Fibonacci Paradise | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Are we living in a fool's paradise? 8 replies

Back From Paradise: Lessons to Learn 19 replies

fibonacci 4 replies

Attachments: Fibonacci Paradise
Exit Attachments

Fibonacci Paradise

  • #701
  • Jun 3, 2010 1:28am Jun 3, 2010 1:28am
Hey you back then Thom? Did you have a good break?

All interesting to know or not maybe depending on how you look at things. I was more intersted in how Eggster had re-calibrated the fib. I'm the kind of person who likes to take things apart to see how they work.

MD.
Keep smiling
  • #702
  • Jun 3, 2010 6:33am Jun 3, 2010 6:33am
MD, is this what you have on your chart?
Attached Image (click to enlarge)
Click to Enlarge Name: eu 0603.gif Size: 21 KB
  • #703
  • Jun 3, 2010 6:51am Jun 3, 2010 6:51am
Quoting bartstop
MD, is this what you have on your chart?
Mate, I took a short on that yesterday with a tight stop and got stopped out, no bother. It has now confirmed off the 50 so you could enter a gambly short now or wait for the zero break if we get one. Either way I think you should factor drawdown to the 50.

MD.
Keep smiling
  • #704
  • Jun 3, 2010 11:19am Jun 3, 2010 11:19am
Quoting Misterdaz
Hey you back then Thom? Did you have a good break?

All interesting to know or not maybe depending on how you look at things. I was more intersted in how Eggster had re-calibrated the fib. I'm the kind of person who likes to take things apart to see how they work.

MD.
re calibrated? is it not pairings of 38.2 50 61.8 and 1.38? there appeared to be some other level in there as well. I am sure he will be a sport and tell you when he gets back. no worries. I really havent the foggiest.

TK
  • #705
  • Jun 3, 2010 11:35am Jun 3, 2010 11:35am
Quoting ThomKnight
re calibrated? is it not pairings of 38.2 50 61.8 and 1.38? there appeared to be some other level in there as well. I am sure he will be a sport and tell you when he gets back. no worries. I really havent the foggiest.

TK
Thom, what he has done, rather than add the levels above the 100 he has put them within the range of the fib tool. His fib is split into 16th's so his first level after the zero appears at a setting of 0.0625. He then skips 2/16 and uses 3/16 or 0.1875 and so on in 16ths. The fib still expands and contracts correctly as if one had added the levels after the 100. It's easy for me to figure the levels as I use 16th's at work when quoting money market rates.

If you are interested I can post all the levels, if not no bother.

MD.
Keep smiling
  • #706
  • Jun 3, 2010 11:42am Jun 3, 2010 11:42am
Thom you are right he has created those levels but he has scaled everything down to fit inside the tool in effect mimicing the larger fib tools you have posted. He may have use some slightly different levels to you but the tool scales up and down perfectly.

MD.
Keep smiling
  • #707
  • Jun 3, 2010 3:02pm Jun 3, 2010 3:02pm
Absolutely mate! I dinnae know nearly everything at all so anymore information is always welcome. 16ths eh? like Gann harmonics.. Murray math etc?

The Skunny 1.38 tool works on all time frames.. here is a 30 min one. i just never found a simple way( I am sure there is one) to trade it hence i use it for tracking and sometimes letting a move run when I get a yen to do so. there is too much stuff for these old eyes to track and ranges get well out of hand for my taste with anyhting other then a vanilla 1.38. Also Skunny showed Gann wedges.. but again I never cracked them.

Realistically mate there are a bunch of tools out there. I havent cracked Fib time by a long shot and i know how to set up proper Fib channels but outside of projecting sr I havent found much use for them as of yet. Hopefully Mr Eggster has something fun to bring to the table. Now if we could only recruit a timemaster ...

TK
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud30min.gif Size: 21 KB
Click to Enlarge Name: aud30min2.gif Size: 21 KB
  • #708
  • Jun 3, 2010 3:23pm Jun 3, 2010 3:23pm
My issue when you start going in depth , but perhaps someone can help me.. is that when you get something like this... i get ideas to trade from but it is hyper complex to trade from by itself(for my brain) I can set it up.. but still hence why i never got into it here.

What this chart tells me... is we have open shorts.. and shows me why price is doing what it is doing atm. I would have to track the long move up from the push to see if longs were open as well and eventually just end up trading one hour chuckle. this is just a 438 Skunny and a 438 Skunny fib channel.

TK

edit.. since pips off on this big of a a projection make a lot of difference.. I have found two other charts showing me very different things... i wish i had a steadier hand or a way to snap the fib to the 61.8. one shows the fib bounces off of the 4 ext and currently bouncing off of the 362 with no more triggered short...another shows it completel the 438 and currently bouncing off of the 4 level..so that has been my dilemma as always... i can line it up after the fact.. however on the fly.. i am off a tad here and there... and with this IMO it makes a difference. Leading me to.. sticking witht he simple and versitile 1.38.
Attached Image (click to enlarge)
Click to Enlarge Name: gobbledygook.gif Size: 23 KB
  • #709
  • Jun 3, 2010 3:41pm Jun 3, 2010 3:41pm
Quoting ThomKnight
My issue when you start going in depth , but perhaps someone can help me.. is that when you get something like this... i get ideas to trade from but it is hyper complex to trade from by itself(for my brain) I can set it up.. but still hence why i never got into it here.

What this chart tells me... is we have open shorts.. and shows me why price is doing what it is doing atm. I would have to track the long move up from the push to see if longs were open as well and eventually just end up trading one hour chuckle. this is just a 438 Skunny and...
I'll post those levels later. I'll probably stick to our standard fibs, just nosey is me. We'll see what Mr Eggster has to say when he gets back from his fishing trip.

I dunno about you but I like the fib tool because it's one simple tool in one, no ma's, bollinger, rsi's blah blah. Not saying they don't work but for me I like a simple tidy chart. I couldn't do all those Gann lines either and I know you are just pointing a few different things out to us Thom while we were on the subject "loads of lines"..lol.

I can't tune my brain in with too much information like that, that's why I don't listen to my wife, she reminds me of Gann lines.

MD.
Keep smiling
  • #710
  • Jun 3, 2010 3:48pm Jun 3, 2010 3:48pm
Well now that i am revisiting i am more interested... here is a 61.8 progression of AUD. 3 steps to 438... you can move backwards and forwards from a high or low with your 61.8.

The movement is so tricky... and data is wonky..scale is also an issue... so it is a rough trade to be sure but it can be done.. i don't know why 438 it just happened that way. And remember gents.. the market is random..and you cannot predict price as such. Chuckle.

TL
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud1.gif Size: 21 KB
Click to Enlarge Name: aud2.gif Size: 21 KB
Click to Enlarge Name: aud3.gif Size: 19 KB
  • #711
  • Jun 3, 2010 3:54pm Jun 3, 2010 3:54pm
also so once we hit to the tick... what do we. do... follow price... 61.8 50 .38 Voila. You can stay in the market for ever using this stuff.


TK

edit the 2 to the the tick bounce... well take a gander at this.. chuckle. I don;t think I really have much more to show anyone. If this doesnt light your cranium on fire... you are dense or in chronic denial. and in keeping with the theme... the last hit lines up with duh duh duhnnn... the major cycle..hopefully you can see how sensitive and tricky this stuff is but this should get you there.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud4.gif Size: 21 KB
Click to Enlarge Name: aud5.gif Size: 21 KB
Click to Enlarge Name: aud6.gif Size: 16 KB
  • #712
  • Jun 3, 2010 4:04pm Jun 3, 2010 4:04pm
Quoting Misterdaz
I'll post those levels later. I'll probably stick to our standard fibs, just nosey is me. We'll see what Mr Eggster has to say when he gets back from his fishing trip.

I dunno about you but I like the fib tool because it's one simple tool in one, no ma's, bollinger, rsi's blah blah. Not saying they don't work but for me I like a simple tidy chart. I couldn't do all those Gann lines either and I know you are just pointing a few different things out to us Thom while we were on the subject "loads of lines"..lol.

I can't tune my brain in with...

Exactly mate! The only indi i ever used was a Stoch/ RSI and that was it. I think what a lot of traders find... is that after cluttering up there charts and going wild... the more you can pull off the better. Fibs are actually just sr with a cycle break out twist and actually... do more for me then i can do with PASR bar none the best tool i have ever used... figuring out how to use it(for me) took me forever though. Yes my wife is a fine mix of Elliot wave and a Square of nine.I am sure fibs could somehow describe women's seemingly chaotic and irration behavior... but that is a bigger project then i ever want to under take Chuckle. I just give her the chequebook and she lets me putter about relatively unscathed.

TK
  • #713
  • Jun 3, 2010 4:10pm Jun 3, 2010 4:10pm
after completely mucking things up a right proper mess... here is a tablet to cleanse the brain... how much simpler and dare i say better is this..

took target... look to go long. I feel better already. Chuckle. Just because you can map the market... doesnt mean you need to at all unless you ahve some megalomaniacal scientific arrogance disguised as curiosity chuckle. You just need to know what we are doing now/targeting etc.. to be wildly profitable.


TK
Attached Image (click to enlarge)
Click to Enlarge Name: aud7.gif Size: 22 KB
  • #714
  • Jun 3, 2010 4:19pm Jun 3, 2010 4:19pm
I can't believe a Scotsman lets his wife loose with the cheque book, lol.

I found this fib today, it's like crossing the Alps!

Attached Image (click to enlarge)
Click to Enlarge Name: AUD030610.JPG Size: 114 KB


Back later.

MD.
Keep smiling
  • #715
  • Jun 3, 2010 4:24pm Jun 3, 2010 4:24pm
You calling me a megalomaniac!

MD.
Keep smiling
  • #716
  • Jun 3, 2010 4:28pm Jun 3, 2010 4:28pm
Anyone have any thoughts on this? On how 99% of trading rhetoric is garbage? On how nothing in life is random at all? This may give one an idea why Skunny is unabashedly the most intelligent/lucky/blessed/hardworking... whatever you want to call it trader of our lifetime as far as I know. It was a right laugh to hear gents try to take him down a peg or two. He handled it like proper gentleman. Just because you don't know how to use the widget... doesnt mean the widget doesnt do what it purports to do. Always ALWAYS keep an open mind. The minute you KNOW something... you are cruising for a bruising me thinks.

TK
  • #717
  • Jun 3, 2010 4:30pm Jun 3, 2010 4:30pm
Quoting Misterdaz
I can't believe a Scotsman lets his wife loose with the cheque book, lol.

I found this fib today, it's like crossing the Alps!

Attachment

Back later.

MD.
Simple and to the point! I love it mate.That one trade is all you need none of the market mapping rubbish.

Why do you think i had to be a trader? the amount of money that wee "lovely lass" spends would curl your nails.. but it is a small price to pay to be allowed peace. Chuckle.

TK

EDIT MD we traders are some of the most cocksure bastards to roam God's green...the same thing that makes us traders also hurts us if we don't keep it in que ...too funny. Once you crack the market though you can let your flag fly a little more though.
  • #718
  • Jun 3, 2010 5:36pm Jun 3, 2010 5:36pm
First of all Eggster, I hope I haven't stole any of your thunder and I end up with egg on my face! I am jealous though because you have gone fishing and I have not! All I have done is work out how you create your fib..I think.

I set mine in the order of how we pull them here so that as the fib expands, ours always start from 100 and head for zero then beyond there become negative but it doesn't matter as they are all the same shape. I note Eggster uses 11.8% if I am not mistaken which is half 23.6%. Anyway for those that are curious (megalomaniacs) like me, here's how I created mine:

Level Description
0 -100
0.0625 -88.2
0.1875 -61.8
0.25 -50
0.3125 -38.2
0.4375 -11.8
0.5 0
0.5625 11.8
0.6875 38.2
0.75 50
0.8125 61.8
0.9375 88.2
1 100

I think I got this right, it can get confusing.

MD.

EDIT: Sorry guys, the levels were all tabbed out nicely when I typed this but once submitted it all bunches up.
Keep smiling
  • #719
  • Jun 3, 2010 5:48pm Jun 3, 2010 5:48pm
Quoting Misterdaz
I can't believe a Scotsman lets his wife loose with the cheque book, lol.

I found this fib today, it's like crossing the Alps!

Attachment

Back later.

MD.
MD,
You've scaled three peaks for those pips. The view must be lovely from up there.

SK
  • #720
  • Jun 3, 2010 5:56pm Jun 3, 2010 5:56pm
Quoting ThomKnight
Anyone have any thoughts on this? On how 99% of trading rhetoric is garbage? On how nothing in life is random at all? This may give one an idea why Skunny is unabashedly the most intelligent/lucky/blessed/hardworking... whatever you want to call it trader of our lifetime as far as I know. It was a right laugh to hear gents try to take him down a peg or two. He handled it like proper gentleman. Just because you don't know how to use the widget... doesnt mean the widget doesnt do what it purports to do. Always ALWAYS keep an open mind. The minute...
Well I got dragged into a meeting today, the client relationship guys wanted my trading pal and I to attend a meeting with this technical analysis guy they had coming in. We got dragged in because we've got quite a name for ourselves lately in our weekly FX reports at work, we have been posting quite a few corrrect price targets in our papers. My pal uses more conventional TA and I use guess what? I don't actually post any charts with fibs in there I just give my opinion to my pal of what I think when he writes the report. Good thing is we both tend to agree with eachother.

So this guy comes in and shows us about 20 charts of different markets and stocks etc. He was very Elliot Wave based. Not once though could he commit to any particular price target or even direction and this guys been doing this for years and probably earning twice what I earn.

What was nice though was a couple of our guys looked at me, shook their heads and winked.

The beautiful thing is, even if you try to explain this stuff to them they think you're mad! Hey that's fine by me.

Enjoy the rest of your day chaps.

MD.
Keep smiling
0 traders viewing now