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Simple & Consistent Fibbing Method

  • #1,701
  • Jul 7, 2010 12:40am Jul 7, 2010 12:40am
Quoting lkthomas
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.
Read the pdf, watch the video until you get it.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,702
  • Jul 7, 2010 2:29am Jul 7, 2010 2:29am
Quoting lkthomas
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.
I think you have to see the intraday, daily, weekly, and monthly fibs. All of those are your tools to look at the bigger picture.

PS.: Aswilled, please correct me if I'm wrong.
  • #1,703
  • Jul 8, 2010 2:15am Jul 8, 2010 2:15am
Are you asking about determining the trend?

This can be tough sometimes, totally obvious at others.

You can make it simple or complicated. Wayne Jackson simply says if its low on the left and high on the right - its an uptrend and viceversa!

I do a top down analysis that takes in weekly, daily, H4, H1, M15 charts. I scalp intraday, so Im focussed on the short term. I look at where PA is going, and use trendlines and other indicators to help establish what is going on and the probablity of price direction. You can use things like MA crossovers to decide which way things are going too.

Ive made some bad calls lately when things have been rangey and sideways so you need to pick that too and decide it may be better to stay out.

Does that help?
  • #1,704
  • Jul 8, 2010 3:36am Jul 8, 2010 3:36am
Hi

Can somebody please help me and see if I have set the Fib breach correctly on the GBP/USD at 8 July 2010

thanks
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  • #1,705
  • Edited 5:54am Jul 8, 2010 5:50am | Edited 5:54am
Here is my entry and my exit. Even though I had a different Breach Fib than what was on the chat.
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  • #1,706
  • Jul 8, 2010 10:24am Jul 8, 2010 10:24am
Quoting whaka
Here is my entry and my exit. Even though I had a different Breach Fib than what was on the chat.
Yes you set it correctly, you just aint moving it down as price moves down. You have to use that fib to lock price into a box. So you will always know the direction of the trend.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,707
  • Jul 8, 2010 10:47am Jul 8, 2010 10:47am
Look for price reverse around 13 to 10. it is the 19.1 support of the swing and daily fibs.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,708
  • Jul 8, 2010 10:51am Jul 8, 2010 10:51am
Quoting aswilled
Look for price reverse around 13 to 10. it is the 19.1 support of the swing and daily fibs.
If it breaks, its going to our intraday bear targets @5085 - 5060.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,709
  • Jul 8, 2010 11:17am Jul 8, 2010 11:17am
Quoting aswilled
If it breaks, its going to our intraday bear targets @5085 - 5060.
My prediction held with the hammer close at 5109. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,710
  • Jul 8, 2010 11:19am Jul 8, 2010 11:19am
Quoting aswilled
My prediction held with the hammer close at 5109. :nerd:
But this doesn't mean the bears aren't going for the bear targets...
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,711
  • Jul 8, 2010 5:56pm Jul 8, 2010 5:56pm
Quoting aswilled
Yes you set it correctly, you just aint moving it down as price moves down. You have to use that fib to lock price into a box. So you will always know the direction of the trend.
Thanks for the feedback aswilled.

This method is great. I have never traded before and have read and studied so much that I was getting confused. This method has simplified it alot.

All I need to do now is practice and practice with method and hopefully the results will come.
  • #1,712
  • Jul 8, 2010 9:57pm Jul 8, 2010 9:57pm
Hi All...

Hope everybody is green .......
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  • #1,713
  • Jul 10, 2010 11:35pm Jul 10, 2010 11:35pm
Quoting whaka
Hi

Can somebody please help me and see if I have set the Fib breach correctly on the GBP/USD at 8 July 2010

thanks
good trade whaka! what MA is on your chart?

cheers
  • #1,714
  • Jul 11, 2010 3:14pm Jul 11, 2010 3:14pm
I am going to be busy writing a book that will take a newbie and turned them into a successful trader in 90 days or less. I will let you know where you can go get a copy when its done. But what I would like for you to do is tell me how sfm has helped you in your trading. I want to use your testimonies in this book so you can encourage the newbie to use this method that you know works. I figure by doing this book, I can help more people than this site will allow. So please freely help me, as I've helped you, by providing me some good testimonies about this method and my ability to teach one to trade.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,715
  • Jul 11, 2010 3:22pm Jul 11, 2010 3:22pm
Quoting aswilled
I am going to be busy writing a book that will take a newbie and turned them into a successful trader in 90 days or less. I will let you know where you can go get a copy when its done. But what I would like for you to do is tell me how sfm has helped you in your trading. I want to use your testimonies in this book so you can encourage the newbie to use this method that you know works. I figure by doing this book, I can help more people than this site will allow. So please freely help me, as I've helped you, by providing me some good testimonies...
Hi Aswilled,

Please contact me regarding this post.

Thanks!
Hero Traders Live to see their Accounts Die!
  • #1,716
  • Jul 12, 2010 1:07am Jul 12, 2010 1:07am
Simone, I hope you will team up with or allow Aswilled to write his book! :-)
  • #1,717
  • Jul 12, 2010 2:44am Jul 12, 2010 2:44am
Hi guys and ladies,

I am new and followed most of the threads. Hopefully I learn fast and start being successful.

Cutting the chase, I am short @ 1.4973 target 1.4917 Intraday T1.

Please correct me if I am mistaken.

Greetings
  • #1,718
  • Jul 12, 2010 5:53am Jul 12, 2010 5:53am
Hey Jazznos,

I welcome anyone who wants to add to this method, improve on it etc for FREE, NON-COMMERCIAL, NON-MONEY MAKING purposes!
Hero Traders Live to see their Accounts Die!
  • #1,719
  • Jul 12, 2010 6:16am Jul 12, 2010 6:16am
what's GU doing right now? I can't work it out. Didn't break 61% intraday, but it's coming off the 80% previous month. And it's hit the previous day's targets.

What to do?
  • #1,720
  • Jul 12, 2010 6:40am Jul 12, 2010 6:40am
Quoting robster
what's GU doing right now? I can't work it out. Didn't break 61% intraday, but it's coming off the 80% previous month. And it's hit the previous day's targets.

What to do?
Hi robster, GU hit its daily bear targets so position is long at least to intraday bull targets. Also there was a long entry off the intraday long level.Additionally, once we begin trading back above the monthly resistance, we have to think long.
Hero Traders Live to see their Accounts Die!
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