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Fibonacci Paradise

  • #401
  • May 18, 2010 5:40pm May 18, 2010 5:40pm
We could be looking at a rejection at 1.2132, just a heads up.
Attached Image (click to enlarge)
Click to Enlarge Name: eu d1.gif Size: 23 KB
  • #402
  • May 18, 2010 5:40pm May 18, 2010 5:40pm
I've had to zoom out to monthly to find the next stop for EU it's so knackered there is no price on the left until you get that far out. 1.1650 I think next and I suppose parity the way it is going.

MD.
Keep smiling
  • #403
  • May 18, 2010 5:46pm May 18, 2010 5:46pm
Next support which I imagine wont see the night through is 1.2153 on the hour.
Keep smiling
  • #404
  • May 18, 2010 5:51pm May 18, 2010 5:51pm
I've mentioned it in an earlier post but to save you the time. How do you gauge how many pips to aim for? I 've been playing with 3 and out and been doing very well. The danger is one big loser will wipe out many trades. I get the impression from your previous posts that you do not aim for the 138 as a target, snipet I believe is one of your terms. I suppose one must know they are going to win and that is all thats needed.

MD.
Keep smiling
  • #405
  • May 18, 2010 5:53pm May 18, 2010 5:53pm
Quoting Misterdaz
Next support which I imagine wont see the night through is 1.2153 on the hour.
I tweaked my 0 line just a hair and it's to the pip on the 138. Might be time for another retrace.

If the 138 fails do we start pulling the 100 higher?


Bartstop
  • #406
  • May 18, 2010 5:54pm May 18, 2010 5:54pm
Quoting bartstop
I tweaked my 0 line just a hair and it's to the pip on the 138. Might be time for another retrace.

If the 138 fails do we start pulling the 100 higher?


Bartstop

Like this?
Attached Image (click to enlarge)
Click to Enlarge Name: eu 12675.gif Size: 18 KB
  • #407
  • May 18, 2010 6:02pm May 18, 2010 6:02pm
No, I think that 100 will stay on the last high, there's no where else to put it. I think we have to start looking on higher timeframes. I can't get that exact hit on the 138, I'm a few pips out.

MD.
Keep smiling
  • #408
  • May 18, 2010 6:06pm May 18, 2010 6:06pm
If I go out to weekly I can find a target at 1.2021. Then monthly of course down at 1.1650.
Keep smiling
  • #409
  • May 18, 2010 6:06pm May 18, 2010 6:06pm
Quoting Misterdaz
No, I think that 100 will stay on the last high, there's no where else to put it. I think we have to start looking on higher timeframes. I can't get that exact hit on the 138, I'm a few pips out.

MD.
Like I said, I had to cheat it just a hair but the rest still looks good.
Attached Image (click to enlarge)
Click to Enlarge Name: eu cheat.gif Size: 17 KB
  • #410
  • May 18, 2010 6:11pm May 18, 2010 6:11pm
Quoting bartstop
Like I said, I had to cheat it just a hair but the rest still looks good.
So now your a crafty jammy lucky cheating bast...

MD.
Keep smiling
  • #411
  • May 18, 2010 6:13pm May 18, 2010 6:13pm
Quoting Misterdaz
So now your a crafty jammy lucky cheating bast...

MD.
With fuzzy dice...........
  • #412
  • May 18, 2010 6:16pm May 18, 2010 6:16pm
I still think you might want to find some respect in these fibs or pull 61.8 fibs within these looking in the correct direction.

MD.
Keep smiling
  • #413
  • May 18, 2010 6:16pm May 18, 2010 6:16pm
Quoting Misterdaz
I've mentioned it in an earlier post but to save you the time. How do you gauge how many pips to aim for? I 've been playing with 3 and out and been doing very well. The danger is one big loser will wipe out many trades. I get the impression from your previous posts that you do not aim for the 138 as a target, snipet I believe is one of your terms. I suppose one must know they are going to win and that is all thats needed.

MD.
um the less pips the better mate. My primary concern is time. I just like to get in and out. It really depends on the trade. if i get a nice rejection after a pierce say on the 50 or what not... i will enter there and let it ride.

One of my first whoops with fibs was trying to trade them like I was aiming for a million pips. chaining letting things run etc. Now it depends on what tf you enter on . I had a few thousand pip Gy trades in my day and i have had 10 pippers.

I try to shoot for double the spread on mt4. realistically just figure out how much you want to make and be patient. I am sure you are all familiar with compunding etc.. so something as mild as 30% a week is all you need.

If you are getting wiped out by one bad trade... start using SLS based on fib levels 9 out 10 if you enter and it cruises past your 61.8 something is foul in denmark.

Skunny mentioned... that sometimes even if he knows he is right... he will just get out... or on a retraces get out and get back in at a better price. trade management is personal. In my own trading... i really just look at the mkt and if anything pokes its head out i take it. I used to focus on a pair with fibs and try to find it... now i wait for it to find me. not examine the market and try to find the best way to trade it at the moment. so whatever is increasing your acct keep doing it. 20 pips is a solid starting goal

Bartstop.. sure i know what you are talking about mate.

TK
  • #414
  • May 18, 2010 6:20pm May 18, 2010 6:20pm
Quoting bartstop
Like I said, I had to cheat it just a hair but the rest still looks good.
you CAN pull the 61.8 BACK and down like that for short back and up for long. I see 61.8 38.2 twice and a 100 so if you found that before hand trade away. You know your fib is on because it will be obvious.

Dont get too jammed up looking for turns or getting paralyzed thinking the fib will always reverse on you though.
  • #415
  • May 18, 2010 6:22pm May 18, 2010 6:22pm
Here's GY. Pulling in that nature looks like a swing to me but look towards the right of the fib, price comes up and nearly kisses off the 38 then down through the zero. That respect and break may be your trigger.

Attached Image (click to enlarge)
Click to Enlarge Name: gy180510.JPG Size: 84 KB


Edit: this is not in response to anything Thom has said. I think I was making this post while Thom was typing his.
Keep smiling
  • #416
  • May 18, 2010 6:22pm May 18, 2010 6:22pm
Quoting ThomKnight
if i get a nice rejection after a pierce say on the 50 or what not... i will enter there and let it ride

TK
That is exactly how I've gotten some of my best trades. As soon as the last respecting candle closes, I get in. A more conservative entry would be the break of that candle as I have seen a couple fail.



Bartstop
  • #417
  • May 18, 2010 6:34pm May 18, 2010 6:34pm
Quoting ThomKnight
Bartstop.. sure i know what you are talking about mate.

TK
Thom, you have referred to "tracking price" several times over the last 6 months. Is that style of fibbing what you were talking about?


Bartstop
  • #418
  • May 18, 2010 6:38pm May 18, 2010 6:38pm
As usual you are a gent!

Thanks Thom.

Night all.

MD.
Keep smiling
  • #419
  • May 18, 2010 6:41pm May 18, 2010 6:41pm
Quoting Misterdaz
Here's GY. Pulling in that nature looks like a swing to me but look towards the right of the fib, price comes up and nearly kisses off the 38 then down through the zero. That respect and break may be your trigger.

Attachment

Edit: this is not in response to anything Thom has said. I think I was making this post while Thom was typing his.

Look at this. I hope it pulls back to respect 38 or 50 so I can catch the southbound train.

I don't know if the inner respect is as important on this style of fibbing. I assume it is.


Bartstop
Attached Image (click to enlarge)
Click to Enlarge Name: gy south.gif Size: 20 KB
  • #420
  • May 18, 2010 9:41pm May 18, 2010 9:41pm
respect for me is all important mate. There is a style of using skunny fibs to methodically track price but that is tedious for me.


TK
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