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Fibonacci Paradise

  • #1,141
  • Jul 9, 2010 5:50am Jul 9, 2010 5:50am
Quoting Eggster
i'm liking 134.29... maybe .19
Have you been playing with 1 min again. If so I can't quite follow those levels but my data could be wildly different to yours.

MD.
Keep smiling
  • #1,142
  • Edited 6:09am Jul 9, 2010 5:51am | Edited 6:09am
It was for Euro... #1046


As an example of how I follow price and targets
  • #1,143
  • Jul 9, 2010 5:56am Jul 9, 2010 5:56am
Quoting Eggster
It was for Euro... #1046
Sorry I was looking for it in relevance to GY.
Keep smiling
  • #1,144
  • Jul 9, 2010 6:27am Jul 9, 2010 6:27am
Something like this maybe????

Attached Image (click to enlarge)
Click to Enlarge Name: gy090710a.png Size: 17 KB


MD.
Keep smiling
  • #1,145
  • Jul 9, 2010 6:41am Jul 9, 2010 6:41am
Yes , look for respect..38..50..62 off the first swing (any time frame)

now do the same on the last swing, remember pivots


There is a lot to look for, but just like driving a car, it will become subconscious.
Keeping your conscious brain available to asses risk
  • #1,146
  • Jul 9, 2010 6:58am Jul 9, 2010 6:58am
Eggster, last swing I take it you mean the rally back up?
Keep smiling
  • #1,147
  • Jul 9, 2010 7:09am Jul 9, 2010 7:09am
I meant the rally before,

but ya do any rally you want, practice makes perfect
  • #1,148
  • Jul 9, 2010 7:23am Jul 9, 2010 7:23am
Quoting bartstop
It looks to me like we're going higher but until the white 138 breaks it's really risky.

It is when it breaks that risk is VERY high. I hope no one bought the
'break out'.

It has to hold, if not, cut and wait.... (or reverse hehe)
  • #1,149
  • Jul 9, 2010 7:24am Jul 9, 2010 7:24am
Sorry I feel like I'm trolling. So you work on the current swing that you are in?
Keep smiling
  • #1,150
  • Edited 9:27am Jul 9, 2010 7:44am | Edited 9:27am
I follow all open fibs, as I am looking for bounces.... for best risk reward entries.

Skunny said "This is 1% of what is"

Just the first step, with the pierce 138 we could possibly trade at a hundred %, always be in the market if we were perfect, as humans we are NOT.

Our emotions cloud our vision, large drawdowns will injure most peoples psyche, then freeze when it is time to hit the button.

As Thom says " in and out with quick" pips is the best way to go
  • #1,151
  • Jul 9, 2010 9:37am Jul 9, 2010 9:37am
Quoting Eggster
Just the first step, with the pierce 138 we could possibly trade at a hundred %, always be in the market if we were perfect, as humans we are NOT.
Well I certainly did the quick in an out with my last 2 trades. The smaller fibs are best as you either win quick or you don't suffer long. Maybe the 100 pip ranges are best avoided, like yesterday.

I've always wondered what the above quote meant. Does it mean if we keep piercing the 138 we stay in and hold that position? That was more of a rhetorical question to be fair, you don't have to answer that.

I've got a little bit of time, I'll have a fib around.

MD.
Keep smiling
  • #1,152
  • Jul 9, 2010 10:22am Jul 9, 2010 10:22am
Try and find the possibility of bounce off the 134.62 this morning. (I have 3 fibs)

Normally we get rejection from 138 and 100, what happens if they line up?

This should spin your head for a while.

Remember I said "We are trading into a lot of congestion, so be careful"
  • #1,153
  • Jul 9, 2010 10:48am Jul 9, 2010 10:48am
Quoting Eggster
Try and find the possibility of bounce off the 134.62 this morning. (I have 3 fibs)

Normally we get rejection from 138 and 100, what happens if they line up?

This should spin your head for a while.

Remember I said "We are trading into a lot of congestion, so be careful"
Like in my earlier post 1136. I think 2 of my fibs fall on the 138 on that. I drew more that lined up but was too messy to post.

MD.
Keep smiling
  • #1,154
  • Jul 9, 2010 10:56am Jul 9, 2010 10:56am
Here's 3 just on a 30min.

Attached Image (click to enlarge)
Click to Enlarge Name: gy090710b.png Size: 20 KB


MD.
Keep smiling
  • #1,155
  • Jul 9, 2010 10:59am Jul 9, 2010 10:59am
Yowza! things are looking good and short term gy shorts are on eh mates? but then again who is fool enough to trade fridays haha. when heading for that 137 target.. i might look to get into it once it crosses back through 134.7-135 for momentum..or just track for a turn!

Hope all is well gents! See you next week perhaps! I will try to pop by.

Tk
  • #1,156
  • Jul 9, 2010 11:03am Jul 9, 2010 11:03am
Quoting Misterdaz
Here's 3 just on a 30min.

Attachment

MD.
why do you have so many fibs?? there are literally infinte fibs at any one time..every visible( on any time frame) candle open and close is a 138.2 hit... the trick is cutting it down to the mimimum to make things easy.. i can get away with one and at max two. If you can trade 3-4-5 fibs more power to you... but more generally doesnt make it more easy... once I have a target i will either strap one one more fib if price loses the original or wait to see if it finds it.. or just say damn the torpedos and bombs away. Whatever works for you.

TK
  • #1,157
  • Jul 9, 2010 11:21am Jul 9, 2010 11:21am
Quoting ThomKnight
why do you have so many fibs?? there are literally infinte fibs at any one time..every visible( on any time frame) candle open and close is a 138.2 hit... the trick is cutting it down to the mimimum to make things easy.. i can get away with one and at max two. If you can trade 3-4-5 fibs more power to you... but more generally doesnt make it more easy... once I have a target i will either strap one one more fib if price loses the original or wait to see if it finds it.. or just say damn the torpedos and bombs away. Whatever works for you.

TK
Welome back Thom. You don't read previous posts do you, lol. I don't use loads of fibs, it's just an exercise I'm going thru with the Eggster.

Oh and I don't blame you for not wading thru all the posts. Have you been any where nice? On holiday again? I don't know, these successful traders and their luxury life styles.

Well I'm off home for the weekend, 32 degrees here, gotta make the most of it over here. Looking forward to the World cup final too.

Thom, your current fib's on GY would be useful to me if you get time. Purely to see if mine are lining up and I'm ticking the right boxes so to speak.

Bye for now, MD.
Keep smiling
  • #1,158
  • Jul 9, 2010 11:50am Jul 9, 2010 11:50am
Quoting Misterdaz
Welome back Thom. You don't read previous posts do you, lol. I don't use loads of fibs, it's just an exercise I'm going thru with the Eggster.

Oh and I don't blame you for not wading thru all the posts. Have you been any where nice? On holiday again? I don't know, these successful traders and their luxury life styles.

Well I'm off home for the weekend, 32 degrees here, gotta make the most of it over here. Looking forward to the World cup final too.

Thom, your current fib's on GY would be useful to me if you get time. Purely to see if mine...
Ah...yes... i am a prize ass and no i don't see what happened outside of now posting wise.. I am sure you are fine, mate the easiest starting point is that last 1hr gy that hit to the tick. and follow it down from there.

luxury...luxury is getting time to myself chuckle. From what i ahve seen in your charts so far mate... if you have to the patience... you have the basic tools to do it for youself so if it ticklers your fancy... you can go snatch up a mclaren from the plant. put 1000 quid into an account and use MM you will lose here and there... but you wl should be 9/1 8/2 once you figure out how to trade them the equity curve moves up faster since no more 3:1 rr calculations though. chuckle.

No porky pies it is not uncommon to double your account in a week.. and no you do not blow it the next week. It is about the trade setting up just so ,not about wild hare gambling. Oléeee, oléeee oléee oléeeeee... España, España!!

TK
  • #1,159
  • Jul 9, 2010 12:42pm Jul 9, 2010 12:42pm
No, I don't think so Thom.

I think I'll hold fire on the McLaren just now. I need get on Forextester and give myself some confidence.

Paul the Octopus says Spain will win (google it). He must be using fibs!

Enjoy your weekend.

MD.
Keep smiling
  • #1,160
  • Jul 9, 2010 1:44pm Jul 9, 2010 1:44pm
Tell me if I have this right. The chart is your entry. And this post is how you find your target. Right?

http://www.forexfactory.com/showpost...postcount=1046
Attached Image (click to enlarge)
Click to Enlarge Name: gy prz.gif Size: 28 KB
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