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Simple & Consistent Fibbing Method

  • #1,661
  • Jun 28, 2010 10:29am Jun 28, 2010 10:29am
Quoting occamsrazors
Ah yep...good point aswilled.

The thing I've been trying to work out with this method is when we pull the breach fib this way, why is the 50% level important or rather why does it act as S/R? In that example I gave there are lower lows in between the low for the breach fib and the high. Pullling to that high back on May 6 from the intra day low with the lower lows from previous days in between seems weird. I can't get my head around the logic. Why does it work? It wouldn't appear to be a level that other traders are looking at?
It is what it is. And it is the levels that the money men are trying to get to. Otherwise it wouldn't work. You can always tell what other traders are doing by seeing works and what doesn't.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,662
  • Jun 28, 2010 11:01am Jun 28, 2010 11:01am
Hi Simone, thank you for sharing your system. I am having trouble getting the template from Bobokus to work properly in the sense that I can use the 'up trend' fibs but can't seem to activate any of the others - do I double click on them on the templated chart? How do I swap between the various fibs he has set up? Thanks, Joel
  • #1,663
  • Jun 28, 2010 11:35am Jun 28, 2010 11:35am
Quoting jswin
Hi Simone, thank you for sharing your system. I am having trouble getting the template from Bobokus to work properly in the sense that I can use the 'up trend' fibs but can't seem to activate any of the others - do I double click on them on the templated chart? How do I swap between the various fibs he has set up? Thanks, Joel
Design the fibs yourself and set them as templates. You can even template the entire chart once you have everything set up.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,664
  • Jun 28, 2010 1:21pm Jun 28, 2010 1:21pm
It doesn't look like we will hit monthly bull targets of 5714-5947. We have three days left to this month and I think price will hang around monthly resistance @5126. Next month will open up with an aggressive move to achieve bull targets, or a retracement to support @4443, if its not halted at the long, pivot, or short (4914, 4787, or 4655), before further buying should resume. Remember I said this going into the month of May. And those who listened printed money. Friday should be choppy if it doesn't give us a clear direction for next week. And next friday is NFP. The grand daddy of forex. And if we hang under monthly resistance, we will not even achieve our weekly targets. With this knowledge people it should be no problem printing money over the next ten to fourteen business days. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,665
  • Jun 28, 2010 4:18pm Jun 28, 2010 4:18pm
Quoting aswilled
It doesn't look like we will hit monthly bull targets of 5714-5947. We have three days left to this month and I think price will hang around monthly resistance @5126. Next month will open up with an aggressive move to achieve bull targets, or a retracement to support @4443, if its not halted at the long, pivot, or short (4914, 4787, or 4655), before further buying should resume. Remember I said this going into the month of May. And those who listened printed money. Friday should be choppy if it doesn't give us a clear direction for next week. And...
NFP is this friday
  • #1,666
  • Jun 28, 2010 5:00pm Jun 28, 2010 5:00pm
Quoting turboguru
NFP is this friday
Oh I forgot this is the first friday. That explains the stalling. Well big poppa will set gu straight.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,667
  • Jun 29, 2010 1:29am Jun 29, 2010 1:29am
Quoting aswilled
It doesn't look like we will hit monthly bull targets of 5714-5947. We have three days left to this month and I think price will hang around monthly resistance @5126. Next month will open up with an aggressive move to achieve bull targets, or a retracement to support @4443, if its not halted at the long, pivot, or short (4914, 4787, or 4655), before further buying should resume. Remember I said this going into the month of May. And those who listened printed money. Friday should be choppy if it doesn't give us a clear direction for next week. And...
I like your analysis Aswilled
  • #1,668
  • Jun 29, 2010 5:58am Jun 29, 2010 5:58am
Quoting aswilled
Design the fibs yourself and set them as templates. You can even template the entire chart once you have everything set up.
Hi, thank you for your response. I will do just that
  • #1,669
  • Jun 29, 2010 9:30am Jun 29, 2010 9:30am
Quoting aswilled
Read the book and watch the videos over and over until it becomes clear. Because me and simone will only tell you what's in them materials. Study and practice, and study and practice til you get it.
Thanks Aswilled. I'm still wondering what the logic is behind pulling the breach fib in the way Simone does - i understand the logic behind the Bobokus element to the strategy and i'd like to be clear about the reasoning/research behind the breach fib before using in earnest...
  • #1,670
  • Jun 29, 2010 2:04pm Jun 29, 2010 2:04pm
Quoting ChowClown
Thanks Aswilled. I'm still wondering what the logic is behind pulling the breach fib in the way Simone does - i understand the logic behind the Bobokus element to the strategy and i'd like to be clear about the reasoning/research behind the breach fib before using in earnest...
It forms s/r.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,671
  • Jun 30, 2010 5:18am Jun 30, 2010 5:18am
Simone & Guys,
after a trend reversal which set of fibs do you use if and when it continues back into the trend direction? The one that the price maxed out on?
  • #1,672
  • Jun 30, 2010 6:13am Jun 30, 2010 6:13am
Quoting robster
Simone & Guys,
after a trend reversal which set of fibs do you use if and when it continues back into the trend direction? The one that the price maxed out on?
You use the same fibs going up and down.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,673
  • Jun 30, 2010 6:20am Jun 30, 2010 6:20am
When you start a new day, the daily trend up, but the 00-3
oclock trend down,which way do you fib the 50% fib
  • #1,674
  • Jun 30, 2010 6:22am Jun 30, 2010 6:22am
art of end of the month.
hopefully this month will close above 38 % fibo for bull ....

Edit : 38 % fibo - year and 61 % fibo - month
  • #1,675
  • Jun 30, 2010 6:29am Jun 30, 2010 6:29am
Quoting aswilled
You use the same fibs going up and down.
thanks, that's what I did in the end. It went to -55% than back up to 80%. I entered after the close below the 50% breach.
I like this method!!
  • #1,676
  • Jun 30, 2010 8:03am Jun 30, 2010 8:03am
bro iqyu,
are you online??
can you come into chatroom?
  • #1,677
  • Jun 30, 2010 12:39pm Jun 30, 2010 12:39pm
Quoting Jean36
When you start a new day, the daily trend up, but the 00-3
oclock trend down,which way do you fib the 50% fib
In the direction the market is moving. Please watch the video and read the pdf.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,678
  • Jun 30, 2010 4:44pm Jun 30, 2010 4:44pm
Hi Simone and Aswilled -- Thanks for sharing your expertise! I've been reading this thread (through page 52 ) and practicing the method. Last night's EUR/USD action left me with a question.

I fibbed prices from midnight to 3pm -- the EUR was rising. The market corrected and closed below the 50% fib on a 15 min candle. I shorted. A few candles later, the market retraced and closed back above the original 50% fib. Should I have closed my short and gone long at that point?

If the answer is "yes, I should have reversed my trade and gone long", should I have left the 0-50-100 fib where it was originally or should I have redrawn it using the last completed move (the short retracement)?

Thanks once again!

Rick
  • #1,679
  • Jun 30, 2010 8:44pm Jun 30, 2010 8:44pm
Quoting RickInRedmon
Hi Simone and Aswilled -- Thanks for sharing your expertise! I've been reading this thread (through page 52 ) and practicing the method. Last night's EUR/USD action left me with a question.

I fibbed prices from midnight to 3pm -- the EUR was rising. The market corrected and closed below the 50% fib on a 15 min candle. I shorted. A few candles later, the market retraced and closed back above the original 50% fib. Should I have closed my short and gone long at that point?

If the answer is "yes, I should have reversed my trade and gone long",...
Are you watching the daily and intraday fibs to see if you are in a buy or sell zone? You have to also analyse the weekly and monthly at times. You have to trade in the direction of the trend. And what were the candlesticks telling you? Was the market making a new swing because it hit a s/r or trend line? These factors have to be answered before you ever use the breach fib, or I or simone answering your questions.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,680
  • Jul 1, 2010 12:17am Jul 1, 2010 12:17am
Quoting aswilled
Are you watching the daily and intraday fibs to see if you are in a buy or sell zone? You have to also analyse the weekly and monthly at times. You have to trade in the direction of the trend. And what were the candlesticks telling you? Was the market making a new swing because it hit a s/r or trend line? These factors have to be answered before you ever use the breach fib, or I or simone answering your questions.
Aha.. These are also my problems so far and it was just out of my thought. Thanks Rick for the question and Aswilled for the clear answer.

cheers..
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