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Fibonacci Paradise

  • #1,021
  • Jul 5, 2010 2:57pm Jul 5, 2010 2:57pm
Thom. Does this look right?
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  • #1,022
  • Jul 5, 2010 4:39pm Jul 5, 2010 4:39pm
The next logical place I see the cable fib is as below unless we delve down to a 15min chart. Then where do you draw the line? This is a 30 min but the 1h is in a similar position.

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MD.

Edit: BarTstop your first Cable daily chart is correct. It's the same as Thom's 4h in post 989 and I believe I have posted it earlier somewhere as well. The 30 min I'm not so sure due to a mistake I made last night re GY.
Keep smiling
  • #1,023
  • Jul 5, 2010 4:45pm Jul 5, 2010 4:45pm
Quoting Misterdaz
The next logical place I see the cable fib is as below unless we delve down to a 15min chart. Then where do you draw the line? This is a 30 min but the 1h is in a similar position.

Attachment

MD.
Are we not looking backwards (previous swing) anymore?
  • #1,024
  • Jul 5, 2010 5:07pm Jul 5, 2010 5:07pm
I'm seeing this over and over. When you can't find the 61.8 on the current swing, look at the previous. I could be wrong. Thom will let us know when he gets out of his cup.

Bartstop
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  • #1,025
  • Jul 5, 2010 5:13pm Jul 5, 2010 5:13pm
And another.
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  • #1,026
  • Jul 5, 2010 5:27pm Jul 5, 2010 5:27pm
Quoting bartstop
Are we not looking backwards (previous swing) anymore?
I've been watching Thom, he looks forward, if it lines up in the past as well then it adds weight to now. Thom does throw those wild fibs in now and then that cross mountain ranges but I'm trying to learn the follow price routine so I can trade in the right direction. That would be more than half the battle won for me.

The fib stacking idea you like will come into it eventually beacause what you are doing is boxing in price, this brings your stop in tighter. I was just looking at EY, I had about 4 fibs on it, too many lines!

MD.
Keep smiling
  • #1,027
  • Jul 5, 2010 5:41pm Jul 5, 2010 5:41pm
Here's 3 charts on EY. I dropped to a 30 min to find enough s/r.

This first chart is where I believe the main fib for this swing should be, I've then drawn 2 others which are sprung from the 61's of the previous ones. You don't have to draw them from there, you can start from any s/r point and draw to where they logically should sit. The last fib looks good eh?

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MD.
Keep smiling
  • #1,028
  • Jul 6, 2010 2:01am Jul 6, 2010 2:01am
Thom I couldn't find a reason for the cable downswing to complete going by what I have learnt recently unless I consider price had not pierced on my last fib and it moved back through my 61.8.

MD.
Keep smiling
  • #1,029
  • Jul 6, 2010 2:38am Jul 6, 2010 2:38am
This is what I mean about cable at the moment. The black fib is where I believe the current short move should be and it is not pierced, price has move back up past the black 61.8. So I put the red fib on looking long. This looks right to me.....

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MD.
Keep smiling
  • #1,030
  • Jul 6, 2010 5:25am Jul 6, 2010 5:25am
This chart will make your eyes sore and is a good axample of why I don't like too many fibs on my chart. Black fib, my current short fib. Red fib covers the current long move. The blue was me fiddling trying to box in price. You wouldn't have found this until after the pullback to 1.5162 but see how price reversed at the 100 on the blue fib. What does tbis mean? Not sure yet to honest lol.

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MD.
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  • #1,031
  • Jul 6, 2010 7:12am Jul 6, 2010 7:12am
Ahha, I need to move my Black fib methinks.....
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  • #1,032
  • Jul 6, 2010 7:20am Jul 6, 2010 7:20am
I'm just throwing this out there but I've tracked my black short fib back as below.

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MD.
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  • #1,033
  • Jul 6, 2010 8:21am Jul 6, 2010 8:21am
I had a look at EU, this is a 4h. Black fib is drawn on the 4h, red drawn on a 30min.

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I'm sure Thom will appear at some point and stamp all over my charts.

MD.
Keep smiling
  • #1,034
  • Edited 9:02am Jul 6, 2010 8:51am | Edited 9:02am
Quoting Misterdaz
Here's 3 charts on EY. I dropped to a 30 min to find enough s/r.

This first chart is where I believe the main fib for this swing should be, I've then drawn 2 others which are sprung from the 61's of the previous ones. You don't have to draw them from there, you can start from any s/r point and draw to where they logically should sit. The last fib looks good eh?

Attachment
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MD.
I posted some charts on EY last night, this is an update to my last chart on that post...

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MD.

Edit: This is starting to make more sense. My first fib on the EY post also completed to the pip. I just looked short off the completion with a smaller fib...thanks very much!
Keep smiling
  • #1,035
  • Jul 6, 2010 9:22am Jul 6, 2010 9:22am
EU. Blue fib is pierced. White fib is completed so now I'm anticipating a pullback. Will be watching PA for entry.


EDIT: Added H4 chart.
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  • #1,036
  • Jul 6, 2010 9:47am Jul 6, 2010 9:47am
I agree your 4h D. Haven't had time to study the other but things are looking up.

MD.
Keep smiling
  • #1,037
  • Jul 6, 2010 9:53am Jul 6, 2010 9:53am
MD seems to have a thing for the limey-dollar.
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  • #1,038
  • Jul 6, 2010 9:55am Jul 6, 2010 9:55am
Quoting Misterdaz
I agree your 4h D. Haven't had time to study the other but things are looking up.

MD.
The pullback didn't happen. Pushed right through the white 138. Hasn't given me a good place to get in. Wait-n-see mode.
  • #1,039
  • Edited 10:21am Jul 6, 2010 10:08am | Edited 10:21am
This is probably a better placement for the white fib but it doesn't jive with my fib stacking theory.


EDIT: Correction. The new 100 line placement is the old blue 61.8 so it does work with my theory. My apologies.
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  • #1,040
  • Jul 6, 2010 10:19am Jul 6, 2010 10:19am
Quoting bartstop
MD seems to have a thing for the limey-dollar.
Couldn't make my mind up on Cable today, confused myself with fibs in both directions. The red one completed, still one of them had to, lol.

Shorted EY of the 138 reject, that worked lovely.

Thom must be in a very big cup.

MD.
Keep smiling
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