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Simple & Consistent Fibbing Method

  • #1,501
  • Jun 21, 2010 5:06am Jun 21, 2010 5:06am
Quoting simoneg
Hi a2xm,

Yes we use the 50% breach along with the intraday fib.
Also, the intraday targets show the best places to take profit as those are the levels at which the market is likely to pullback or reverse.
Remember also that as the market waves to its ultimate destination for the day, there are interim destinations or pit stops.
Hi Guru,
From the PA :
Is the 4850... gonna be support ? it looks breach level at 4871 broken up . The bear stops here for next bull ?
  • #1,502
  • Jun 21, 2010 5:28am Jun 21, 2010 5:28am
Simoneg,

Is this correct: we have a clean broke of the 38.2 intraday now, is this mean another short signal?
  • #1,503
  • Jun 21, 2010 5:30am Jun 21, 2010 5:30am
Quoting a2xm
Simoneg,

Is this correct: we have a clean broke of the 38.2 intraday now, is this mean another short signal?
Correct a2xm, sorry for the delay. Getting ready to go out.
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  • #1,504
  • Jun 21, 2010 5:32am Jun 21, 2010 5:32am
Quoting iqyusan
Hi Guru,
From the PA :
Is the 4850... gonna be support ? it looks breach level at 4871 broken up . The bear stops here for next bull ?
Hi Guru#1, 1.4850-60 is now resistance, we have broken major H1 Trendline and are closing below the 12am open, looking down for now.
Attached Image (click to enlarge)
Click to Enlarge Name: h1tl.jpg Size: 293 KB
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  • #1,505
  • Jun 21, 2010 5:41am Jun 21, 2010 5:41am
Quoting simoneg
Hi Guru#1, 1.4850-60 is now resistance, we have broken major H1 Trendline and are closing below the 12am open, looking down for now.
Ok guru.... i got the point. I was thinking another side that 4835-4850 was our strong resistance last week and we did not break the gap right now.

Things that i am thingking also that massive reversal... how strong it is gonna be ...ref to your page 15 ( last week, we did not hit our TP yet )

confuse mode on
  • #1,506
  • Jun 21, 2010 5:44am Jun 21, 2010 5:44am
Quoting iqyusan
Ok guru.... i got the point. I was thinking another side that 4835-4850 was our strong resistance last week and we did not break the gap right now.

Things that i am thingking also that massive reversal... how strong it is gonna be ...ref to your page 15 ( last week, we did not hit our TP yet )

confuse mode on
Hi guru#1, yes strong support at 1.4830 needs to be watched. We have price rejection to the upside with failure to reach Weekly Bull Targets, so we could be heading down but need to see 1.4830 and 1.4805 breaking.
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  • #1,507
  • Jun 21, 2010 6:21am Jun 21, 2010 6:21am
Quoting simoneg
Hi guru#1, yes strong support at 1.4830 needs to be watched. We have price rejection to the upside with failure to reach Weekly Bull Targets, so we could be heading down but need to see 1.4830 and 1.4805 breaking.
Our today high is 4936 ( within our last week bull TP#1 and TP#2 ). After we hit 4936.... we see already reversal around 100 pips.

4835 looks strong support ( but still should be confirmed later .. )

We are still in above 200 ema ( H4 ) and above cloud ( ichimoku H4 ) : bullish sentiment

Gap not broken yet

as long as 4835 not broken down... is this our support ?


***
  • #1,508
  • Jun 21, 2010 6:23am Jun 21, 2010 6:23am
Quoting iqyusan
Our today high is 4936 ( within our last week bull TP#1 and TP#2 ). After we hit 4936.... we see already reversal around 100 pips.

4835 looks strong support ( but still should be confirmed later .. )

We are still in above 200 ema ( H4 ) and above cloud ( ichimoku H4 ) : bullish sentiment

Gap not broken yet

as long as 4835 not broken down... is this our support ?


***
Yes Guru#1, I am still holding that level as strong support/possible buy level.
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  • #1,509
  • Jun 21, 2010 6:27am Jun 21, 2010 6:27am
Quoting simoneg
Yes Guru#1, I am still holding that level as strong support/possible buy level.
and our 19.1 intraday around this number also .....

well i will go off for a while ... see you at US open

Thank you guru...
  • #1,510
  • Jun 21, 2010 6:27am Jun 21, 2010 6:27am
Quoting iqyusan
and our 19.1 intraday around this number also .....

well i will go off for a while ... see you at US open

Thank you guru...
Yes guru...see u later!
Hero Traders Live to see their Accounts Die!
  • #1,511
  • Jun 21, 2010 7:49am Jun 21, 2010 7:49am
Hi Simone

I've been going thru the pdf, posts and vids for the last few days. Thanks for making the effort to start and continue with this thread. Took my first trade earlier today using your method with the break of the Breach 50% Fib around 4905 short after the daily T1 target had been hit and it worked very nicely . One trade doesn't make a summer but maybe a little of what I read has sunk in! And watched a couple more work out after that. V nice.

I read in earlier posts discussion about a webinar you were going to do a little while ago and that you were going to try to record it. Just wondering if you were able to do so and whether I might be able to get access to it?

Thanks

Occam
  • #1,512
  • Jun 21, 2010 8:17am Jun 21, 2010 8:17am
Quoting occamsrazors
Hi Simone

I've been going thru the pdf, posts and vids for the last few days. Thanks for making the effort to start and continue with this thread. Took my first trade earlier today using your method with the break of the Breach 50% Fib around 4905 short after the daily T1 target had been hit and it worked very nicely . One trade doesn't make a summer but maybe a little of what I read has sunk in! And watched a couple more work out after that. V nice.

I read in earlier posts discussion about a webinar you were going to do a little while...
Hi occamsrazors,

Glad to hear you are learning the method. Keep practicing and building your confidence with it. That webinar is gonna haunt me I tell you. Been putting off downloading it and I think I shall do it right now and sort it out this week before anyone else asks.
Will post an update once I am done.
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  • #1,513
  • Jun 21, 2010 8:38am Jun 21, 2010 8:38am
Hi Simone
Just want to you 'thank you' for your lessons on Forex Factory and your hard work in creating videos and pdf.

I'm into Fibbing, but I am fairly new trader. I have been reading Bobokus threads, and learning as much as about about Fibonacci method of trading.
I personally believe this method of trading is excellent. Hence my problem of trading is when to exit and enter a trade.

I was logging into you chat room. What time, is the best time to log in with other traders? I would like to part of the Fibonacci trading community.
I am from Australia.
God Bless
Lawton
  • #1,514
  • Jun 21, 2010 8:44am Jun 21, 2010 8:44am
Quoting simoneg
Hi occamsrazors,

Glad to hear you are learning the method. Keep practicing and building your confidence with it. That webinar is gonna haunt me I tell you. Been putting off downloading it and I think I shall do it right now and sort it out this week before anyone else asks.
Will post an update once I am done.
Lol...the webinar ghost strikes again apparently! Don't want to disturb your trading, obviously there's no rush at all..look forward to seeing it whenever its ready.
  • #1,515
  • Jun 21, 2010 8:52am Jun 21, 2010 8:52am
Quoting occamsrazors
Lol...the webinar ghost strikes again apparently! Don't want to disturb your trading, obviously there's no rush at all..look forward to seeing it whenever its ready.
Certainly has occamsrazors. No worries...just closed out my shorts for the day, will see where we are at tomorrow. I know others have been waiting for it as well so I am downloading them today for editing.
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  • #1,516
  • Edited 10:49pm Jun 21, 2010 10:06pm | Edited 10:49pm
Morning all,

Is this correct:

Are we fibbing yesterday's hi-low to find today's Targets (T1 & T2)?
  • #1,517
  • Edited Jun 22, 2010 3:29am Jun 21, 2010 11:07pm | Edited Jun 22, 2010 3:29am
need help..

is this a good swing before the breach?

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-22_120323.gif Size: 21 KB


while this one is after the breach.. moving up the fib to the prev high
the blue line is the previous breach.

am i correct to draw the fib like this?

thanks

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-22_162106.gif Size: 24 KB
  • #1,518
  • Edited 1:54am Jun 22, 2010 1:40am | Edited 1:54am
Slowly coming to grips with Simone's Fib method. Here's a trade I took a short while ago. I put an intra day fib (blue) on the move up, then put a breach fib (orange fib ) pulled back to low of yesterday. The 50% level - red line (23:15 is the candle I used for the low) was broken once, then PA reversed and stayed below it, giving short signal. PA was also under the 38.2 intra fib level. We got a hammer short bouncing off the trendline so entered short on the next open (yellow dotted line). PA went down to the T1 target. Nice! Hope the above logic was correct!

http://i228.photobucket.com/albums/e...0100122m15.gif
  • #1,519
  • Jun 22, 2010 2:03am Jun 22, 2010 2:03am
Good day family,
seems only yesterday but it has long been past that. We have achieved more than 100 pages and 1500 posts of consistent sharing and growth.

Just a thought and some encouragements to the participants in making these successes. thus far. It will continue to be as good as we make it.


Continued strength and blessings to all. By way of major/special mentions Madame Simoneg, Sirs: Aswilled & SteveHopwood.

Let us continue in the pleasure of giving first, so that whomsoever will... may learn to profit.
Bless
  • #1,520
  • Edited 5:40am Jun 22, 2010 5:10am | Edited 5:40am
Second trade today. Put intra day fib on last move up. PA moved strongly below the initial 50% breach fib level 4796 and the 38.2. It didn't get anywhere near the second 50% breach level at 4761 for a long move. Went short after retrace to the TL and the 4747 resistance level from earlier in the day. Exit at T2 on the intraday fib. The daily fib T1 target from yesterdays high/low was below but not yet ready to hang in until then just yet! Very interested to see if it gets there.

http://i228.photobucket.com/albums/e...2m15trade3.gif

Looking at the above chart this move for this fib is now over. Can someone pls confirm when I update the intraday fib to the new low. Is the pullback on the next candle sufficient to update the intra day fib or do I need to wait for PA to retrace back to the 0.0% fib level? Thanks Occam
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