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Simple & Consistent Fibbing Method

  • #1,361
  • Jun 16, 2010 5:34am Jun 16, 2010 5:34am
Quoting simoneg
The daily 80.9 at 1.4806 is now acting as support, so we are still holding long.
You mean fibbing yesterday's high (1.4835) and low (1.4680)?
  • #1,362
  • Jun 16, 2010 5:36am Jun 16, 2010 5:36am
yes sorry guys.

I do mean SCFM.

It is he
  • #1,363
  • Jun 16, 2010 5:40am Jun 16, 2010 5:40am
Quoting simoneg
We had a buy entry off support at 1.4766 the first breach level from this morning's low. 1.4821 resistance may attract sellers.
Hello Simone,

i dont really understand how you select those points for your breech fib. The bars before you were in a downtrend (2-4 h)so your breech level would be different. What gives you the signal to change the points for the breech fib 8and the direction)? That this now is your low you only know in hindsight. Especialyy when your fractals need two bars to be build. An explanation would be nice!


Another question: When and where is the record from your webinar available?
  • #1,364
  • Jun 16, 2010 5:41am Jun 16, 2010 5:41am
Quoting simoneg
Hey iqyusan, I cant believe you have said he or she. Has it been that long? It is she...
heheheh forgot guru.... not trading for couple month ... doing other in real sector
  • #1,365
  • Jun 16, 2010 5:55am Jun 16, 2010 5:55am
Quoting desi
You mean fibbing yesterday's high (1.4835) and low (1.4680)?
Sorry desi, just saw your post, that is correct
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  • #1,366
  • Jun 16, 2010 5:56am Jun 16, 2010 5:56am
Quoting iqyusan
heheheh forgot guru.... not trading for couple month ... doing other in real sector
Hey iqyusan, that was an error post deleted.
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  • #1,367
  • Jun 16, 2010 6:02am Jun 16, 2010 6:02am
Quoting joker24
Hello Simone,

i dont really understand how you select those points for your breech fib. The bars before you were in a downtrend (2-4 h)so your breech level would be different. What gives you the signal to change the points for the breech fib 8and the direction)? That this now is your low you only know in hindsight. Especialyy when your fractals need two bars to be build. An explanation would be nice!


Another question: When and where is the record from your webinar available?
Correct joker24,

We were in a downtrend and a low was created at 4:30am, then buying started and a high was created followed by a pullback. This means than you have to fib that high-low to see where trend reversal or continuation setups will appear. Once a breach level as been retraced to, then I search for the previous high to that low (in this case) and keep repeating this step. You dont need fractals, they help you see the highs and lows quickly, but you have to practice picking highs and lows, from the perspective of this setup, should you zoom down to a 5m chart, you would see that a high was created at 1.4789.
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  • #1,368
  • Jun 16, 2010 6:29am Jun 16, 2010 6:29am
Closed all longs, as resistance at 1.4821 continues to hold.
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  • #1,369
  • Jun 16, 2010 6:45am Jun 16, 2010 6:45am
Quoting simoneg
Closed all longs, as resistance at 1.4821 continues to hold.
Where is your 50% breach now, 1.4788?
If breached do we go short?
  • #1,370
  • Jun 16, 2010 6:46am Jun 16, 2010 6:46am
Quoting desi
Where is your 50% breach now, 1.4788?
If breached do we go short?
Correct desi, we failed to close below, I have taken a long here.
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  • #1,371
  • Jun 16, 2010 6:52am Jun 16, 2010 6:52am
Quoting simoneg
Correct desi, we failed to close below, I have taken a long here.
Simone,

where do you place your stopp lose? In this case and in general?
  • #1,372
  • Jun 16, 2010 6:53am Jun 16, 2010 6:53am
ok, gonna be off for awhile
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  • #1,373
  • Jun 16, 2010 8:19am Jun 16, 2010 8:19am
Hi desi, had to rush out without giving proper explanation. I took a low risk, unconfirmed entry on the 50% breach, where you were awaiting confirmation, as per the rules. So that is the correct thing to do...wait for confirmation. Good Trade!
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  • #1,374
  • Jun 16, 2010 8:25am Jun 16, 2010 8:25am
Hi Guru,

hmmmmm we are facing 38.2 yearly fibo..... it could be strong R. and 10-15 below this number looks become its barrier to pass this R .... hopefully we can break this number for next bull trip.......just my imo
  • #1,375
  • Jun 16, 2010 8:29am Jun 16, 2010 8:29am
Quoting iqyusan
Hi Guru,

hmmmmm we are facing 38.2 yearly fibo..... it could be strong R. and 10-15 below this number looks become its barrier to pass this R .... hopefully we can break this number for next bull trip.......just my imo
Hey Guru#1,

I have that level looking at too, however the bounces of the 19.1 usually force breaking of the 38.2 for higher levels. Lets see how it goes. We still dont have strong selling and today's low still intact.
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  • #1,376
  • Jun 16, 2010 8:31am Jun 16, 2010 8:31am
Quoting simoneg
Hey Guru#1,

I have that level looking at too, however the bounces of the 19.1 usually force breaking of the 38.2 for higher levels. Lets see how it goes. We still dont have strong selling and today's low still intact.

wait and see mode on .......
  • #1,377
  • Jun 16, 2010 8:32am Jun 16, 2010 8:32am
Quoting iqyusan
wait and see mode on .......
oh yes, with my eyes still looking to the hills
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  • #1,378
  • Jun 16, 2010 8:37am Jun 16, 2010 8:37am
Quoting simoneg
oh yes, with my eyes still looking to the hills
hahahhaha ......... take me there too guru.... My other indi : ichimoku say we are still above the cloud in 1H tf , tenkan above kinjun. 200 Ema : we are above it also. hope we could fly .... but time will tell .....
  • #1,379
  • Jun 16, 2010 8:38am Jun 16, 2010 8:38am
Nice support around 1.4788, today's 50% and current breach level. This to me is the decision level.
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  • #1,380
  • Jun 16, 2010 8:39am Jun 16, 2010 8:39am
Quoting iqyusan
hahahhaha ......... take me there too guru.... My other indi : ichimoku say we are still above the cloud in 1H tf , tenkan above kinjun. 200 Ema : we are above it also. hope we could fly .... but time will tell .....
Cool cool iqyusan!
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