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Fibonacci Paradise

  • #301
  • May 6, 2010 4:22pm May 6, 2010 4:22pm
Quoting bartstop
Checkz, you asked about the 4hr fib right? That's what I was refering to. There's no need to update the 4hr fib. It's still good.
I thought the Aud/Usd on the first page was a 4hr chart but it's a daily. My question is you said that Aud/Usd hit to the 138 pip on the four hour but Im trying to see which high do you have your fib anchored to
  • #302
  • May 6, 2010 4:56pm May 6, 2010 4:56pm
Quoting Checkz
I thought the Aud/Usd on the first page was a 4hr chart but it's a daily. My question is you said that Aud/Usd hit to the 138 pip on the four hour but Im trying to see which high do you have your fib anchored to
Checkz, you're right it is a daily.

I don't anchor the 0 line if that's what you're asking.

This is what I do.

1. Anchor the 100 line.
2. Align the 61.8 with the first pullback.
3. Check to see if price has hit 138. If it has, move the 61.8 up to the next pullback and check 138 again. Keep doing that until you find a fib that price hasn't hit 138 yet.

If you find a fib that price has hit 138, but didn't pierce. Leave that fib because it's still valid and price is very likely to turn around. That is what we have on the AUDUSD.

It's hard to explain and I'm sure it's harder to understand. Maybe MisterDaz will be nice enough to make a video?


Bartstop
  • #303
  • May 6, 2010 5:37pm May 6, 2010 5:37pm
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...
Hi there Checkz. I showed you how we pull the larger fibs in the above post.

Have a good evening.

MD.
Keep smiling
  • #304
  • May 6, 2010 5:53pm May 6, 2010 5:53pm
This should help.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au 1.gif Size: 25 KB
Click to Enlarge Name: au 2.gif Size: 25 KB
Click to Enlarge Name: au 3.gif Size: 26 KB
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Click to Enlarge Name: au 5.gif Size: 24 KB
  • #305
  • May 6, 2010 5:59pm May 6, 2010 5:59pm
Quoting Misterdaz
Hi there Checkz. I showed you how we pull the larger fibs in the above post.

Have a good evening.

MD.
Yeah I know but I got confused but I see it now.
  • #306
  • May 6, 2010 6:02pm May 6, 2010 6:02pm
Quoting bartstop
This should help.
thanks alot I got tangled up
  • #307
  • May 6, 2010 7:18pm May 6, 2010 7:18pm
Quoting Checkz
thanks alot I got tangled up
Just to clarify. The above concept applies to all timeframes.

Also, don't expect the 138 rejection to happen every time price decides to reverse. This AU chart was just a good example.

Let me know if you have any other questions.


Bartstop


PS - MisterDaz wears ladies underpants.
  • #308
  • May 6, 2010 10:02pm May 6, 2010 10:02pm
Quoting bartstop
Just to clarify. The above concept applies to all timeframes.

Also, don't expect the 138 rejection to happen every time price decides to reverse. This AU chart was just a good example.

Let me know if you have any other questions.


Bartstop


PS - MisterDaz wears ladies underpants.
you guys rock!!!!
  • #309
  • May 7, 2010 1:11am May 7, 2010 1:11am
Quoting bartstop


Bartstop


PS - MisterDaz wears ladies underpants.
I have so many women take them off and throw them at me I don't know what else to do with them.

MD.
Keep smiling
  • #310
  • May 7, 2010 3:03am May 7, 2010 3:03am
Was that you in NY with your finger on the button???

Now you know why GY crashed.

MD.
Keep smiling
  • #311
  • May 7, 2010 5:01am May 7, 2010 5:01am
Well chaps after 3 solid days of good work I have managed to shoot a hole in my P&L, and, confidence. I have adopted the candle fib approach of late but today I fear I've dropped the baton. If you look at my first chart I fibbed the arrowed candle looking for shorts, never mind how I adjusted it. I entered at green where there was an 18 pip drop which I did not take, I was looking for target, hence I failed. I feel If I stood back and followed price I may have been looking in the wrong direction. Would you have bought EUR today???

Attached Image (click to enlarge)
Click to Enlarge Name: eu070510.png Size: 13 KB


If I had pulled this fib off the low first? I still don't know if I could bring myself to buy EUR at the moment but maybe I would have known to at least stand aside. There was also a tastier fib than this one if you pull the fib back down a bit.

Attached Image (click to enlarge)
Click to Enlarge Name: eu070510a.png Size: 13 KB


At least I only sold a quarter of a million and not a quarter of a billion...

Still much to learn methinks.

MD.
Keep smiling
  • #312
  • May 7, 2010 6:35am May 7, 2010 6:35am
Quoting Misterdaz
Would you have bought EUR today???
Yep.





Bartstop
Attached Image (click to enlarge)
Click to Enlarge Name: eu 61 50.gif Size: 17 KB
  • #313
  • May 7, 2010 6:48am May 7, 2010 6:48am
As best I can tell, this is where we're at on GY.
Attached Image(s) (click to enlarge)
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  • #314
  • May 7, 2010 7:04am May 7, 2010 7:04am
Quoting bartstop
Yep.





Bartstop
It just had to be you didn't it. Give me my money back!

Really, did you go long?

MD.
Keep smiling
  • #315
  • May 7, 2010 7:08am May 7, 2010 7:08am
Quoting Misterdaz
It just had to be you didn't it. Give me my money back!

Really, did you go long?

MD.
Yea I did. I placed the order right before I went to bed. Isn't that a good feeling when you wake up and your trade completed. It's kinda like Xmas when I was a kid.

Anyways, you like this for EU?
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4hr.gif Size: 18 KB
  • #316
  • May 7, 2010 7:13am May 7, 2010 7:13am
Quoting bartstop
Yea I did. I placed the order right before I went to bed. Isn't that a good feeling when you wake up and your trade completed. It's kinda like Xmas when I was a kid.

Anyways, you like this for EU?
If I tweak it up just slightly I get a 38 hit and 2 0 hits.
  • #317
  • May 7, 2010 7:16am May 7, 2010 7:16am
Quoting bartstop
Yea I did. I placed the order right before I went to bed. Isn't that a good feeling when you wake up and your trade completed. It's kinda like Xmas when I was a kid.

Anyways, you like this for EU?
You're a braver man than me looking for longs on EU. There again you read the market better than I did, I take my hat off to you, but not my knickers!

MD.
Keep smiling
  • #318
  • May 7, 2010 7:27am May 7, 2010 7:27am
Quoting Misterdaz
You're a braver man than me looking for longs on EU. There again you read the market better than I did, I take my hat off to you, but not my knickers!

MD.
I wonder if we should limit our counter trend trades to:

100-61-50
100-61-pierce-38
100-61-pierce-50

I guess that's all we should really be trading anyways.

Bartstop
  • #319
  • May 7, 2010 7:32am May 7, 2010 7:32am
Quoting bartstop
I wonder if we should limit our counter trend trades to:

100-61-50
100-61-pierce-38
100-61-pierce-50

I guess that's all we should really be trading anyways.

Bartstop
That is all I trade, when I'm not palying with single candle fibs.

Fantastic payroll number!
Keep smiling
  • #320
  • May 7, 2010 8:11am May 7, 2010 8:11am
Quoting Misterdaz
That is all I trade, when I'm not palying with single candle fibs.

Fantastic payroll number!
Yea but that unemployment rate doesn't want to come down.
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