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Fibonacci Paradise

  • #721
  • Jun 3, 2010 5:58pm Jun 3, 2010 5:58pm
Quoting skong
MD,
You've scaled three peaks for those pips. The view must be lovely from up there.

SK
Morning fair dinkum. I gotta come clean I didn't trade that, my pal at work said he'd gone short so I had a quick look for a fib and I found that.

Night all.

MD.
Keep smiling
  • #722
  • Jun 3, 2010 6:24pm Jun 3, 2010 6:24pm
Quoting Misterdaz
Morning fair dinkum. I gotta come clean I didn't trade that, my pal at work said he'd gone short so I had a quick look for a fib and I found that.

Night all.

MD.
Still, it's a pattern to be aware of for next time !!

Night mate
SK
  • #723
  • Jun 3, 2010 6:42pm Jun 3, 2010 6:42pm
Hey guys did anybody see this or enter here.
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  • #724
  • Jun 3, 2010 7:09pm Jun 3, 2010 7:09pm
Quoting Misterdaz
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...
HAHAHAHAH very nice. Yes i have gotten into some heated arguments with chaps about P/E 200 sma fundamentals.. etc..... I imagine you will be running the place asap. Just keep your methodds a secret and start your own firm. tell them it is... astrology, Chuckle. which to be fair i am sure works... i just don't know how.

I never really thought about the implications for a firm using this.. hmm... hmm... make a couple million quid and just trade your own account... less suits involved. ONce you get it to click for you.. you will not renew contract.

TK
  • #725
  • Jun 3, 2010 7:33pm Jun 3, 2010 7:33pm
Quoting ak47dan2004
Hey guys did anybody see this or enter here.
The 61.8 pierce 50 retrace is bar none one of my favorite set ups.

TK
  • #726
  • Jun 3, 2010 9:19pm Jun 3, 2010 9:19pm
yes time is something i have never been able to nail down either...direction is rarely a problem but the WHEN now that would be the final piece to the puzzle... no clue (yet !)
  • #727
  • Edited 10:10pm Jun 3, 2010 9:53pm | Edited 10:10pm
Quoting Trader_X
yes time is something i have never been able to nail down either...direction is rarely a problem but the WHEN now that would be the final piece to the puzzle... no clue (yet !)
Thats a fact mate. The best i have been able to come up with is picking turns in a triggered fib that is retracing... but that is still not 100%..and literally I have to wait and watch...

I have seen things over the years of trading and heard war stories that let me know it is possible however... the things i have personally gotten my hands on are so arcane... or subjective.. they don't meet muster Most of the gents i have run into or heard through the grapevine that are timing wizards.. are either very secretive... or so sage like it has been impossible for me to glean anything i deem of value.

I will be happy finishing out my trading career not having touched on time as i don't need it. Side note.. what gives me the giggles from moving around these forums.. is most gents who are trying to time trade... cannot normally trade profitably(despite protest to the contrary).. seems a tad bit cart before horse. Looking for the magic bullet without knowing how to fire the gun as it were.

After today though,I am back in the lab tooling on some ideas

TK

EDIT: for the record.. this will need 135.94 to hold. Why is experimenting more enjoyable then trading these days? Chuckle.
  • #728
  • Jun 3, 2010 10:21pm Jun 3, 2010 10:21pm
Quoting ThomKnight
The 61.8 pierce 50 retrace is bar none one of my favorite set ups.

TK
My question is on this 61.8 pierce 50 retrace setup do I need to enter on penetration or the 50% retracement? If you have already answered this question I apologize for asking you to repeat yourself.
  • #729
  • Jun 3, 2010 10:59pm Jun 3, 2010 10:59pm
How I enter it is this mate.. I will drop down to the next lower time frame i am charting... and enter on the break of the candle showing 50 respect and I will generally try to get a stop right below that candle or the 50. Sometimes you do get stopped out temporarily though. Caveat Emptor.


TK
  • #730
  • Jun 3, 2010 11:00pm Jun 3, 2010 11:00pm
Quoting ThomKnight
How I enter it is this mate.. I will drop down to the next lower time frame i am charting... and enter on the break of the candle showing 50 respect and I will generally try to get a stop right below that candle or the 50. Sometimes you do get stopped out temporarily though. Caveat Emptor.


TK
Thanks Thom for the help!!!
  • #731
  • Jun 3, 2010 11:28pm Jun 3, 2010 11:28pm
If we hit 134 .40 this will be a forward test success. If not.. back to the drawing board. This is an attempt using the overkill fib to trade simply and profitably perchance that came to me today mucking about with it after Mr Eggster brought out the multi level fib. Either or..something to play with.

TK

EDIT: the only logical reason it wouldn't work.. it how touchy this is using the 61,8 out to the 4.38 level a pip here or there.. and well.. you get wildly different results.. things are open or closed does anyone know how to snap the 61.8 as opposed to the zero or 100? that may help.
  • #732
  • Jun 4, 2010 12:43am Jun 4, 2010 12:43am
Quoting ThomKnight
EDIT: the only logical reason it wouldn't work.. it how touchy this is using the 61,8 out to the 4.38 level a pip here or there.. and well.. you get wildly different results.. things are open or closed does anyone know how to snap the 61.8 as opposed to the zero or 100? that may help.
I do.
Keep smiling
  • #733
  • Jun 4, 2010 2:09am Jun 4, 2010 2:09am
after all the side trips and fun.. we are here to tade.. here is a very text book simple set up on an old friend i never visit these days. 70 or so pips.


TK

EDIT: in addition to tading.. we have also been known to trade chuckle.
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  • #734
  • Jun 4, 2010 2:16am Jun 4, 2010 2:16am
Another pair i havent traded in years... but the brits seem to be mad about it.


TK
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  • #735
  • Jun 4, 2010 2:22am Jun 4, 2010 2:22am
Aussie H1 black fib isnt so much necessary as it is to show where that short move closed. I would wager once the 61.8 of the black fib breaks..

TK
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  • #736
  • Jun 4, 2010 2:31am Jun 4, 2010 2:31am
a tad creative... but my only active trade atm... is 19 pips which is fine.


TK
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  • #737
  • Jun 4, 2010 2:38am Jun 4, 2010 2:38am
And you call me a megalomaniac!

19 pts to where? The last highs?

MD.
Keep smiling
  • #738
  • Jun 4, 2010 2:43am Jun 4, 2010 2:43am
This is where I have some data concerns, although Thom I think you are using the same broker as me. My Aud is pierced by 2 pips at the yellow square.

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MD.
Keep smiling
  • #739
  • Jun 4, 2010 2:56am Jun 4, 2010 2:56am
Quoting Misterdaz
This is where I have some data concerns, although Thom I think you are using the same broker as me. My Aud is pierced by 2 pips at the yellow square.

Attachment

MD.
This is the same thing I have been noticing. On Thom's charts when it hit's to a pip on his chart it usually is a pierce on my charts which I many times think is a continuation signal.
  • #740
  • Jun 4, 2010 2:57am Jun 4, 2010 2:57am
Quoting Misterdaz
And you call me a megalomaniac!

19 pts to where? The last highs?

MD.
To around the 0 line as there is Resistance in that area, why not take the safe trade ?
20 pips a day isn't too much to ask . . .
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