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Simple & Consistent Fibbing Method

  • #1,681
  • Jul 1, 2010 1:42am Jul 1, 2010 1:42am
Quoting aswilled
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?
Good questions Aswilled. My bias was to the downside. Sunday and Monday's trade was down. The EUR/USD reversed on Tuesday (see image). I expected the short trend to continue because of the hanging man / evening star that closed at 1am Wednesday (time set to PST). The 15M candle that broke south of the 50% fib closed below the 38% fib as well, so I shorted. In retrospect, the prior week's low (0% red fib line) had become resistance on Tuesday. No surprise that it became support again on Wednesday. Coincidentally, that was also the level of the 19% line on the white intra-day fib. My big mistake may have been not paying enough attention to that support level. Lesson learned! Can you see anything else obvious that I've overlooked?

Thanks very much for the excellent question!

Rick
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.JPG Size: 245 KB
  • #1,682
  • Jul 1, 2010 5:29am Jul 1, 2010 5:29am
Quoting iqyusan
art of end of the month.
hopefully this month will close above 38 % fibo for bull ....

Edit : 38 % fibo - year and 61 % fibo - month

keep an eye for this level for any trend
  • #1,683
  • Jul 2, 2010 3:12am Jul 2, 2010 3:12am
Hello..

It's getting quiet here lately. Where's everybody?
  • #1,684
  • Jul 2, 2010 6:01am Jul 2, 2010 6:01am
Quoting a2xm
Hello..

It's getting quiet here lately. Where's everybody?
because everybody is studying the pdf and the vids bro
  • #1,685
  • Jul 2, 2010 7:50am Jul 2, 2010 7:50am
Gm a2xm I think you are right..nfp week too
Hero Traders Live to see their Accounts Die!
  • #1,686
  • Jul 2, 2010 7:56am Jul 2, 2010 7:56am
yay! simone is back..
hope you are doing great!
  • #1,687
  • Jul 2, 2010 8:11am Jul 2, 2010 8:11am
Quoting sepak.orang
yay! simone is back..
hope you are doing great!
Hey sepak.orang,

Thanks for the hearty welcome! I am doing pretty good...just recovering from the end of month busyness to resume my forum participation next week. How is it going?
Hero Traders Live to see their Accounts Die!
  • #1,688
  • Jul 2, 2010 8:19am Jul 2, 2010 8:19am
Quoting simoneg
Hey sepak.orang,

Thanks for the hearty welcome! I am doing pretty good...just recovering from the end of month busyness to resume my forum participation next week. How is it going?
hm.. im still learning this method. need a lot of practice realtime.

simone, is there a possibility to watch you trade with live data?
  • #1,689
  • Jul 2, 2010 8:22am Jul 2, 2010 8:22am
Quoting sepak.orang
hm.. im still learning this method. need a lot of practice realtime.

simone, is there a possibility to watch you trade with live data?
Take your time sepak.orang, when u say live data, you mean see my charts in a video explaining setups and seeing where I take entries and what the market does afterwards?
Hero Traders Live to see their Accounts Die!
  • #1,690
  • Jul 2, 2010 8:26am Jul 2, 2010 8:26am
Quoting simoneg
Gm a2xm I think you are right..nfp week too
Hi Simone, good to see you again
I'm waiting for your post here.. may be you've done with some new videos tutorial? the LIVE version I guess?

cheers...
  • #1,691
  • Jul 2, 2010 8:27am Jul 2, 2010 8:27am
Quoting simoneg
Take your time sepak.orang, when u say live data, you mean see my charts in a video explaining setups and seeing where I take entries and what the market does afterwards?
yes.. thats what i mean.
  • #1,692
  • Jul 2, 2010 8:31am Jul 2, 2010 8:31am
Quoting a2xm
Hi Simone, good to see you again
I'm waiting for your post here.. may be you've done with some new videos tutorial? the LIVE version I guess?

cheers...
Hi a2xm, thank you! When they come they come, not giving any timelines at all as time has been eluding me. So...in time.
Hero Traders Live to see their Accounts Die!
  • #1,693
  • Jul 2, 2010 8:38am Jul 2, 2010 8:38am
Quoting simoneg
Hi a2xm, thank you! When they come they come, not giving any timelines at all as time has been eluding me. So...in time.
Sure Simone, just take your time.. I'll wait patiently for this great method
  • #1,694
  • Jul 2, 2010 8:47am Jul 2, 2010 8:47am
Quoting a2xm
Sure Simone, just take your time.. I'll wait patiently for this great method

Thanks a2xm! sepak.orang I hope I have answered your question as well.
Hero Traders Live to see their Accounts Die!
  • #1,695
  • Jul 2, 2010 8:50am Jul 2, 2010 8:50am
Quoting simoneg
Thanks a2xm! sepak.orang I hope I have answered your question as well.
sure simone
thanks!
  • #1,696
  • Jul 2, 2010 8:51am Jul 2, 2010 8:51am
Quoting sepak.orang
sure simone
thanks!
oki doke...back to work. Have a great weekend All!
Hero Traders Live to see their Accounts Die!
  • #1,697
  • Jul 2, 2010 4:18pm Jul 2, 2010 4:18pm
Quoting RickInRedmon
Good questions Aswilled. My bias was to the downside. Sunday and Monday's trade was down. The EUR/USD reversed on Tuesday (see image). I expected the short trend to continue because of the hanging man / evening star that closed at 1am Wednesday (time set to PST). The 15M candle that broke south of the 50% fib closed below the 38% fib as well, so I shorted. In retrospect, the prior week's low (0% red fib line) had become resistance on Tuesday. No surprise that it became support again on Wednesday. Coincidentally, that was also the level of the 19%...
Reading the pdf and watching the videos again and again.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,698
  • Jul 3, 2010 3:29am Jul 3, 2010 3:29am
Hi SCFM family......

Will 38.2 % - 50 % area of our Yearly Fibo be our trading range for the following week ?

Happy weekend to you all
Attached Image (click to enlarge)
Click to Enlarge Name: weekly first of july 2010.JPG Size: 57 KB
  • #1,699
  • Jul 6, 2010 3:52pm Jul 6, 2010 3:52pm
Let print money people. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,700
  • Jul 6, 2010 9:59pm Jul 6, 2010 9:59pm
for using 50% fib, you will have to do bias in your mind that if the trend is going to break 50% up or break down. what tools could you guys using to do this bias job? 50% just entry, you could enter short or long when price hit 50%, please advice.
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