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Fibonacci Paradise

  • #621
  • May 26, 2010 10:33pm May 26, 2010 10:33pm
Can't forget about my personal favourite! something odd caused this fib to foul up and lose its way in the blue box but looks like we rejoined the programme.


TK
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  • #622
  • May 27, 2010 2:11am May 27, 2010 2:11am
Quoting ThomKnight
Really mate... no short on USDCHF.... hmm..
Yeah, OK, I got it sort of right when I placed the Fib and wrong when I lost faith in it. Didn't close it though, it TPed.

I was much much happier with the AJ and AU longs I set before going to bed, AJ TPed, AU is almost there . . .
20 pips a day isn't too much to ask . . .
  • #623
  • May 27, 2010 2:46am May 27, 2010 2:46am
Quoting RaptorUK
Yeah, OK, I got it sort of right when I placed the Fib and wrong when I lost faith in it. Didn't close it though, it TPed.

I was much much happier with the AJ and AU longs I set before going to bed, AJ TPed, AU is almost there . . .
Raptor, you were right on CHF, I take it you took profit, TPed?

My GY turned around and I added to it before going to bed, they are in the bag. I also took another long while eating my toast this morning, that's in the bag as well, up 30% since yesterday.

I might buy myself a helmet at this rate!

MD.
Keep smiling
  • #624
  • May 27, 2010 3:20am May 27, 2010 3:20am
Quoting Misterdaz
Raptor, you were right on CHF, I take it you took profit, TPed?

MD.
Yeah, hit my TP line . . . TPed, took profit. I closed my AU long, looked like it was struggling with an SR area.
20 pips a day isn't too much to ask . . .
  • #625
  • Edited 3:51am May 27, 2010 3:34am | Edited 3:51am
I read In a previous post somewhere that a to the pip hit is a signal of a reversal. My question is on my 5 minute chart of the Aud/Usd I see what looks like it could either be a to the pip hit or a small pierce using Skunnys swing fib method. Im at work so I can't post a chart but can someone take a look at it and tell me exactly what it is. Thanks!!!!
  • #626
  • Edited 5:17am May 27, 2010 4:38am | Edited 5:17am
Anyone catch this? Come on the proud pound!!!!

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MD.
Keep smiling
  • #627
  • May 27, 2010 6:50am May 27, 2010 6:50am
Quoting Checkz
I read In a previous post somewhere that a to the pip hit is a signal of a reversal. My question is on my 5 minute chart of the Aud/Usd I see what looks like it could either be a to the pip hit or a small pierce using Skunnys swing fib method. Im at work so I can't post a chart but can someone take a look at it and tell me exactly what it is. Thanks!!!!
First of all I don't trade 5 min charts. I know you can't post a chart but without it I cannot give my opinion.

MD.
Keep smiling
  • #628
  • May 27, 2010 11:11am May 27, 2010 11:11am
Checkz..by now your q has been answered... but in a larger sense... not saying you are but i have and many i know ave done this... ie looking to go short so zooming into i minute and looking for a to the tick to get in... if you are dont... if i am off base.. it happens frequently CHUCKLE.


Per our charts though we have known where price was going on aud et al since last week... it just took its bloody time getting there..i think the EU is the most laggy atm. once you trust your charts trading is a cool breeze.


TK

edit not a signal of a reversal... but a signal that move is over.. and MAYBE a reversal.. i just look at it a sign to look to go the other direction... the larger the time framde it happens on the stronger the signal.
  • #629
  • May 27, 2010 12:01pm May 27, 2010 12:01pm
I was extemely busy with money Market trading this morning as well as meetings (which I loathe). I caught a couple of GY longs but missed a hatfull by the look of it Thom.

MD.
Keep smiling
  • #630
  • May 27, 2010 1:27pm May 27, 2010 1:27pm
Quoting Misterdaz
I was extemely busy with money Market trading this morning as well as meetings (which I loathe). I caught a couple of GY longs but missed a hatfull by the look of it Thom.

MD.

good news mate! God willing we'll have you out of the corporate trading life in no time!

TK
  • #631
  • May 27, 2010 1:37pm May 27, 2010 1:37pm
G'day,

this is perhaps for the greener traders out there..., boot one thing i have noticed time in and time out over the years is the importance of waiting. When i first started fibbing... i thought... FINALLY this bloke can trade every move to perfection no waiting days for a set up...

If you are following this thread you have no doubt noticed... i THINK non of our trades have failed... you can argue the AUD but i addressed that methinks. Point being... we had trades triggered last week... and if you waited until the last session or so you would have had legendary entries into big sweeping moves and if you are concerned with RR still... massive well over 10:1 rr on most moves.

No doubt there were skads of little moves to be had but the meat of the move happened about 4 days after trigger... so if you had sat on your hands relatively... you could have easily doubled your account in one trade... do you need more? or just follow price and take the little 30-70 pip sets that we post and that will do it too... as a trader the goal is to not be infront of your screens like a normal 9-5. Your life is what you do... trading just makes it happen. The less screen time the better in my book. Just thoughts for newer traders. Don;t muck about and snarl things up and make them more difficult then they have to.

My favourite trades of the week were those little EU 61.8 etc trades.. even if you can't move a yard on them you can still put 30,40,50,60 lots on them ..bloody hell mate if you can only afford 3 lots or .3 lots at the moment hang in there and keep doing it and you will be able to eventually... be patient.

TK
  • #632
  • May 27, 2010 2:00pm May 27, 2010 2:00pm
I never adressed how i knew UCHF was going short... the blue fib using 61.8 triggered at the first blue box... letting us know we were short. The black fib set up after price retraced past the original 61.8 then Pierced... the retraced to the moon... my rule is if it pierces before the 61.8 is broken... it will still complete as long as it looks right. If the 61.8 it broken with no pierce mate... reset and track again.


TK
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  • #633
  • May 27, 2010 2:10pm May 27, 2010 2:10pm
Quoting ThomKnight
I never adressed how i knew UCHF was going short...
TK
Funny you should mention UCHF, I've just gone long to 1.1574
20 pips a day isn't too much to ask . . .
  • #634
  • May 27, 2010 2:14pm May 27, 2010 2:14pm
I have recived some PMs as far as how to trade major moves monthly charts etc... well to start... first off... why in the name of god would you want... but again... the same as everything else... wait for the fib to set up... i just pulled up the DXY proxy that triggered in feb 09 and came to its senses in oct...do you want to wait that long? no. Simple 61.8 50 and then enter on the bounce of a major tl or sr rejection.. and since it is not following our black fib atm chart it.... with blue and follow price and voila... why is uchf going short atm? it will get to its target but it is saying not right now. I don;t see much sense in trading this large but the concept of waiting and tracking translates to 1hr as well so i thought this was of value. Perhaps not.

My thought and how i approach these is set my charts up... and watch if i catch something like this... i will most certainly take it if not there are zounds of normal sized trades... but by being prepared you can get into these... timing is everything.

TK
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  • #635
  • May 27, 2010 2:20pm May 27, 2010 2:20pm
Quoting RaptorUK
Funny you should mention UCHF, I've just gone long to 1.1574
No doubt mate! good onya! what does your chart look like?

TK
  • #636
  • May 27, 2010 2:26pm May 27, 2010 2:26pm
Quoting ThomKnight
No doubt mate! good onya! what does your chart look like?

TK
Well, its got a grey background, has some black and blue candles on it and a few lines here and there . . . oh, it's got a yellow Fib on it also
20 pips a day isn't too much to ask . . .
  • #637
  • May 27, 2010 2:30pm May 27, 2010 2:30pm
Not planning on making a habit of posting charts, but as you asked . . .
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20 pips a day isn't too much to ask . . .
  • #638
  • May 27, 2010 2:37pm May 27, 2010 2:37pm
Quoting ThomKnight
Checkz..by now your q has been answered... but in a larger sense... not saying you are but i have and many i know ave done this... ie looking to go short so zooming into i minute and looking for a to the tick to get in... if you are dont... if i am off base.. it happens frequently CHUCKLE.


Per our charts though we have known where price was going on aud et al since last week... it just took its bloody time getting there..i think the EU is the most laggy atm. once you trust your charts trading is a cool breeze.


TK

edit not a signal of...
Thanks for the help!!!!
  • #639
  • May 27, 2010 2:38pm May 27, 2010 2:38pm
Quoting RaptorUK
Not planning on making a habit of posting charts, but as you asked . . .
Sound as a pound... nice trade and getting in early for the expected retrace i see nothing wrong with that mate! I have the same fib.

Cheers

TK

EDIT and post away i am beginning to feel like this is old Thoms trade call thread.. chuckle.
  • #640
  • May 27, 2010 2:41pm May 27, 2010 2:41pm
Quoting ThomKnight
I never adressed how i knew UCHF was going short... the blue fib using 61.8 triggered at the first blue box... letting us know we were short. The black fib set up after price retraced past the original 61.8 then Pierced... the retraced to the moon... my rule is if it pierces before the 61.8 is broken... it will still complete as long as it looks right. If the 61.8 it broken with no pierce mate... reset and track again.


TK
I got that wrong last night I must look at that when I get back.

I'm at the vets with my Westie, he doesn't like it here. It can be quite entertaining. He's a fierce wee laddie.

MD.
Keep smiling
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