Fibonacci Paradise | Page 50 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

1M & 5M Scalping System (Scalping Paradise) 21 replies

Are we living in a fool's paradise? 8 replies

Back From Paradise: Lessons to Learn 19 replies

fibonacci 4 replies

Attachments: Fibonacci Paradise
Exit Attachments

Fibonacci Paradise

  • #981
  • Jul 2, 2010 5:19pm Jul 2, 2010 5:19pm
Quoting forextrader9
Hi Thom/Mis, in the single candle setups, what are the types of candles that you have seen good success with? I have had good success with pin bars.

Thanks for sharing your thoughts.
Hello. I don't look for any particular candle shapes, it's more about the fib being in the right place and what is pierced and what is respected. I'm still learning mind you.

MD.
Keep smiling
  • #982
  • Jul 2, 2010 5:54pm Jul 2, 2010 5:54pm
I was trying to box in the last up move on GY 30min. I don't actually know what I'm doing with this to be honest but this is more to air my findings.

I started at the beginning of the swing and pulled so that the fib was pefectly complete or incomplete. I worked up the swing from each s/r point. I ended up with a mass of lines like the Nasca plains, like them I couldn't make sense of them. I took them all off and decided to use just one and try it individually moving up the swing starting from different s/r points. I found this fib, I guess it's usable. it all respects in the current swing.

Attached Image (click to enlarge)
Click to Enlarge Name: gy020710.JPG Size: 60 KB


MD.
Keep smiling
  • #983
  • Jul 2, 2010 6:03pm Jul 2, 2010 6:03pm
How about this for a monthly cable chart looking North. Price boxed in nicely and we are pierced.

Attached Image (click to enlarge)
Click to Enlarge Name: cable monthly.JPG Size: 80 KB


MD.
Keep smiling
  • #984
  • Jul 2, 2010 7:11pm Jul 2, 2010 7:11pm
Quoting Misterdaz
I was trying to box in the last up move on GY 30min. I don't actually know what I'm doing with this to be honest but this is more to air my findings.

I started at the beginning of the swing and pulled so that the fib was pefectly complete or incomplete. I worked up the swing from each s/r point. I ended up with a mass of lines like the Nasca plains, like them I couldn't make sense of them. I took them all off and decided to use just one and try it individually moving up the swing starting from different s/r points. I found this fib, I guess it's...
looks right to me..and yes if you use too many fibs it gets confusing and you ahve to tak the sequentially and pay attention to the order etc.. it gets to be a big mess.

TK
  • #985
  • Jul 4, 2010 4:27am Jul 4, 2010 4:27am
I hope you are all enjoying your weekends. Looks like the World cup is heading for der Germans.

Thom, I've seen you say before that you are not that keen on tracking price due to the leg work or some such comments but it would seem invaluable for us in "training". Do you usually start out by tracking price to get a good idea of where we are now?

Boxing in. So, do you use this to tighten in your stop or watch for possible turning points in price? Sorry I'm trying to see the value in using this and how it can best be applied. I have so much spinning around in my head again I have one fib method overlapping with another which isn't always a good thing as it can paralyse one's trading style.

One other thing I am really finding contradictory. The stop goes on the other side of the fib. Skunny would exit some trades even if he was right. A lot of time we lose beacause our stop is in the wrong place. So we stick to the game plan and put the crazy stop the other side, but I exit early and take a loss. What's the point of the stop the other side? Do I exit beacause I've found a fib heading the other way, is that what this means?

Is it too early for whisky?

Thom, obvioulsy since Skunny has long left these forums you are the man with the answers and thankfully you are kind enough to persevere with us. These are not complaints by the way but I sometimes question what I am doing, especially when one trade wipes out 5 good ones.

The fibs are good but if you don't know how to use them you will wipe yourself out in no time.

I'm off to do some wiring, BarTstop, get your arse over here!

MD.
Keep smiling
  • #986
  • Jul 4, 2010 9:16am Jul 4, 2010 9:16am
Md good questions... this is a shite answer..for now.. but you have to work with everything to see what works for you...this can get insanely convoluted and complex and you can map oout sequential hierarchal movements in price and turnarounds to the nth degree or just as simple as a 61.8 to 50 and only take those... truth be told mate i had long response typed but i was on my balconey and the wireless fluttered and poof hitting reply made your post turn into a 404 error and all was lost.. yes DO some backwork befor you trade.. jumping into any market pants down is rediculous.

maybe you walk through say gy1.. no need for grandious 4hr d1 charts... just do 1 hr or 4 hr starting at the 5/20 low.. you should be able to tell what is going on now from that post and we can go over it i have this already mapped out so should be a cinch to go over.
  • #987
  • Jul 4, 2010 11:02am Jul 4, 2010 11:02am
Careful on that balcony. I know we are frustrating but don't jump on our account, lol.

MD.
Keep smiling
  • #988
  • Jul 4, 2010 11:36am Jul 4, 2010 11:36am
Quoting Misterdaz
Careful on that balcony. I know we are frustrating but don't jump on our account, lol.

MD.
Right-o it takes a lot to fluster me these day but if you get a cance map out gy just using the 61.8 from that date it could help you and most certainly help me help you. there is right answer showing where gy is going and where it is going next also giving you where to start fibbing for active trades setting stops etc.. basically a gy trading tool box just from that simple frame.

TK
  • #989
  • Edited 12:41pm Jul 4, 2010 12:08pm | Edited 12:41pm
GU now.. i still have it much much longer but i don't trade in the future this is where i am currently on this move. i highlighted the conjunction of the stoch and the target since this may help. mayn't as always look for reason to short off of a target hit... but it appears that we have the ability to move short fast and for a second if we do.. i would have to zoom in to see what was going on.

Tk
edit of note when you see "quick"(relative to the time frame) spikes like that last move... oft times it is price reaching to tap a target before switching direction.This is also helpful if you don't know where you are in the move and see something like this you can back figure a hit target. Most quick( random wink wink) spikes are that... think news etc..

edit were it not for weekend shift I would comfortably short targetting .5139 to start from 30.1hr charts in conjunction with the 4hr. easy peezy stop at 5203 ish or none at all.
Attached Image (click to enlarge)
Click to Enlarge Name: guh4.gif Size: 25 KB
  • #990
  • Jul 4, 2010 12:50pm Jul 4, 2010 12:50pm
Will be all over GY later thanks. Got my hammer out, I love hammering nails in wood, it brings out the builder in me. Oi darling, show us your knickers!

Sorry, got carried away.

MD.
Keep smiling
  • #991
  • Jul 4, 2010 1:07pm Jul 4, 2010 1:07pm
Quoting Misterdaz
Will be all over GY later thanks. Got my hammer out, I love hammering nails in wood, it brings out the builder in me. Oi darling, show us your knickers!

Sorry, got carried away.

MD.
Good news! Well I most likely will be into my cups later so this may be a monday project for me to review.. or a very colourful one later today mate!
  • #992
  • Jul 4, 2010 1:55pm Jul 4, 2010 1:55pm
Quoting ThomKnight
Good news! Well I most likely will be into my cups later so this may be a monday project for me to review.. or a very colourful one later today mate!
Thom, I gotta ask, what are your cups?
Keep smiling
  • #993
  • Jul 4, 2010 5:21pm Jul 4, 2010 5:21pm
Quoting Misterdaz
Thom, I gotta ask, what are your cups?
Beers probably, you know Yanks and their larger
20 pips a day isn't too much to ask . . .
  • #994
  • Jul 4, 2010 5:26pm Jul 4, 2010 5:26pm
So here goes. The first chart is a 4h, not because I want to trade that timeframe but because it's easier to fit it all on the page. I thought there might be another position here but I went with this as it seemed to fit nicely for a pullback.

Attached Image (click to enlarge)
Click to Enlarge Name: gta.JPG Size: 116 KB


As per above chart where I have gone for a 138 fit I am therefore looking for a reversal back down. I pulled this next chart first to the first 61.8 pullback. There is an earlier pullback point but it is so close to the pulling point I will ignore it. This fib did no pierce to the downside but turned and went back above the 61.8 so I thought that swing down could have completed. I could not find a 138 fitting fib to that point, even on the hour or 30min. I then thought I'd try the fib on the chart below that.

Attached Image (click to enlarge)
Click to Enlarge Name: gyd.JPG Size: 113 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gyb.JPG Size: 117 KB


The above is a one hour chart, the rest are 4h.

After the above perhaps dubious completion I turned the fib back around and currently have it set in this position below.

Attached Image (click to enlarge)
Click to Enlarge Name: gyc.JPG Size: 115 KB


I'll mention again, I don't trade 4h but there is a lot of price to fit in so 4h encompasses it better. I do drop down to find more detail usually.

If the first fib is wrong then probably all the following fibs are wrong but hopefully these will help you highlight where I am going wrong some of the time Thom.

Thanks MD.
Keep smiling
  • #995
  • Jul 4, 2010 5:29pm Jul 4, 2010 5:29pm
Quoting RaptorUK
Beers probably, you know Yanks and their larger
How you doing Raptor? Sticking with the fibs? Thom I believe is Scottish although he lives in the States. Don't they measure things in cups out there?

MD.
Keep smiling
  • #996
  • Jul 4, 2010 7:26pm Jul 4, 2010 7:26pm
here is what i have in gy... you first pull is wrong because it didnt pierce off of the 61.8 and made lower lows... if it pierces.... leave it... if it doesnt and makes lower lows... move it...

we got a hit to the 100 from that or if you issed that anchor for the 61.8 no trigger long... sooo you would have been tra ck short.. now i mixed it up... first yellow box would have been a possible anchor for the long fib if you missed the one we are on or were maybe looking to trigger a long...

now tracking short the blue.. the first yellow is where it starts a trigger shiort.. and the yellow box is the squential where we end and voila a to the tick hit.. there where many more trades in here but this is where it stopped picture number two is showing that black lines swing triggering you long.. so you can see how you can be both long and short or maybe go short in a long or long in a short or use your short to get a great entry into your long... confused yet? chuckle.. and the yellow box on chart two is what i would be trdig right now. 134.4 ish on the way to 136.6
now as always i could have messed up but this made sense sober. chuckle.

so at the moment from these charts we have no open short and only open long.
TK
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gy.gif Size: 21 KB
Click to Enlarge Name: gy2.gif Size: 20 KB
  • #997
  • Jul 4, 2010 7:32pm Jul 4, 2010 7:32pm
Quoting Misterdaz
So here goes. The first chart is a 4h, not because I want to trade that timeframe but because it's easier to fit it all on the page. I thought there might be another position here but I went with this as it seemed to fit nicely for a pullback.

Attachment

As per above chart where I have gone for a 138 fit I am therefore looking for a reversal back down. I pulled this next chart first to the first 61.8 pullback. There is an earlier pullback point but it is so close to the pulling point I will ignore it. This fib did no pierce to the...
only your first one couldnt be mechaqnically and seqentially pulled so you are fine
  • #998
  • Jul 4, 2010 11:10pm Jul 4, 2010 11:10pm
fromt the fibs 132.8 seems to be lift off point eh? last stop if you will.
  • #999
  • Jul 4, 2010 11:47pm Jul 4, 2010 11:47pm
the devlopment of the gu call.. MD can you see how price is perfectly mapped out with stops and targets and turns? wait and watch and trade. two fibs simple.

TK
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB
  • #1,000
  • Jul 5, 2010 12:08am Jul 5, 2010 12:08am
Thanks Thom. The good news is the first fib you drew was the other one I toyed with, honest. That helps me. Gotta get ready for work.

Talk later.

MD.
Keep smiling
0 traders viewing now