Once again, Trend Identifier Sentiment (TIS) has been reached. Please don't ask where my stoploss is as I do not use stoploss, but a hedging method which I find inappropriate to discuss here.
quick info:
do we syill need need to draw the additional fibonacci as on page 1 even with the calculator? If yes, do we need to draw them every day from new ?
thanks
If the lines are still relevant to the price, then, no, I wouldn't redraw them, but the price has often moved outside the boundaries of the temporary lines, meaning they have to be redrawn. I had two charts with different white lines on them form last week, so we are currently below 0% on one and just above 61.8% on the other.
The blue, white and red additional fibs are used to work out the current phase reversal and high reversal mostly. Once you have worked them they are always in the same position for each phase, you only need to recalculate them if the size of the phase changes.
I do not use lines for these levels because they are always in the same place and I know where they are.
what i do not understand is:
In the calculater i read with todays data:
"Daily power sentiment 1.3552 If daily power sentiment is broken then price will tend to reach 1.3687"
But what means "Broken"?? broken from above to down and the rebounce up to 1.3687
Or it has first to go to 1.3552 (as the "trend indentifier sentiment forecasting is 1.3542) and then up to 1.3687?
however if so, why price not broken down to the 23.6% and the lower to the 100% ? Because once it has broken
38.2% (1.3542 is lower than the 38.2%) it should then go to 100%
Can please somone explain?
thanks
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Joined Aug 2010
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Status: Left brain thinking
|222 Posts
We have news from bobi,
Quote
Disliked
"More Bearishness is expected to EUR/USD. Its expected to reach 1.3542 for today and 1.3516. Break of 1.3490 will make it more bearish and if it happens after in UK session , will cause it to go more downside.In the opposite side 1.3638 is a golden key that make EUR to become bullish .Good opportunity to sell again."
bobi: New Version of Abonacci Calculator will be uploaded today in US Session. Many new features are added to help you identify the trend easier ."
what i do not understand is:
In the calculater i read with todays data:
"Daily power sentiment 1.3552 If daily power sentiment is broken then price will tend to reach 1.3687"
But what means "Broken"?? broken from above to down and the rebounce up to 1.3687
Or it has first to go to 1.3552 (as the "trend indentifier sentiment forecasting is 1.3542) and then up to 1.3687?
however if so, why price not broken down to the 23.6% and the lower to the 100% ? Because once it has broken
38.2% (1.3542 is lower than the 38.2%) it should then go to...
Ignored
Ok, broken for daily power sentiment is broken upwards.
1. trend identifier sentiment, 9/10 times it is hit and i wont trade anything else until it is.
2. If daily pivot with mixed monthly phase or other important resistances/reversals is between daily power sentiment and its target then you either dont trade it or if you do you are fairly confident it has momentum to get there
3. The pullback divert level is almost as reliable as the trend identifier sentiment. If it hits it, it will 9/10 times go to the pullback signal. Sometimes it is too close to trade..
Get september, october and november calculators and put horizontal lines on a graph for all the daily ranged based interpretation levels for each day, its a days work but if you do it you will understand better how these levels work.
Guys, IMO we are in a very good point for selling. The trend Identifier is lower and the difference between temporally direction (1.3523) and close of the previous day (1.3585) is very big 62 pips. Another reason is that we need to end the -3 phase from template 3.
outch!
my sell trade hit SL at 1.3650 or, in other words just at the 50%
What you guys use for SL??
I entered the trade at 1.3572 just 20 below the 23.6% that should be a valid entry I though it would go then to 1.3542
I use old dog's sentiment calcs aswell so I had buy from NY close to 1.3615 as I saw bullish divergence and RSI oversold at close. Then sell order from there which is still open. stop loss you would of wanted about 15 pips above phase reversal or high reversal if thats not tight enough
, is this going to be attached to post one or do we need to download from website?