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Fibonacci Paradise

  • #521
  • May 23, 2010 8:56pm May 23, 2010 8:56pm
Quoting skong
Thom,
Like MD, I haven't tried mt5 yet.

I have done a couple of trades using the immediate high and they worked .
For this one, I went back further , entered short with 2 lots at the break of the zero. It cost me 230 pips. I think the 61.8 level was also not chosen well. ( Oops. The fib is upside down.)
Had I chosen the immediate high on that one, I would have got out with around 25 pips.

SK

What mate... that completed....and was moving on the up train... are you saying you took it from the 50 bounce? well lessoned learned eh? chuckle.

TK
  • #522
  • May 23, 2010 9:22pm May 23, 2010 9:22pm
Quoting ThomKnight
What mate... that completed....and was moving on the up train... are you saying you took it from the 50 bounce? well lessoned learned eh? chuckle.

TK
Hee Hee,
I read that wrong. I thought the down trend was continuing so I entered at the break of the zero after the 50.

I forgot to mention that trade was from early last week.

Oh Well,

SK
  • #523
  • May 23, 2010 9:40pm May 23, 2010 9:40pm
Quoting skong
Hee Hee,
I read that wrong. I thought the down trend was continuing so I entered at the break of the zero after the 50.

I forgot to mention that trade was from early last week.

Oh Well,

SK

well to be fair it worked and i put the fib on my charts as if i didnt know.. and it looked like it was bang on and turns out it was.. but there was some drawdown since you were in the face of the wind so to speak... i dont like doing that personally plus it give me an greater margin for making an error.


TK
  • #524
  • May 23, 2010 9:51pm May 23, 2010 9:51pm
Quoting ThomKnight
well to be fair it worked and i put the fib on my charts as if i didnt know.. and it looked like it was bang on and turns out it was.. but there was some drawdown since you were in the face of the wind so to speak... i dont like doing that personally plus it give me an greater margin for making an error.


TK
I removed the fib after I was stopped out. Now that you've mentioned it, I put it back on and yes, it did worked but the stop had to be behind the 61.8, with too big a DD for the tummy.

Cheers
SK
  • #525
  • May 23, 2010 11:42pm May 23, 2010 11:42pm
This is too good and too easy to not trade foe aussie traders. There is an earlier tgt i may take just get to bed . Cheers.

TK
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 27 KB
  • #526
  • May 23, 2010 11:53pm May 23, 2010 11:53pm
Quoting ThomKnight
This is too good and too easy to not trade foe aussie traders. There is an earlier tgt i may take just get to bed . Cheers.

TK
what made you change the pullback you fitted the 61.8 to. In your 30 minute chart you use the first pullback.
  • #527
  • May 24, 2010 1:18am May 24, 2010 1:18am
great tight little eu long entry.. sheesh tonight is rediculously easy. that said trades in auto pilot and to bed! If you dont make a lot of money today you need ta look in the mirror chuckle.

TK
  • #528
  • May 24, 2010 1:21am May 24, 2010 1:21am
Quoting Checkz
what made you change the pullback you fitted the 61.8 to. In your 30 minute chart you use the first pullback.

No real reason first will still complete. I just like the one hour more both will work choose one.
  • #529
  • May 24, 2010 1:23am May 24, 2010 1:23am
Quoting ThomKnight
No real reason first will still complete. I just like the one hour more both will work choose one.
Thanks
  • #530
  • May 24, 2010 1:28am May 24, 2010 1:28am
Quoting ThomKnight
No real reason first will still complete. I just like the one hour more both will work choose one.
Thom and Checkz your eyes must be falling out their sockets.

Checkz. As well as the 61.8 fit look at the backswing, back and up for longs.

Thom, would you take a break of the 61.8 candle with a stop under it?

MD.
Keep smiling
  • #531
  • May 24, 2010 1:37am May 24, 2010 1:37am
Quoting Misterdaz
Thom and Checkz your eyes must be falling out their sockets.

Checkz. As well as the 61.8 fit look at the backswing, back and up for longs.

Thom, would you take a break of the 61.8 candle with a stop under it?

MD.
what do you mean when you say back swing? or you talking about pulling a swing style fib
  • #532
  • May 24, 2010 1:38am May 24, 2010 1:38am
Quoting ThomKnight
great tight little eu long entry.. sheesh tonight is rediculously easy. that said trades in auto pilot and to bed! If you dont make a lot of money today you need ta look in the mirror chuckle.

TK
Thom,
Do you mean this tight ?

SK
Attached Image (click to enlarge)
Click to Enlarge Name: 2105 eu 1a.gif Size: 28 KB
  • #533
  • Edited 2:01am May 24, 2010 1:51am | Edited 2:01am
Quoting Checkz
what do you mean when you say back swing? or you talking about pulling a swing style fib
Yes Checkz. That aud fib is 2 fibs for the price of one.

A 61.8 style or a swing pulled back and up to previous resistance with confirmation off the 61.8.

I'm in the office now might try that one myself it is still hanging around.

MD.
Keep smiling
  • #534
  • May 24, 2010 2:06am May 24, 2010 2:06am
This is a swing fib to be sure. I've missed the meat of it. I'll wait for something else.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.png Size: 12 KB


MD.
Keep smiling
  • #535
  • May 24, 2010 2:14am May 24, 2010 2:14am
Quoting Misterdaz
This is a swing fib to be sure. I've missed the meat of it. I'll wait for something else.

Attachment

MD.
you havent missed anything... it wont fail... hence risk reward and pip are in consequential... enter on the break of the 0 as a 61.8

I entered since it was already triggered from a few other things. i NEVER ok 99/100 never enter with out a trigger first. after that is is fair play.

Skong. yes but i didnt need to use a fib for it but yes. appears my short fib from last week on eu was no good or no good right now. No bother.

Back to watching Mr Gibson crush skulls. Ciao.

TK
  • #536
  • Edited 2:33am May 24, 2010 2:19am | Edited 2:33am
Quoting ThomKnight
you havent missed anything... it wont fail... hence risk reward and pip are in consequential... enter on the break of the 0 as a 61.8

I entered since it was already triggered from a few other things. i NEVER ok 99/100 never enter with out a trigger first. after that is is fair play.

Skong. yes but i didnt need to use a fib for it but yes. appears my short fib from last week on eu was no good or no good right now. No bother.

Back to watching Mr Gibson crush skulls. Ciao.

TK
Are you watching braveheart you old b@sterd! I knew you was a scot, it's all lies!

EDIT: Sorry was that a bit strong? I meant it in a purely jovial way.
Keep smiling
  • #537
  • Edited 2:26am May 24, 2010 2:22am | Edited 2:26am
Quoting ThomKnight
you havent missed anything... it wont fail... hence risk reward and pip are in consequential... enter on the break of the 0 as a 61.8

I entered since it was already triggered from a few other things. i NEVER ok 99/100 never enter with out a trigger first. after that is is fair play.

Skong. yes but i didnt need to use a fib for it but yes. appears my short fib from last week on eu was no good or no good right now. No bother.

Back to watching Mr Gibson crush skulls. Ciao.

TK
Thom,
I've got to ask. I had the same fib on the aud/usd but I don't see no entry.
Not only that, I don't see how you can be so sure that it was going up.



SK
  • #538
  • May 24, 2010 2:27am May 24, 2010 2:27am
Quoting skong
Thom,
I've got to ask. I had the same fib on the aud/usd but I don't see no entry.
Not only that, I don't see how are you can be so sure that it was going up.



SK
Skong, it's a swing fib. From my understanding of it once it confirms off inner support you take the zero break. You could probably get in earlier for a more gambly trade if you mangae your stop accordingly.

MD.
Keep smiling
  • #539
  • May 24, 2010 2:40am May 24, 2010 2:40am
For some odd reason I can trade a swing fib better than I can this 61.8 method. But I want to learn this method as well. My problem is determining the start and end of a swing for example on the Aud/Usd. We have our fib anchored at the last low candle well do we wait on going short until this last low we are anchored on is broken or what.
  • #540
  • May 24, 2010 2:41am May 24, 2010 2:41am
Quoting Misterdaz
Skong, it's a swing fib. From my understanding of it once it confirms off inner support you take the zero break. You could probably get in earlier for a more gambly trade if you mangae your stop accordingly.

MD.
I'll leave that one for bravehearts .

SK
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