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Simple & Consistent Fibbing Method

  • #1,741
  • Jul 12, 2010 9:15am Jul 12, 2010 9:15am
Quoting simoneg
Hey iqyusan, I realize that, I felt like an octopus last week, had so many irons in the fire. I wonder why silent though since I am not much of a talker.
silent is gold .....
  • #1,742
  • Jul 12, 2010 9:19am Jul 12, 2010 9:19am
Quoting Yoenes
Hello simoneg

I m new here so this is...
Hi Yoenes,

Welcome to the SFM thread! Good to know that you have started out reading and plan to read again and again.

The GU may very well go up to 1.5077 or a little above, if there is deep enough retracement before we get there, we could see much higher highs. Would be great if you could post your chart so I can see your breach fib as I am not able to login to my platform at the moment.
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  • #1,743
  • Jul 12, 2010 9:20am Jul 12, 2010 9:20am
Quoting iqyusan
silent is gold .....
I am agreeing with you right there iqyusan....gold indeed!
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  • #1,744
  • Jul 12, 2010 9:32am Jul 12, 2010 9:32am
Quoting simoneg
Hi Yoenes,

Welcome to the SFM thread! Good to know that you have started out reading and plan to read again and again.

The GU may very well go up to 1.5077 or a little above, if there is deep enough retracement before we get there, we could see much higher highs. Would be great if you could post your chart so I can see your breach fib as I am not able to login to my platform at the moment.
I have draw my fib from fridays high to the low that i could found below the low that is created today.

is this just a retrace or a reversal?


I have attach the chart .

Thanks ,

Yoenes
Attached Image (click to enlarge)
Click to Enlarge Name: chart for simoneg with fibs.gif Size: 50 KB
  • #1,745
  • Jul 12, 2010 9:49am Jul 12, 2010 9:49am
Quoting Yoenes
I have draw my fib from fridays high to the low that i could found below the low that is created today.

is this just a retrace or a reversal?


I have attach the chart .

Thanks ,

Yoenes
I am not able to say whether we are reversing, though we could anticipate that based on where we bounced today. Price reaction to 1.5077 and monthly high will help tell. The view however is long, above the monthly resistance level. Please let me know how you are using your fib from Friday's high to that low that you have drawn to. Is it to find your breach level?
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  • #1,746
  • Jul 12, 2010 9:52am Jul 12, 2010 9:52am
Quoting simoneg
I am not able to say whether we are reversing, though we could anticipate that based on where we bounced today. Price reaction to 1.5077 and monthly high will help tell. The view however is long, above the monthly resistance level. Please let me know how you are using your fib from Friday's high to that low that you have drawn to. Is it to find your breach level?
Yes i have draw the fib that way to find the breach level.

Thanks,

Yoenes
  • #1,747
  • Jul 12, 2010 9:57am Jul 12, 2010 9:57am
Quoting Yoenes
Yes i have draw the fib that way to find the breach level.

Thanks,

Yoenes
Cool, ok...

 

  1. since those two lows are so close, I would recommend taking the lower low on that huge swing for a more precise level.
  2. Since the trend has seemingly changed, starting this morning, you will need to be drawing breach fibs from this morning's low, to the previous highs (going back into friday's high or above), looking for long entries, until there is a change in market direction.

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  • #1,748
  • Jul 12, 2010 10:00am Jul 12, 2010 10:00am
Quoting simoneg
Cool, ok...

 

  1. since those two lows are so close, I would recommend taking the lower low on that huge swing for a more precise level.
  2. Since the trend has seemingly changed, starting this morning, you will need to be drawing breach fibs from this morning's low, to the previous highs (going back into friday's high or above), looking for long entries, until there is a change in market direction.

way cool haha

so how i draw the breach fibs is ok?

but then when target 1 and 2 are reached how should i no that the direction is changed?

Thanks,

Yoenes
  • #1,749
  • Jul 12, 2010 10:04am Jul 12, 2010 10:04am
Quoting Yoenes
way cool haha

so how i draw the breach fibs is ok?

but then when target 1 and 2 are reached how should i no that the direction is changed?

Thanks,

Yoenes
Hahaha, you can use candlestick patterns/support & resistance levels to confirm that(change in direction). Usually there is a pullback at least to the 80.9 intraday. If we begin closing below the 80.9 that is our first warning sign of continued dowward movement. Ooops, yes your fibs are correctly drawn.
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  • #1,750
  • Jul 12, 2010 10:12am Jul 12, 2010 10:12am
Quoting simoneg
Hahaha, you can use candlestick patterns/support & resistance levels to confirm that(change in direction). Usually there is a pullback at least to the 80.9 intraday. If we begin closing below the 80.9 that is our first warning sign of continued dowward movement. Ooops, yes your fibs are correctly drawn.
Oke simoneg thank you i thing its time to watch the videos and read the pdf again no more qustions before i have read and watch it again.

thank you very much.

Yoenes
  • #1,751
  • Jul 12, 2010 10:16am Jul 12, 2010 10:16am
Quoting Yoenes
Oke simoneg thank you i thing its time to watch the videos and read the pdf again no more qustions before i have read and watch it again.

thank you very much.

Yoenes
Great! No prob Yoenes!
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  • #1,752
  • Jul 12, 2010 1:15pm Jul 12, 2010 1:15pm
Hello simoneg! How do we know where the market is going tomorrow? How can I see that for myself?

Thank you already very much!
  • #1,753
  • Jul 12, 2010 1:21pm Jul 12, 2010 1:21pm
Quoting lljazz
Hello simoneg! How do we know where the market is going tomorrow? How can I see that for myself?

Thank you already very much!
Hi lljazz, we dont really know. Remember that we are looking at probabilities in trading. Nevertheless, I will post an analysis this evening as I am now at work and unable to see the charts.

Cheers,
Simone
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  • #1,754
  • Jul 12, 2010 1:44pm Jul 12, 2010 1:44pm
Yesterday's 80.9% resistance hold and rejected the price back.
From my point of view, I think the market is bearish and we should aim tomorrow for bear targets @ 1.4900 and 1.4891.

My 2 cents.
  • #1,755
  • Jul 12, 2010 1:48pm Jul 12, 2010 1:48pm
Quoting lljazz
Yesterday's 80.9% resistance hold and rejected the price back.
From my point of view, I think the market is bearish and we should aim tomorrow for bear targets @ 1.4900 and 1.4891.

My 2 cents.
Okay, as long as you have supporting analysis that is fine. Also you want to pay attention to the higher low from today and the fact that a counter up trendline was broken, to facilitating buying (to 1.5170 or 1.5300). Always good to keep the possibilities before you and not marry a single analysis.
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  • #1,756
  • Jul 12, 2010 1:58pm Jul 12, 2010 1:58pm
The new high is 38 pips higher then yesterday's and the low is 101 pips lower.
Doesn't the bigger difference from the low overweight?

Could you post a picture of that up trendline you spoken of. I can't find one which has a significance.

Thank you simoneg.
Kiss
  • #1,757
  • Jul 12, 2010 2:01pm Jul 12, 2010 2:01pm
Quoting lljazz
The new high is 38 pips higher then yesterday's and the low is 101 pips lower.
Doesn't the bigger difference from the low overweight?

Could you post a picture of that up trendline you spoken of. I can't find one which has a significance.

Thank you simoneg.
Kiss
Sure thing, will do so later this evening.
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  • #1,758
  • Jul 12, 2010 7:34pm Jul 12, 2010 7:34pm
Quoting lljazz
The new high is 38 pips higher then yesterday's and the low is 101 pips lower.
Doesn't the bigger difference from the low overweight?

Could you post a picture of that up trendline you spoken of. I can't find one which has a significance.

Thank you simoneg.
Kiss
Hey lljazz, here is a rough picture of what I was talking about earlier on the GU. This is the bullish outlook to consider. Whilst short possibilities are there, we have to pay attention to the threat of reversal.

Cheers.
Simone
Attached Image (click to enlarge)
Click to Enlarge Name: att.jpg Size: 313 KB
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  • #1,759
  • Jul 12, 2010 10:22pm Jul 12, 2010 10:22pm
Gotcha. Although the trendline through B i also got. That trendline is holding now and is giving a short signal. But let's see what happens until Europe open.

Thanks for the picture!
  • #1,760
  • Jul 12, 2010 10:37pm Jul 12, 2010 10:37pm
Quoting lljazz
Gotcha. Although the trendline through B i also got. That trendline is holding now and is giving a short signal. But let's see what happens until Europe open.

Thanks for the picture!
hi bro....

Always compared to bigger TF and major trend also ....

Rgds
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