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Simple & Consistent Fibbing Method

  • #1,601
  • Jun 25, 2010 4:44am Jun 25, 2010 4:44am
Quoting a2xm
Bravo occam..! as usual, nice analysis and trade..
why did you pick that low? why not the previous low at 1.4915?
Thx A2xm! Are you talking about the low on the previous candle to the one I used for my blue fib (which is 1.4917 on my chart), as I don't have a low at 1.4915? The candle I used was my swing low - my fractal indicator put a little red dot on it after it started retracing which signified the low... I like the little red dots lol
  • #1,602
  • Jun 25, 2010 5:10am Jun 25, 2010 5:10am
Quoting occamsrazors
Thx A2xm! Are you talking about the low on the previous candle to the one I used for my blue fib (which is 1.4917 on my chart), as I don't have a low at 1.4915? The candle I used was my swing low - my fractal indicator put a little red dot on it after it started retracing which signified the low... I like the little red dots lol
Yes, that one around 4917 far back earlier. Why you not use that? or may be we should pick a low after the London open?
  • #1,603
  • Jun 25, 2010 5:23am Jun 25, 2010 5:23am
Quoting a2xm
Yes, that one around 4917 far back earlier. Why you not use that? or may be we should pick a low after the London open?
Ah ok I see the one you are talking about. You could use that if trading the Asian session. For the moment I look to start my intra day fib at the same time Simone does which is a high or low between 00:00 and 3:00 EST USA. But if I'm trading the asian session, which I do sometimes, then I would have used that low and kept pulliing the high up as the day progressed.

[Edit:] But even if I traded the Asian session I would still start my intra day fib again using the times above as Simone said this method is best suited to those times. This may be a question Simone is best to answer - I'm still a novice with this!
  • #1,604
  • Jun 25, 2010 5:55am Jun 25, 2010 5:55am
We are going to see where current 4 H close. As long as we close above 4900 we AND above our 38 % yearly fino ( +/- 4850 ) , will see bull ( we also should break 61% monthly for this trend ) . If not .... of course bear
  • #1,605
  • Jun 25, 2010 6:03am Jun 25, 2010 6:03am
Quoting iqyusan
We are going to see where current 4 H close. As long as we close above 4900 we AND above our 38 % yearly fino ( +/- 4850 ) , will see bull ( we also should break 61% monthly for this trend ) . If not .... of course bear
Before 4H close... we just got 1H candle close .... here it is ....
Attached Image
  • #1,606
  • Jun 25, 2010 8:04am Jun 25, 2010 8:04am
Quoting occamsrazors
Ah ok I see the one you are talking about. You could use that if trading the Asian session. For the moment I look to start my intra day fib at the same time Simone does which is a high or low between 00:00 and 3:00 EST USA. But if I'm trading the asian session, which I do sometimes, then I would have used that low and kept pulliing the high up as the day progressed.

[Edit:]...
Hi Occam,

I just realized what you've done isn't it reversed the other way? As far as I know is: on a trending down, we fibbing from hi to the previous last low. What you did fibbing from hi to a new low right? That was why I asked you about the low around 1.4917. and if we need to move it again to the previous low is on the 2 days ago around 1.4882.

Please corrected me if wrong. Thanks..
  • #1,607
  • Edited 8:27am Jun 25, 2010 8:13am | Edited 8:27am
Quoting a2xm
Hi Occam,

I just realized what you've done isn't it reversed the other way? As far as I know is: on a trending down, we fibbing from hi to the previous last low. What you did fibbing from hi to a new low right? That was why I asked you about the low around 1.4917. and if we need to move it again to the previous low is on the 2 days ago around 1.4882.

Please corrected me if wrong. Thanks..
50% Breach Fib:
Trending down - fib from high to previous low.
Trending up - fib from low to previous high.
  • #1,608
  • Jun 25, 2010 8:18am Jun 25, 2010 8:18am
Please help to check two screenshot, first screenshot shows it break 50% fib, then I move to second last high and fib 50%, now waiting it drop 1.4930 which is new 50% fib to open long trade on GU, anyone mind to help me check this out? I am using 1H chart on GU, thanks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 10 KB
Click to Enlarge Name: 2.GIF Size: 14 KB
  • #1,609
  • Jun 25, 2010 8:31am Jun 25, 2010 8:31am
Quoting lkthomas
Please help to check two screenshot, first screenshot shows it break 50% fib, then I move to second last high and fib 50%, now waiting it drop 1.4930 which is new 50% fib to open long trade on GU, anyone mind to help me check this out? I am using 1H chart on GU, thanks.
Looks ok, read post# 1206 (page 81).
Aha... simone is here, she will clarify now.
  • #1,610
  • Edited 9:26am Jun 25, 2010 8:44am | Edited 9:26am
Quoting a2xm
Hi Occam,

I just realized what you've done isn't it reversed the other way? As far as I know is: on a trending down, we fibbing from hi to the previous last low. What you did fibbing from hi to a new low right? That was why I asked you about the low around 1.4917. and if we need to move it again to the previous low is on the 2 days ago around 1.4882.

Please corrected me if wrong. Thanks..
Quoting desi
50% Breach Fib:
Trending down - fib from high to previous low.
Trending up - fib from low to previous high.
Are you talking for breach fib or intra day fib a2xm? I wasn't sure about this as well initially. I just checked the first vid and at 5:19 Simone moves the intra day fib high to the low and then adj to next new low as it is made. [Edit: I have been doing like Desi says until PA reverses] [Edit 2: Actually I'm not doing it like Desi says until price is reversing back thru the intra day fib]
  • #1,611
  • Edited 9:05am Jun 25, 2010 8:51am | Edited 9:05am
Quoting a2xm
Hi Occam,

I just realized what you've done isn't it reversed the other way? As far as I know is: on a trending down, we fibbing from hi to the previous last low. What you did fibbing from hi to a new low right? That was why I asked you about the low around 1.4917. and if we need to move it again to the previous low is on the 2 days ago around 1.4882.

Please corrected me if wrong. Thanks..
I think you pull the breach fib back to a previous low when you initially had a intra day fib in an uptrend (ie low to next high) and then PA retraces thru the levels of the intra day fib. You keep pulling the breach fib back to previous lows in that instance to find 50% levels for entry. Have a look at page 5 of that summary PDF I put together the other day, is that what you are talking about? Must admit I'm still not quite 100% on this yet.
  • #1,612
  • Jun 25, 2010 9:09am Jun 25, 2010 9:09am
check this out, anyone mind to explain am I lucky or I really apply this method correctly?!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.GIF Size: 10 KB
Click to Enlarge Name: 2.GIF Size: 14 KB
Click to Enlarge Name: 3.GIF Size: 14 KB
  • #1,613
  • Jun 25, 2010 9:15am Jun 25, 2010 9:15am
Actually now I'm confused again, I'm not doing it like Desi says.... Simone's post 1548 shows a breach fib going from the high to previous low in an uptrend, which is how I'm doing it before price reverses... Think I need to get clarity from Simone when she's less busy...
  • #1,614
  • Jun 25, 2010 9:26am Jun 25, 2010 9:26am
Quoting occamsrazors
Actually now I'm confused again, I'm not doing it like Desi says.... Simone's post 1548 shows a breach fib going from the high to previous low in an uptrend, which is how I'm doing it before price reverses... ...
...that's how i've interpreted this too...seems logical in order to get in on a reversal setup....current breach level for me 4946.
  • #1,615
  • Jun 25, 2010 9:43am Jun 25, 2010 9:43am
Quoting occamsrazors
I think you pull the breach fib back to a previous low when you initially had a intra day fib in an uptrend (ie low to next high) and then PA retraces thru the levels of the intra day fib. You keep pulling the breach fib back to previous lows in that instance to find 50% levels for entry. Have a look at page 5 of that summary PDF I put together the other day, is that what you are talking about? Must admit I'm still not quite 100% on this yet.
Yes, on the page 5 of your summary pdf. What I was trying to say just based on your previous post #1598 and #1600 1st image. I see there your yellow breach fib was on the new low, am I right?

That's OK occam, I also still trying hard to know this method ins and outs, but still often confused. Let's we learn together.

[edit]: maybe you could watch the video 50% Fib part 2.
  • #1,616
  • Jun 25, 2010 9:46am Jun 25, 2010 9:46am
Quoting ChowClown
...that's how i've interpreted this too...seems logical in order to get in on a reversal setup....current breach level for me 4946.
whats the highs and lows of your breach fib at the moment ChowClown?
  • #1,617
  • Jun 25, 2010 9:51am Jun 25, 2010 9:51am
Quoting occamsrazors
whats the highs and lows of your breach fib at the moment ChowClown?
i'm using the 4931 swing low (15 min) and pulling up as new highs on this swing are made...high currently 4979.
  • #1,618
  • Jun 25, 2010 9:54am Jun 25, 2010 9:54am
Quoting occamsrazors
whats the highs and lows of your breach fib at the moment ChowClown?
PA is trying to stay above 61 fibo month... and now tp#1 weekly is re visited .
  • #1,619
  • Jun 25, 2010 9:59am Jun 25, 2010 9:59am
Quoting a2xm
Yes, on the page 5 of your summary pdf. What I was trying to say just based on your previous post #1598 and #1600 1st image. I see there your yellow breach fib was on the new low, am I right?

That's OK occam, I also still trying hard to know this method ins and outs, but still often confused. Let's we learn together.

[edit]: maybe you could watch the video 50% Fib part 2.
I have 3 fibs on that chart. The white is the fibs from yesterdays high and low. The blue is the intra day fib and the yellow is the breach fib. Both the intra day fib and the breach fib are pulled to the same low which is the hammer candle 3 candles before the yellow vertical line. The intra day fib is pulled from high of the day and the breach fib is pulled from the previous high to the current low given by my fractal indicator which is slightly lower than the high... so I am looking for a break or bounce of the 50% breach fib in that instance...got a bounce so went short... hopefully we can confirm this soon
  • #1,620
  • Jun 25, 2010 10:14am Jun 25, 2010 10:14am
Quoting ChowClown
i'm using the 4931 swing low (15 min) and pulling up as new highs on this swing are made...high currently 4979.
ok thx...thats what I would have done if this was the first move of the day (ie low to high). But I started my original intra day fib from high of 4973 and moved it down the low 4855 as things progressed, with the breach following it down, its high moving down to the last swing high with it.

Now price has started to retrace back up and this is where I am having some confusion. I start pulling the highs of the breach back to previous highs to find new 50% breach/bounce levels. This is what Simone's PDF says to do on the EURUSD trend reversal example on page 11/12/13. Problem is the previous high now is way back on 12 May and we have lows in between that high. Not sure what to do here...

[Edit: Doing what you have done with your breach fib makes more sense in this instance I think.]
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