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Fibonacci Paradise

  • #1,541
  • Edited 2:49am Jul 29, 2010 2:29am | Edited 2:49am
I'm expecting a pretty good reaction at the 1.5722 area. It looks like a freaking rainbow up there.

EDIT: I better say it before someone (MD) busts my balls. The previous cycle on the white fib hasn't broken it's 138 yet.

EDIT II: I have a feeling USDCHF will dance around until this GU cycle completes. Then it's game on for longs. Just my 2 cents.

EDIT III: These EDIT's are getting ridiculous.
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  • #1,542
  • Jul 29, 2010 3:04am Jul 29, 2010 3:04am
BarTstop, this is how I have tracked short on USD CHF.

First position. Complete.

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Second position. Complete.

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Third position. Pierced and incomplete.

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If I am doing this wrong, could someone please correct me.

Thanks MD.
Keep smiling
  • #1,543
  • Jul 29, 2010 3:34am Jul 29, 2010 3:34am
Sometimes I will get out before the high is hit then re-enter the trade
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  • #1,544
  • Jul 29, 2010 3:58am Jul 29, 2010 3:58am
Quoting ThomKnight
G'day

anyone see anything choice on UCHF 4hr...

EDIT:... i would call this play a " You are daft If you don't trade me"
Thom Knight,

This presents an option that I am considering. I may be daft. But I am risking very little here with a rather smart payoff potential. Seems we see it differently. Eh wot?

Bud Fox
Attached Image (click to enlarge)
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Jeremiah WAS a bullfrog.
  • #1,545
  • Jul 29, 2010 4:49am Jul 29, 2010 4:49am
i'm Long again on the one hr chart
i know you guys are proably tired of me posting charts
  • #1,546
  • Edited 6:27am Jul 29, 2010 5:11am | Edited 6:27am
Hi

No one will let me touch the axe,

"If I am doing this wrong, could someone please correct me." Thanks MD.
As Thom said " There are always many things going on and no "one" right version. It is about what you can see an understand in the context of this fib."

That being said, I agree with Bart, he 's from Uhh merica you know!

There are a few other spots I would have been watching (PA) between your 2nd and 3rd images.

Thom, a question from the daft one, (are you ready) got any shoes left?
Just messing with you, I know you don't mind drawdown.
  • #1,547
  • Jul 29, 2010 5:38am Jul 29, 2010 5:38am
Quoting Checkz
i'm Long again on the one hr chart
i know you guys are proably tired of me posting charts
I'm enjoying your charts Checkz, post away mate.

MD.
Keep smiling
  • #1,548
  • Jul 29, 2010 5:40am Jul 29, 2010 5:40am
Quoting 3 Dog Night
Thom Knight,

This presents an option that I am considering. I may be daft. But I am risking very little here with a rather smart payoff potential. Seems we see it differently. Eh wot?

Bud Fox
Indeed!

I am more daft than a Man Utd. supporter cheering against Ryan Giggs!

Pints are on me mates!

(might not be fully played out yet??)
Attached Image (click to enlarge)
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Jeremiah WAS a bullfrog.
  • #1,549
  • Jul 29, 2010 5:59am Jul 29, 2010 5:59am
Quoting 3 Dog Night
Indeed!

I am more daft than a Man Utd. supporter cheering against Ryan Giggs!

Pints are on me mates!

(might not be fully played out yet??)
Nice short Bud. I think that 1.0421 is bottom but I'll be looking for PA before I buy it.

K.I.S.S.
  • #1,550
  • Jul 29, 2010 6:07am Jul 29, 2010 6:07am
I think UCHF is short to here at least.

I don't trade it as it is very highly inversely correlated to EU, but the spread is higher.
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  • #1,551
  • Jul 29, 2010 7:14am Jul 29, 2010 7:14am
Quoting Eggster
Hi

No one will let me touch the axe,

"If I am doing this wrong, could someone please correct me." Thanks MD.
As Thom said " There are always many things going on and no "one" right version. It is about what you can see an understand in the context of this fib."

That being said, I agree with Bart, he 's from Uhh merica you know!

There are a few other spots I would have been watching (PA) between your 2nd and 3rd images.

Thom, a question from the daft one, (are you ready) got any shoes left?
Just messing with you, I know...
Thanks Egg. That's the sticking point for me. I have looked at s/r in the current swing, which I know Thom prefers to use and.. the backswing which you consider as well. In any event USDCHF blew all levels away but I need to decide which it is to be, back, front, both, read the book...

All the fun of the fare.

MD.

EDIT: Shit I said "I know"!
Keep smiling
  • #1,552
  • Jul 29, 2010 8:24am Jul 29, 2010 8:24am
Quoting KissFan
Nice short Bud. I think that 1.0421 is bottom but I'll be looking for PA before I buy it.

K.I.S.S.
Thanks Pal!

I'm out. My target range hit. As my old mentor, G.G. used to say, "Greed is good". Well; look where he ended up!

I'm done for the week. Time to play!

Cheers to all and to all a good night!

Bud
Attached Image (click to enlarge)
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Jeremiah WAS a bullfrog.
  • #1,553
  • Jul 29, 2010 8:37am Jul 29, 2010 8:37am
Quoting ThomKnight
I might look at it like this... this is also a swing fib and the 50% is boxed in nicely.

TK
Good morning TK and all. I have a question on the USDCHF chart we pulled yesterday. If the price breaches 1.0393 now do we pull a new fib or do we look for shorts to 1.0306?

K.I.S.S.

EDIT: I rely heavily on PA set ups within my fibs as I am a better PA trader than fib trader at this time. I continue to work on my fib reading skills. The point here is that I wanted to enter at the break of the 4 hr pin noted with red arrow. The bar never broke and I have witnessed a price movement that I could not have predicted otherwise. My acct is safe but I am more determined than ever to aquire all skills needed to trade fibs with high probability. Thanks again for all of your posts.
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  • #1,554
  • Jul 29, 2010 9:01am Jul 29, 2010 9:01am
Well the big test is coming up of Thom's fib. 1.0394 is the line in the sand Kissfan. If this is a good fib an entry long down here with a relatively tight stop would be a good play. I don't fancy it personally but I am watching avidly.

Have you seen the Kiss Family Guy episode?

MD.
Keep smiling
  • #1,555
  • Jul 29, 2010 9:06am Jul 29, 2010 9:06am
Quoting KissFan
Good morning TK and all. I have a question on the USDCHF chart we pulled yesterday. If the price breaches 1.0393 now do we pull a new fib or do we look for shorts to 1.0306?

K.I.S.S.

EDIT: I rely heavily on PA set ups within my fibs as I am a better PA trader than fib trader at this time. I continue to work on my fib reading skills. The point here is that I wanted to enter at the break of the 4 hr pin noted with red arrow. The bar never broke and I have witnessed a price movement that I could not have predicted otherwise. My acct...
I think I have found the answer. I have a book put together now on ThomKnight and Skunny. Hopefully this will smooth my learning curve some.

Post #4317 Skunny Thread December 6, 2009 TK---- "Another hint lies in basic fib theory.. specifically revolving around the 61.8. If price retraces past the 61.8 your direction/trend is not intact. At least not on that fib"


K.I.S.S.
  • #1,556
  • Jul 29, 2010 9:11am Jul 29, 2010 9:11am
Quoting Misterdaz
Well the big test is coming up of Thom's fib. 1.0394 is the line in the sand Kissfan. If this is a good fib an entry long down here with a relatively tight stop would be a good play. I don't fancy it personally but I am watching avidly.

Have you seen the Kiss Family Guy episode?

MD.

Now is the time to buy with good MM. Even if you get stopped, you wouldn't have much to lose at this level. The The only reason why I say that is Euro is at TP on a move up and has bounced with major divergence. I think it would be a safe trade personally.

KISS episode huh? I have not yet seen that one. Just became a Family Guy viewer a couple of months ago. I'll look for it. That show is freekin crazy bro!

K.I.S.S.
  • #1,557
  • Jul 29, 2010 9:33am Jul 29, 2010 9:33am
Quoting KissFan
I think I have found the answer. I have a book put together now on ThomKnight and Skunny. Hopefully this will smooth my learning curve some.

Post #4317 Skunny Thread December 6, 2009 TK---- "Another hint lies in basic fib theory.. specifically revolving around the 61.8. If price retraces past the 61.8 your direction/trend is not intact. At least not on that fib"


K.I.S.S.
If price has not pierced the zero then yes.

I'll sort you out the Kiss episode and give you a link.

MD.
Keep smiling
  • #1,558
  • Jul 29, 2010 10:02am Jul 29, 2010 10:02am
Quoting Misterdaz
If price has not pierced the zero then yes.

I'll sort you out the Kiss episode and give you a link.

MD.
The zero got breached. Now does this fib make any sense?

K.I.S.S.
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  • #1,559
  • Jul 29, 2010 10:44am Jul 29, 2010 10:44am
hi all,

I have been watching this interesting chart,
looks like ready to go
Attached Image (click to enlarge)
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FunPip
  • #1,560
  • Jul 29, 2010 10:45am Jul 29, 2010 10:45am
Quoting KissFan
The zero got breached. Now does this fib make any sense?

K.I.S.S.
From what I know about tracking, yes. I just tracked that fib from that pull point and I landed there. I noticed alsorts of things going on, on the way there. At one point I saw a complete 138 that turned around and you could have fibbed the other way and then back down again from anther fib starting point. As Thom has said before and Eggster pointed out earlier it's about what you can see in the context of the fib. That's the hard bit, there are often many fibs you just have to make sure you are in the right one.

Easy eh....lol.

MD.
Keep smiling
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