09am
Quoting Misterdaz
Thom, the single candle fibbing is an excellent method for me, being a trader on a desk. Setups must occur more often. I think I need to spend some time in Forex Tester. I assume the 61.8 is also key in this method?

MD.
It appears we need respect of one of the inner fibs and a pierce also?

http://www.forexfactory.com/showpost...postcount=4311
  • #243
  • May 4, 2010 7:20am May 4, 2010 7:20am
That is exactly the post Ive been looking at mate. Basiclly we fib a candle top to bottom and watch what follows. Due to the short term nature of these you can often get the respect and pierce all in one. There's still more to discover like which inner respect do we need, does it matter which one? Also I'm wondering if we can use more than one candle with our fib....

MD.
Keep smiling
  • #244
  • May 4, 2010 7:21am May 4, 2010 7:21am
When you fib single candles make sure you have the ray option selected in your fib properties.

MD.
Keep smiling
  • #245
  • May 4, 2010 7:50am May 4, 2010 7:50am
Quoting Misterdaz
That is exactly the post Ive been looking at mate. Basiclly we fib a candle top to bottom and watch what follows. Due to the short term nature of these you can often get the respect and pierce all in one. There's still more to discover like which inner respect do we need, does it matter which one? Also I'm wondering if we can use more than one candle with our fib....

MD.
also... if you are looking for a long... fix the top if you are looking for a short fix the bottom... and you can move the fib on the candle..if you do not get respect on the o-100 top and bottom of candle...

for example... looking for a short... move the 38 to the top of the candle and look for respect... also you can ray this BACKWARDS to see if it works..then if nothing look at the 50... then the 61.8

conversely... assuming you get a cand that gets respect off of a 0=-100 on the body of the candle... as the target gets taken... you can move the fib to see what happens. Ie. target breached... see what it looks like with the 61.8 as the top of the candle..

then maybe the 50 or 38. just something to muck about with.

TK
  • #246
  • May 4, 2010 7:56am May 4, 2010 7:56am
Quoting ThomKnight
also... if you are looking for a long... fix the top if you are looking for a short fix the bottom... and you can move the fib on the candle..if you do not get respect on the o-100 top and bottom of candle...

for example... looking for a short... move the 38 to the top of the candle and look for respect... also you can ray this BACKWARDS to see if it works..then if nothing look at the 50... then the 61.8

conversely... assuming you get a cand that gets respect off of a 0=-100 on the body of the candle... as the target gets taken... you can...
Something like this? Or am I way off?
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  • #247
  • May 4, 2010 8:05am May 4, 2010 8:05am
http://www.forexfactory.com/showpost...&postcount=825
  • #248
  • May 4, 2010 8:13am May 4, 2010 8:13am
Quoting ThomKnight
also... if you are looking for a long... fix the top if you are looking for a short fix the bottom... and you can move the fib on the candle..if you do not get respect on the o-100 top and bottom of candle...

for example... looking for a short... move the 38 to the top of the candle and look for respect... also you can ray this BACKWARDS to see if it works..then if nothing look at the 50... then the 61.8

conversely... assuming you get a cand that gets respect off of a 0=-100 on the body of the candle... as the target gets taken... you can...
The mind boggles!! You truly are a gent , I must owe you a shitload of kebabs!

MD.
Keep smiling
  • #249
  • May 4, 2010 8:17am May 4, 2010 8:17am
Quoting bartstop
Something like this? Or am I way off?
That's how I would interperet it so far.

MD.
Keep smiling
  • #250
  • May 4, 2010 11:08am May 4, 2010 11:08am
You see this?
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  • #251
  • May 4, 2010 11:31am May 4, 2010 11:31am
Quoting bartstop
You see this?
And then this?
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  • #252
  • May 4, 2010 12:04pm May 4, 2010 12:04pm
You know I'm bored when I start posting charts for no reason. 61 - pierce - 50.
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  • #253
  • May 4, 2010 12:54pm May 4, 2010 12:54pm
Quoting bartstop
And then this?
i like this one... the other ones not so much i dont think.
  • #254
  • May 4, 2010 1:30pm May 4, 2010 1:30pm
Quoting ThomKnight
i like this one... the other ones not so much i dont think.
I've noticed you lean towards the smaller fibs (less candles). I guess there is less chance of fibbing the "noise" if you know what I mean?

I think my stategy needs adjusting.


Bartstop
  • #255
  • May 4, 2010 1:56pm May 4, 2010 1:56pm
Quoting bartstop
You know I'm bored when I start posting charts for no reason. 61 - pierce - 50.
If price heads straight for the zero on this I'd have a crack.

MD.
Keep smiling
  • #256
  • May 4, 2010 2:04pm May 4, 2010 2:04pm
I must say I'm starting to lean towards the shorter candle fib setups. Shorter targets but I'd guess less time at risk = less stress.

MD.
Keep smiling
  • #257
  • May 4, 2010 2:18pm May 4, 2010 2:18pm
Quoting Misterdaz
I must say I'm starting to lean towards the shorter candle fib setups. Shorter targets but I'd guess less time at risk = less stress.

MD.
Me too! I started fibbing 8 hr single candles watching the swing on the 60 minute and trading the 15 minute. I choose a longer timeframe because I work and many times miss trades.
  • #258
  • May 4, 2010 2:34pm May 4, 2010 2:34pm
Quoting Checkz
Me too! I started fibbing 8 hr single candles watching the swing on the 60 minute and trading the 15 minute. I choose a longer timeframe because I work and many times miss trades.
The fibs work on all timeframes. My least stressful are the orders I set just before I go to bed. LOL.

Nice to see you here Checkz anyway, where's that Compass...

MD.
Keep smiling
  • #259
  • May 4, 2010 2:54pm May 4, 2010 2:54pm
You mentioned something the other day re bad broker data and MT4. Is there any brokers/trading platforms that you would recomend?

MD.
Keep smiling
  • #260
  • May 4, 2010 5:57pm May 4, 2010 5:57pm
I know you guys don't trade this pair but just for the record I'm posting an updated chart as I believe it was a beauuutiful setup, please correct me if I'm wrong.

Oh by the way, I found a post of Scotty B. that insinuates that ThomKnight is in fact Skunny!
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