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Simple & Consistent Fibbing Method

  • #1,221
  • May 30, 2010 6:36am May 30, 2010 6:36am
Hello Simone
Thanks very much for your webinar and it was great. Thanks for your support

Regards
MOhamed
  • #1,222
  • May 30, 2010 10:26am May 30, 2010 10:26am
Hello Simone

In regard to 50% breach.

What is the stop loss you have?
How many candles do u wait to confirm a breach?
Some times if the close is below the breach level it falls, sometimes it goes up and down the breach line, How do u handle this, what is your stop loss ususally?


Thanks
Mohamed
  • #1,223
  • May 30, 2010 10:35am May 30, 2010 10:35am
Hello Simone

3 rules regarding adjustment of intraday fib? Am I right
Draw Intraday Fib from Midnight to current time
Rule 1A:High is broken and pull back to around 80.9 then adjust
Rule 1b:Low is broken and a pull back beyond 19.1 then adjust
Rule 2: Target T1 is achieved followed by pull back toward 80.9 or 19.1 then adjust
Rule 3: Both targets is acheived then we need to adjust the fib

Am I right?


Regards
Mohamed
  • #1,224
  • May 30, 2010 4:01pm May 30, 2010 4:01pm
Hey Simone,

Thanks for the webinar this weekend. Your efforts are appreciated!!
  • #1,225
  • May 30, 2010 4:12pm May 30, 2010 4:12pm
Quoting aswilled
Simone you did a wonderful job in instructing in spite of the technical difficulties. At least next time we can be prepared for them. Lets discuss all the difficulties that everyone experienced so I can list the fixes to all the bugs. Thanks again, Simone darling.
Hi Aswilled,

Thanks very much! For sure we can be better prepared for the next webinar. Already suggestions are coming in for better tools that are out there, so exciting days ahead. As always, I appreciate your support aswilled.

Many Blessings!
Hero Traders Live to see their Accounts Die!
  • #1,226
  • May 30, 2010 4:13pm May 30, 2010 4:13pm
Quoting Vark
Simone, great job today! I ahd to run to my job, so no chat for me. Please check your gmail email.
Thank you
Thank you Vark! I just checked my mails and responded. Hopefully we can get something good put together.
Hero Traders Live to see their Accounts Die!
  • #1,227
  • May 30, 2010 4:14pm May 30, 2010 4:14pm
Quoting adler
Hello Simone
Thanks very much for your webinar and it was great. Thanks for your support

Regards
MOhamed
You are welcome Adler!
Hero Traders Live to see their Accounts Die!
  • #1,228
  • May 30, 2010 4:20pm May 30, 2010 4:20pm
Quoting adler
Hello Simone

In regard to 50% breach.

What is the stop loss you have?
How many candles do u wait to confirm a breach?
Some times if the close is below the breach level it falls, sometimes it goes up and down the breach line, How do u handle this, what is your stop loss ususally?


Thanks
Mohamed
Hi adler,

The stop is usually a few pips above or below the 50% as per sell or buy trade.
Where the number of candles is concerned there is no set number. Ideally you want to see the level holding for 3 or so candles to confirm your entry. Most times my stops are at 30-40pips.
Hero Traders Live to see their Accounts Die!
  • #1,229
  • May 30, 2010 4:21pm May 30, 2010 4:21pm
Quoting adler
Hello Simone

3 rules regarding adjustment of intraday fib? Am I right
Draw Intraday Fib from Midnight to current time
Rule 1A:High is broken and pull back to around 80.9 then adjust
Rule 1b:Low is broken and a pull back beyond 19.1 then adjust
Rule 2: Target T1 is achieved followed by pull back toward 80.9 or 19.1 then adjust
Rule 3: Both targets is acheived then we need to adjust the fib

Am I right?


Regards
Mohamed
Hi adler,

Yes this is correct.
Hero Traders Live to see their Accounts Die!
  • #1,230
  • May 30, 2010 7:01pm May 30, 2010 7:01pm
Hello Simone
Thanks for your replies. I have one more question regarding Intraday fibs
I live in UK and you say we need to draw intraday fibs based on high and low between 12 AM to 3 AM: which is in uk (5 am to 8 am (london open)).

Any reason why you consider only last 3 hours for drawing the fibs instead of 12 uk midnight am to uk 8.00 am.


This is always my confusion in regard to intraday fibs would appreciate if you can spread some thaughts on this?

Also trading times is 3 AM - 12 PM which is 8 am(london open) to 5 pm (london close) is this right?
  • #1,231
  • May 30, 2010 7:39pm May 30, 2010 7:39pm
Quoting adler
Hello Simone
Thanks for your replies. I have one more question regarding Intraday fibs
I live in UK and you say...
Hi adler,

Just to make sure we are on the same page, the 12 midnight hour( or the beginning of the next day) to the current time is the range we use for drawing intraday fibs. The best and more profitable setups USUALLY appear between 3am EST and 12pm EST. However, you will find good setups outside of this window as well. Hope this helps.
Hero Traders Live to see their Accounts Die!
  • #1,232
  • May 30, 2010 7:42pm May 30, 2010 7:42pm
Thanks but all your documentation says 12am to 3am for intraday fibs so just only 3 hours can you clarify thank
Am i right in thinking you trade from london open?
  • #1,233
  • May 30, 2010 8:26pm May 30, 2010 8:26pm
Quoting simoneg
Hi Aswilled,

Thanks very much! For sure we can be better prepared for the next webinar. Already suggestions are coming in for better tools that are out there, so exciting days ahead. As always, I appreciate your support aswilled.

Many Blessings!
No problem darling. My reasonable service.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,234
  • May 30, 2010 8:35pm May 30, 2010 8:35pm
Quoting adler
Hello Simone
Thanks for your replies. I have one more question regarding Intraday fibs
I live in UK and you say...
Them rules are for gu/eu, because of the london/us openings. Now if you were trading the yen, you would trade during the asian session.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,235
  • May 30, 2010 8:44pm May 30, 2010 8:44pm
Thank for your quick reply

I live in UK and what is the times of fibs for intraday I should plot for

GBP/USD and EURJPY?

Thank
I always get lost with the times with the method as simone talks about 3.15, 3.30 and i get lost...

Plz help
  • #1,236
  • May 30, 2010 9:32pm May 30, 2010 9:32pm
Quoting adler
Thank for your quick reply

I live in UK and what is the times of fibs for intraday I should plot for

GBP/USD and EURJPY?

Thank
I always get lost with the times with the method as simone talks about 3.15, 3.30 and i get lost...

Plz help
5 am to 8 am uk time for uk cross pairs. I don't trade the eur/jpy, I would fib from 5 am to 8 am. That cross has a broad session time due to the hours the markets open in japan and the uk. Find out when volatility starts for the pair and start to fib three hours before its start. See if that works for you. But in all actuallity you can fib at any time you want to trade. Because the same high/low principles apply.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,237
  • May 30, 2010 10:23pm May 30, 2010 10:23pm
Thanks Aswilled

Regarding adjustment of fib, Can you confirm is this adjustments right?

High is broken and pull back below 80.9 then adjust
Move the high to the new high

Low is broken and a pull back beyoung 19.1 then adjust
move the low to the new low

Target (t1) is acheived followed by pull back below 80.9 or beyond 19.1 then adjust
Move the high to t1 or if price broke above t1 to that high

Both targets is acheived then any pull back we need to adjust the fib
Move the high to t2 or if price broke above t2 to that high
  • #1,238
  • May 31, 2010 12:01am May 31, 2010 12:01am
Quoting adler
Thanks Aswilled

Regarding adjustment of fib, Can you confirm is this adjustments right?

High is broken and pull back below 80.9 then adjust
Move the high to the new high

Low is broken and a pull back beyoung 19.1 then adjust
move the low to the new low

Target (t1) is acheived followed by pull back below 80.9 or beyond 19.1 then adjust
Move the high to t1 or if price broke above t1 to that high

Both targets is acheived then any pull back we need to adjust the fib
Move the high to t2 or if price broke above t2 to that high
All correct. In the case with T2, move it to T2 if no pullback occures. If its broken then a pullback (of any size), adjust to that high/low.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,239
  • May 31, 2010 4:07am May 31, 2010 4:07am
Hello

Thank for all your support. Question regarding Breach fib now,

What I know

Fib B - For entries (Breach Fib) - 100,50,0
Using Fib B - If the market was trending up and created a SELL candle pattern, fib from this new high to the last low.
i.High to nearest Low(to the high of the day)
If the market was trending downwards and created a BUY candle pattern, fib from the last high to this low.
ii.Low to nearest High(to the low of the day)
Here you are looking for breaches of the 50% fib level. A close above or below this level creates support or resistance for the trend to continue.

I use fractuals and i do breach fib from the nearest fractual to the previous low or high.

Please can you let me know if the breach fib the way i have done is correct in the attachment?

Also please can you kindly help me to clarify confusion with breach fib is when should i do it ?

In Uptrend on any top without considering it might pull back to (Intraday) 80.9 after a break of high ? I get many failed trades as the target is just 80.9 and then a bounce back on trend?

Or is there any other rule on when to apply breach fib
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  • #1,240
  • May 31, 2010 6:56am May 31, 2010 6:56am
Aswilled plz can you come to chat room for SFM?

I would really appreciate thanks..
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