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Fibonacci Paradise

  • #1,421
  • Jul 22, 2010 3:34am Jul 22, 2010 3:34am
Quoting Hush
I am ready to ask for help.
Help...
  • #1,422
  • Jul 22, 2010 3:58am Jul 22, 2010 3:58am
Hope you guys havent forgot about the Aud/Usd it seems to be on the move upward. Looks like it my be the 61.8-50 setup!
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  • #1,423
  • Jul 22, 2010 6:29am Jul 22, 2010 6:29am
Quoting Hush
Help...
What are you having trouble with?
  • #1,424
  • Jul 22, 2010 9:55am Jul 22, 2010 9:55am
Quoting Checkz
Hope you guys havent forgot about the Aud/Usd it seems to be on the move upward. Looks like it my be the 61.8-50 setup!
that was a move I could't resist.
  • #1,425
  • Jul 22, 2010 10:13am Jul 22, 2010 10:13am
Quoting Misterdaz
This is quite interesting and something I traded off the other day. I have pulled 2 more fibs looking short on the current hourly downswing. They are set where I believe they should sit in relation to their starting point. Both 138's line up. If I am right with this then a buy order at around 1.5080 with a very tight stop would be worth a shot. I'll be interested to see how price pans out if it gets there.

Attachment

MD.
I see that short GBP too and i can;t help but feel I missed something..closing out short mate, but so it goes.. I suppose it doesnt help I am in a move in GBP/JPY to 137 atm.

Oft times it feels wrong so i just have to stay out even when the fib proves my feelings wrong.

If anyone can recall back to that GBP/JPY with the wonky candle off of that swift down move from the peak... EU just had one.. that if you didnt catch it.. at BEST you were in a massive retrace(relative EU)... worst... failed fib.

So again.. toolbox time you see a swift move out of the gate.. look at it either in the previous swing..up or see if something makes sense in the down slope.

short greenback.

TK
EDIT that pic doesnt appear to line up but it does with some tweaking. an art not a science chaps.
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  • #1,426
  • Jul 22, 2010 10:17am Jul 22, 2010 10:17am
You got me looking at Aud now. I was just fiddling with this slightly larger view. Not pierced but setting up nicely.

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MD.
Keep smiling
  • #1,427
  • Jul 22, 2010 10:32am Jul 22, 2010 10:32am
Quoting ThomKnight
I see that short GBP too and i can;t help but feel I missed something..closing out short mate
Hi Thom. Are you saying cable shorts could be finished and we may have missed completed fib? It's happened before, GY the other day. Didn't spot the s/r hidden away up top, shoes dished out...lol.

I cannot find a completed setup to the current cable lows though.

MD.
Keep smiling
  • #1,428
  • Jul 22, 2010 10:48am Jul 22, 2010 10:48am
This is how I see it, just as an example .. same on all time frames.

Fib respect, == target of 138
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  • #1,429
  • Jul 22, 2010 10:55am Jul 22, 2010 10:55am
Quoting Misterdaz
You got me looking at Aud now. I was just fiddling with this slightly larger view. Not pierced but setting up nicely.

Attachment

MD.
your range is daft on that mate.. try shortening it up and you may have more nimble, less white knuckle trades.
  • #1,430
  • Jul 22, 2010 10:57am Jul 22, 2010 10:57am
Quoting Misterdaz
Hi Thom. Are you saying cable shorts could be finished and we may have missed completed fib? It's happened before, GY the other day. Didn't spot the s/r hidden away up top, shoes dished out...lol.

I cannot find a completed setup to the current cable lows though.

MD.
me neither! I have had a lot of sets where I would bet my dog it was wrong.. because it felt wrong and ... well it twasn't i was.

The way to arbitrage the risk on that massive range relative to most trading accounts... is find a smaller fib pointed short and just take that.
  • #1,431
  • Jul 22, 2010 10:59am Jul 22, 2010 10:59am
Quoting ThomKnight
your range is daft on that mate.. try shortening it up and you may have more nimble, less white knuckle trades.
I wouldn't trade that, too large a range for my account if I was considering live. It was more to show what I am seeing.

Aimless posts r us.
Keep smiling
  • #1,432
  • Jul 22, 2010 11:00am Jul 22, 2010 11:00am
Quoting Eggster
This is how I see it, just as an example .. same on all time frames.

Fib respect, == target of 138
hm. I stick to a few set ways of fibbing as to not go completely free form.
  • #1,433
  • Jul 22, 2010 11:11am Jul 22, 2010 11:11am
Quoting Misterdaz
I wouldn't trade that, too large a range for my account if I was considering live. It was more to show what I am seeing.

Aimless posts r us.
Ha! Love it mate. trading or just gandering?
  • #1,434
  • Jul 22, 2010 11:15am Jul 22, 2010 11:15am
Not sure if this answers your question. Try pulling a fib. from the base of the 1pm (gmt) candle on the 15/7/2010 to the same day high using the 1 hour timeframe.Wicks do not count ie i only use the body of the candle. The 161.8 has been hit on the short side.
  • #1,435
  • Edited 11:46am Jul 22, 2010 11:26am | Edited 11:46am
Hi Thom

I don't see it as free form, I see it as an art of being aware where the bounces are, then judging the strength of respect to decide to: TP.. reverse or stay in.

Confluent targets on multiple TF's would be a reason to do something.

A reverse target in conjunction with a s/r of a larger TF , could be a good spot to do something.

A target in the middle of nowhere... something will happen??

Price goes up, price goes down, skunny told us that, I like to have an idea at what price something is going to happen.
  • #1,436
  • Jul 22, 2010 11:36am Jul 22, 2010 11:36am
It seems everyone has their method.

Personally I'm going the "white knuckle" route for now. I have no fear. I have no fear. I have no fear. (My $14 account helps).
  • #1,437
  • Jul 22, 2010 11:41am Jul 22, 2010 11:41am
something to look at when deciding when and where to get long on GU... this boxes in price at the moment.. showing the pushes off of fib SR.

TK
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  • #1,438
  • Jul 22, 2010 11:41am Jul 22, 2010 11:41am
Quoting Eggster
Hi Thom

I don't see it as free form, I see it as an art of being aware where the bounces are, then judging the strength of respect to decide to: TP.. reverse or stay in.

Confluent targets on multiple TF's would be a reason to TP.

A reverse target in conjunction with a s/r of a larger TF , could be a good spot to re-enter.

A target in the middle of nowhere... maybe continuing??
Interesting.
  • #1,439
  • Jul 22, 2010 11:48am Jul 22, 2010 11:48am
Quoting bartstop
It seems everyone has their method.

Personally I'm going the "white knuckle" route for now. I have no fear. I have no fear. I have no fear. (My $14 account helps).
with MM there should be no fear.. and MM is a great stop gap until you know what you are doing..in which case knowledge means no fear... in fact most traders never really know what they are doing(or how the market works) but manage to make very successful careers with the use of MM http://cdn.forexfactory.com/images/icons/icon10.gif
  • #1,440
  • Jul 22, 2010 12:12pm Jul 22, 2010 12:12pm
My veiw on the Aud/Usd. 60 min target hit. Looking for the Daily target to get hit which is the blue Fib.
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