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Fibonacci Paradise

  • #561
  • May 25, 2010 2:10am May 25, 2010 2:10am
Quoting Misterdaz
Cockney rhyming slang me ole china.
Does that mean we are no longer going up on the Aud/Usd
  • #562
  • May 25, 2010 3:11am May 25, 2010 3:11am
If you are going by Thom's recent AUD chart, it never triggered long from where I am standing so hope, unlike me who got a bit over exuberant, you didn't go long because risk is coming off big time since yesterday.

What it means Checkz is people are taking risk ccy pairs off the table so long cable or EUR or AUD are off the cards atm.

Be careful me ole china (china plate, mate!)

MD.
Keep smiling
  • #563
  • May 25, 2010 3:27am May 25, 2010 3:27am
Quoting Misterdaz
If you are going by Thom's recent AUD chart, it never triggered long from where I am standing so hope, unlike me who got a bit over exuberant, you didn't go long because risk is coming off big time since yesterday.

What it means Checkz is people are taking risk ccy pairs off the table so long cable or EUR or AUD are off the cards atm.

Be careful me ole china (china plate, mate!)

MD.
I used the 30 minute chart and it was triggered according to my chart.I don't understand what happened. Thomknight even told me that I could still use the low he showed on his 30 minute chart. Boy did I get screwed!
  • #564
  • May 25, 2010 6:29am May 25, 2010 6:29am
Can you guys do me a favor? Can you post the high for EU on May 21st and what broker you are using. I think I have some bad data.

Thanks.



Bartstop
  • #565
  • May 25, 2010 7:24am May 25, 2010 7:24am
I'll have a look when I get back from lunch. I have 2 brokers I can check, I also have Bloomberg and Reuters.

MD.
Keep smiling
  • #566
  • May 25, 2010 8:09am May 25, 2010 8:09am
On all 4 feeds I have 1.2672 mate.

Brokers being Alpari UK and FX Pro. I have also included Bloomberg and Reuters.

MD.
Keep smiling
  • #567
  • Edited 11:28am May 25, 2010 9:24am | Edited 11:28am
Is this the next profile to head down? 61.8 - 50 - pierce - pullback to 38 atm.....

Attached Image (click to enlarge)
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MD.

Edit: the 38 didn't hold, let's see if the 50 does.
Keep smiling
  • #568
  • May 25, 2010 2:14pm May 25, 2010 2:14pm
Heya,

good old aud... and eur.. hahaha I am still long just one thing when you are moving piss into the wind of a major change.. dont expect things to come easy. I take those few pips it pierced to the downside as data issues as aways could have missed something but those fibs look rock solid to me. I trest that as an excellent spot to re join the long.

It just take a bit to change the direction of the QE II if you catch my drift hence I follow price i have been in and out like a sneaky vicar on most usd pair atm.

TK
  • #569
  • May 25, 2010 2:43pm May 25, 2010 2:43pm
It boggle my brain... but i spose i started the Aud thing.. i really see no reason to trade it generally unless you have a USD account and are trying to suck the life out of your greenbacks i think it is like 830$ a lot vs about 1500... but there is a set for whomeever took a drubbing on that downmove.


TK

EDIT : as always trade your own charts.. i can thorw up charts but I cannae tell you how to trade them.
Attached Image (click to enlarge)
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  • #570
  • May 25, 2010 3:15pm May 25, 2010 3:15pm
Evening Thom. I hope you haven't been out crushing Englishmens skulls..

I traded AUD at work yesterday and made few pips off a swing fib somewhere in there. I didn't trade your earlier fib as for me it hadn't pierced after 61.8.

When you say you follow price do you mean up and down each swing? I think this is something that myself and some of the other guys need to smooth out before we can really nail this stuff. If you have shown us this before then apologies we have probably overlooked it. Just point us to the post.

I hope this isn't a stupid question.

MD.
Keep smiling
  • #571
  • May 25, 2010 3:36pm May 25, 2010 3:36pm
Quoting Misterdaz
Evening Thom. I hope you haven't been out crushing Englishmens skulls..

I traded AUD at work yesterday and made few pips off a swing fib somewhere in there. I didn't trade your earlier fib as for me it hadn't pierced after 61.8.

When you say you follow price do you mean up and down each swing? I think this is something that myself and some of the other guys need to smooth out before we can really nail this stuff. If you have shown us this before then apologies we have probably overlooked it. Just point us to the post.

I hope this isn't a stupid...
there are no stupid questions only the dutch.. chuckle all kidding aside. Well in this case... say we have a fib with a 500 pip range.. how do you get into to target? I follow price around to maximize my entries so perhaps i have a long triggered fib i could be in an out of it multiple times.. or i set a worst case risk and let it fly.

in the case of the AUD. following price would have let you know you were long but gotten you out and looking either short of for more longs multiople times in stead of suffering massive drawdown or in this case you may have been stopped all together.

TK
  • #572
  • May 25, 2010 3:47pm May 25, 2010 3:47pm
I understand we are long, setting a trade and letting it fly, I suppose I would factor my drawdown to the other side of the fib.

To follow price am I right by saying I keep moving my 61.8 back as price comes back down as in the case of the aud this causing previous candle to pierce the zero?

Did you know the Dutch love the English, unlike the Scots?
Lol.

MD.
Keep smiling
  • #573
  • May 25, 2010 3:59pm May 25, 2010 3:59pm
Quoting Misterdaz
Did you know the Dutch love the English, unlike the Scots?
Lol.

MD.
They also speak English better than the Yanks all the Dutch I have worked with over in Rotterdam have been good guys.
20 pips a day isn't too much to ask . . .
  • #574
  • May 25, 2010 4:01pm May 25, 2010 4:01pm
Most of the Dutch people I have met speak better English than me!

How you doing Raptor?

MD.
Keep smiling
  • #575
  • May 25, 2010 4:04pm May 25, 2010 4:04pm
When you have price signalled to a target... this is something i ahve found helpful. In the case of pairs right now where we are fighting a mass of sells understand it wont come easy.. and sometimes generally it just gets rejected once signalled it will get there but being aware of sr in the region will let you know it may take some time to get there.

O the gu chart from years ago. if you set you take profit at near term resistance.. well you lose out on 15 pips or so but you are looking for a rejection.. and in this case miss out on massive dd as well... see how that line serves moving forward as well...


Same thing with aud. This is just a tweak i have picked up. It doesnt mean your target is wrong or your fib will fail but rather.. do you want to RIGHT in the face of pentetial drawdown.. OR would you like to bank profits and get in again or maybs just miss on on a few pips.. food for thought. Mess around with this it might help out.

TK
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  • #576
  • May 25, 2010 4:19pm May 25, 2010 4:19pm
Quoting Misterdaz
I understand we are long, setting a trade and letting it fly, I suppose I would factor my drawdown to the other side of the fib.

To follow price am I right by saying I keep moving my 61.8 back as price comes back down as in the case of the aud this causing previous candle to pierce the zero?

Did you know the Dutch love the English, unlike the Scots?
Lol.

MD.
You can do a multitude of things if you choose track swings run 61.8's etc.. i almost NEVER enter a trade where i set my bail out at the 0 or 100... i look for entries inside of the fib and get in and out.

TK

Edit : I had no quarrel with the Dutch until you just told me they don't fancy the Scots.. chuckle. Also i would like to point out that that Aud "disaster was really the best entry possible in disguise
  • #577
  • May 25, 2010 4:44pm May 25, 2010 4:44pm
Quoting Misterdaz
Most of the Dutch people I have met speak better English than me!

How you doing Raptor?

MD.
Hi Daz, not doing so bad thanks, I have a Fib back on my charts now still on Demo but getting there I think.
20 pips a day isn't too much to ask . . .
  • #578
  • May 25, 2010 4:50pm May 25, 2010 4:50pm
Quoting ThomKnight
TK

Edit : I had no quarrel with the Dutch until you just told me they don't fancy the Scots.. chuckle.
I think he meant that the Scots don't love the English . . . Lost in Translation . . . what a weird film
20 pips a day isn't too much to ask . . .
  • #579
  • May 25, 2010 4:50pm May 25, 2010 4:50pm
Quoting ThomKnight
You can do a multitude of things if you choose track swings run 61.8's etc.. i almost NEVER enter a trade where i set my bail out at the 0 or 100... i look for entries inside of the fib and get in and out.

TK

Edit : I had no quarrel with the Dutch until you just told me they don't fancy the Scots.. chuckle. Also i would like to point out that that Aud "disaster was really the best entry possible in disguise
Thanks this answer was exactly what I needed!
  • #580
  • May 25, 2010 4:53pm May 25, 2010 4:53pm
Thom I meant the Dutch like the English but the Scots do not like the English, present company accepted I hope.

I understand taking the shorter targets, I have already applied this to my trades looking to target previous pierces. I don't like the drawdown to the other side of the fib whether the fib will eventually work or not, like you I would rather be gathering pips up and down the internals somehow and that is something I need to embellish!

Thanks again for your nuggets.

MD.
Keep smiling
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