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Old Dog Fib Trading - EURUSD

  • #101
  • Oct 4, 2010 7:04am Oct 4, 2010 7:04am
A special thanks to both Squalou and Guru who have both been working hard to translate these trading ideas into a tool to help to trade this approach. Well done guys!

I expect that we'll get to a stage where our work here will be done, and the thread can be closed to further posts.

Cheers
CanuckCT
  • #102
  • Oct 4, 2010 7:45am Oct 4, 2010 7:45am
Quoting squalou

Not yet added CanuckCT fibs, that will be for next version.

SQ
Hi squalou,

When price breaks to the downside, a fib extension is a most obvious way to identify a potential target. (same for upside break). When/if you get to this aspect, can you allow for a customizeable fib extension as per the pic below. So the fib tio the upside and downside would have a fib extension as a target for a greater move down from the NY close, per the pic below.

There are two logical anchors for this...the NY close and the Old Dog pivot. So a provision for both would allow for full and complete analysis.

Sorry about my presumption that you will do this...I sometimes get carried away.

Attached Image


Cheers
CanuckCT
  • #103
  • Oct 4, 2010 7:51am Oct 4, 2010 7:51am
Here it is anchored to old dog pivot.

Attached Image
  • #104
  • Oct 4, 2010 8:49am Oct 4, 2010 8:49am
Drawing fibs manually (with the default fib tool inside MT4) takes seconds, so it is not very important to have special indicators for that.
What I have done is that I firstly drew a line at 1.3673 (the "October base line" agreed by majority of people here) and then a line at 100 pips from the base (as much as I understood, 100 is the agreed gap for October). And then drew fibs between the lines.
So, my first trade today was taken at the short break of 38.2/61.8. It hit TP at 53 pips. And now I am in long break of 38.2/61.8. Let us see if this will be a winner, too.
Entry is 7 pips under/above 38.2/61.8 (7 + spread for long trades), SL = 40.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 041010.gif Size: 34 KB
  • #105
  • Oct 4, 2010 9:28am Oct 4, 2010 9:28am
Quoting Indrek
Drawing fibs manually (with the default fib tool inside MT4) takes seconds, so it is not very important to have special indicators for that.
Hi, Indrek, how do you draw fibs with sign - (minus) ?

Thanks.
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  • #106
  • Oct 4, 2010 9:46am Oct 4, 2010 9:46am
Quoting SkyzerFX
Hi, Indrek, how do you draw fibs with sign - (minus) ?

Thanks.
You have to manually add the levels with their labels in the fib properties.



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #107
  • Oct 4, 2010 10:23am Oct 4, 2010 10:23am
Quoting fxtsun
You have to manually add the levels with their labels in the fib properties.



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur

OK, thanks..
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  • #108
  • Edited 11:26am Oct 4, 2010 10:37am | Edited 11:26am
Quoting CanuckCT
Hi squalou,

When price breaks to the downside, a fib extension is a most obvious way to identify a potential target. (same for upside break). When/if you get to this aspect, can you allow for a customizeable fib extension as per the pic below. So the fib tio the upside and downside would have a fib extension as a target for a greater move down from the NY close, per the pic below.

There are two logical anchors for this...the NY close and the Old Dog pivot. So a provision for both would allow for full and complete analysis.

Sorry about my presumption...
CanuckCT,

Where would you initiate the trade?

38.2/61.8, 0/100

Also, would you account for the recent trend which is up by putting a buy at the 138.2 or 161.8?

BD
  • #109
  • Oct 4, 2010 10:40am Oct 4, 2010 10:40am
Quoting Old_Dog
Guys

See what I mean? Engulfing bullish bar off the X line and up we go.

This is not rocket science. Just markets doing what markes have to do...

Regards

Old Dog
Hi Old Dog
Thanks for posting this chart. As i was going through all of your attachment i was about to bring this chart into this thread but before me you did it thanks.. the X / O level what my understanding is its the phase calculation you have given us .. using atr(44) which is two month right? but this phase value stays same for the month if i'm correct but you mentioned you do get levels for weekly would you mind telling us how u do it weekly basis?

Do you get weekly levels from two previous week trading range ?

Thanks
Hoichoi
  • #110
  • Oct 4, 2010 10:46am Oct 4, 2010 10:46am
Quoting hoichoi
the X / O level what my understanding is its the phase calculation you have given us .. using atr(44) which is two month right?
The X/O levels are previous support/resistance, not calcs - i posted the same question earlier.
  • #111
  • Oct 4, 2010 11:50am Oct 4, 2010 11:50am
Quoting BarneyDog
CanuckCT,

Where would you initiate the trade?

38.2/61.8, 0/100

Also, would you account for the recent trend which is up by putting a buy at the 138.2 or 161.8?

BD
All possibilities...I don't have an opinion on it just yet.

Cheers
CanuckCT
  • #112
  • Oct 4, 2010 12:02pm Oct 4, 2010 12:02pm
Quoting Indrek
now I am in long break of 38.2/61.8. Let us see if this will be a winner, too.
The second trade was lost but it was not a surprise because today's direction was short (50.0 level of current phase was under Friday's close).
  • #113
  • Oct 4, 2010 12:06pm Oct 4, 2010 12:06pm
Hello Sir

can you plz post your chart and your trades today thanks. So we can learn from what you did today

Much appreciated

Regards
  • #114
  • Oct 4, 2010 12:11pm Oct 4, 2010 12:11pm
Quoting CanuckCT
The indicator that Guru is working on uses a certain fib calculation to create a baseline and also uses this spreadsheet. The fib calculation is different than what this spreadsheet does, obviously, so we'll have two different approaches, so this is good.

However, both calculations are objectively determined.

Enjoy.

Cheers
CanuckCT
Please, where did the values of A6 and B6 of the worksheet?
  • #115
  • Oct 4, 2010 12:21pm Oct 4, 2010 12:21pm
It seems we are now being referred to as the "copycat" thread. For the record, the only reason this thread was started was to develop some tools in an orderly way and to create some distance from a thread that was annoyingly out of control and a moderator who abruptly left with no indication he would return. Since the moderator of that thread has now decided to return and has banned some of us from posting there, we have no choice but to continue our work here and there is now no point to linking the two initiatives now anyway.

Our work could have been done on the other thread as that was where it got started...but it's much more peaceful here.

Thanks to all who are paying attention and helping with the process, including those who are sending me PMs.

Cheers
CanuckCT
  • #116
  • Oct 4, 2010 1:18pm Oct 4, 2010 1:18pm
You not going to believe what I discover, don't want to disappoint you,

but I was drawing Fib Extentions/Fibs all day long, and was able to

figure out future movements based on previous events, but,

when I just drop simple Fib_Pivots Indicator, which was in my indicator

folder like 2 years already, I was amazed how close my calculations was

to the levels which simply drawn by Old mighty Indicator.. People trying

to complicate things, it's a nature of thinking: Like if it's more difficult,

this should work much better.. Check this out..

Images from TOP to the bottom

#1 Original Old_Dog 2 lines screenshot posted earlier

#2 Simple Empty chart 15M TF chart with Fib Indicator on the chart only.

Showing those lines are nothing magical but simply RESISTANCE #1

and SUPPORT #1 RED on the bottom

#3 you can basically apply areas to buy or sell SELL below pivot

to S1 then, SELL below S2 to S3 Area #2 and so on, same goes for

BUY above pivot, above S1, and above S2 and so on...

That's how easy it is.. YES, it's off just a bit plus minus few pips...

But Abonachi dude, create sh*t load of software to point out something,

which already exists many years ago like 1, 2, 3

Now, be my guest and take a look, sorry to simplify things.. Nothing

magical here:

P.S Sorry I just realize that those Fib lines are too dark, but you still can see them.. Will fix and post again
Attached Image(s) (click to enlarge)
Click to Enlarge Name: old_dog_mine_fib.jpg Size: 79 KB
Click to Enlarge Name: old_dog_mine_fib2.jpg Size: 88 KB
Attached Image
Attached File(s)
File Type: ex4 Fibonacci Pivots.ex4   5 KB | 544 downloads
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  • #117
  • Oct 4, 2010 1:25pm Oct 4, 2010 1:25pm
Quoting SkyzerFX
Now, be my guest and take a look, sorry to simplify things.. Nothing magical here:
My words exactly in Post #95. Nothing magical here!! The Fib lines calculated from the baseline and phase gap are nothing more than good old-fashioned S/R.

Couple that with some more good old-fashioned PA and you are home and dry.

Glad to see my message finally getting through!!

Regards

Old Dog
  • #118
  • Edited 1:44pm Oct 4, 2010 1:26pm | Edited 1:44pm
Old Dog: "My words exactly in Post #95. Nothing magical here!!"

You are the MAN!!! THANK YOU! Forget about Abonachi dudes, it's all there, been before

and still is.. Simply PIVOT/R1/R2/R3 and S1/S2/S3

====

Here

BOLD LIME and RED lines are levels posted by OLD_DOG earlier

and others as you see simple FIB daily levels...

Amazing (Lower image Levels compressed to see wider picture)

ADD some fibs plus few trend lines and you are in Business :
Attached Image(s) (click to enlarge)
Click to Enlarge Name: old_dog_mine_fib3.jpg Size: 72 KB
Click to Enlarge Name: old_dog_mine_fib4.jpg Size: 75 KB
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  • #119
  • Edited 1:57pm Oct 4, 2010 1:46pm | Edited 1:57pm
Quoting SkyzerFX
Old Dog: "My words exactly in Post #95. Nothing magical here!!"

You are the MAN!!! THANK YOU! Forget about Abonachi dudes, it's all there, been before

and still is.. Simply PIVOT/R1/R2/R3 and S1/S2/S3

====

Here

BOLD LIME and RED lines are levels posted by OLD_DOG earlier

and others as you see simple FIB daily levels...

Amazing (Lower image Levels compressed to see wider picture)

ADD some fibs and few trend lines and you are in Business :


Yup dude... Already discovered earlier on using "FiboPiv_v3".... Yeah... nothing magical.....

The key points here are 1) "breaking support or resistance levels" and 2) pullbacks or some retracement along the way...
  • #120
  • Oct 4, 2010 2:16pm Oct 4, 2010 2:16pm
[quote=SkyzerFX;4070715]Old Dog: "My words exactly in Post #95. Nothing magical here!!"

You are the MAN!!! THANK YOU! Forget about Abonachi dudes, it's all there, been before

and still is.. Simply PIVOT/R1/R2/R3 and S1/S2/S3

====

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