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  • #8,541
  • Apr 5, 2011 4:42am Apr 5, 2011 4:42am
Quoting speedarad
----
Sorry to get back so late to you.
No problem. Thanks for the post.
  • #8,542
  • Edited 12:31pm Apr 5, 2011 11:56am | Edited 12:31pm
i am very sorry to ask this question..i am relative new to fib but i hope someone can help me with it..

1)how do you constitutes a bounce or test of the fib line??

lets say price go past the long fib line and later close below it..this is a bounce or test of the long fib line am i right??

Only when price close above it then it's considered a break of the long fib line am right??

2)What about if price did not go past any fib line? As in it jus move up and down without even touching any fib line? i jus don care about this candle and that is not a bounce or test am i right?

3)one last question..EG..wait for candle to close below the 50% fib and wait for a retrace to this level and enter on the RETRACE..in this case what does retrace means?does it mean that the candle after the close candle(mention above) needs to move past the 50% fib line and come back or jus need to move above the close of the previous candle and come back before i enter on the price level of the close candle(mention above) ? WHY CANT I ENTER ON THE CLOSE OF THE CANDLE AND NEED TO WAIT FOR PRICE TO RETRACE BEFORE ENTERING??



Sorry but i am really confused and hope someone can help me with this explanation. If possible teach me through a chart..

Your help is greatly appreciated =)
  • #8,543
  • Edited 9:30pm Apr 5, 2011 9:29pm | Edited 9:30pm
Quoting speedarad
Every day is different. Look at the chart what happened a day before!
Mkt retraced to the friday's fibs levels and got rejected but soon after that the move died and actually start moving up again.Now you got a double top around 1.60300 area and now on Tuesday we start mooving down again.But we never saw a break of the previous low about 1.59419 area.Actually you got a double bottom because after that mkt start moving up again bringing to the point that you are right know(when you posted the chart I mean). This is sign for a possible strong retracement...
Hi Speed
In such cases, would you leave the fib at friday's?
  • #8,544
  • Apr 17, 2011 3:59pm Apr 17, 2011 3:59pm
Quoting iamabilliona
i am very sorry to ask this question..i am relative new to fib but i hope someone can help me with it..

1)how do you constitutes a bounce or test of the fib line??

lets say price go past the long fib line and later close below it..this is a bounce or test of the long fib line am i right??

Only when price close above it then it's considered a break of the long fib line am right??

2)What about if price did not go past any fib line? As in it jus move up and down without even touching any fib line? i jus don care about this candle and...


A bounce is when price travels into the inner fib levels (38,50,61) and then it resumes the initial treand. A test would be when price touches the closest fib level but the the candles closings are above the fib level in a uptrend or below in a downtrend.
After the price travels in the inner fib levels first candle the manage to close above 38.2 fib in an uptrend,it could be considered that the intial uptrend resumes.
2.If any candles dosen't manage to touch the fib levels only thing you can do is to go with the break of the high.Basically it means that you are in a strong trend with little retracement.
3.Not sure I understand your question. But generally you can't really talk about a retracement which consists in only one candle. A reatreacement it's valid regardless of the 50% level. You can trade that even if it never makes it to 50. Again I don't know if I understand correct your question.
  • #8,545
  • Apr 17, 2011 4:04pm Apr 17, 2011 4:04pm
Quoting exupery
Hi Speed
In such cases, would you leave the fib at friday's?
You can leave the same fib as long as you don't have a break of a high or a low.
  • #8,546
  • Apr 21, 2011 2:41pm Apr 21, 2011 2:41pm
hey do ypu guys have the template to set up the fibs on the chart such as the swing chart intraday range chart etc i need the template
  • #8,547
  • May 29, 2011 9:24am May 29, 2011 9:24am
Will be looking to sell the GBP/USD

We need price action to come in first unless you are going to use a large stop to stop the train. Or are going to average in to the postion.

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  • #8,548
  • Jun 11, 2011 5:34pm Jun 11, 2011 5:34pm
Can someone code this indicator so i can change the style of the lines to dashes and also i would like to change the fib lines to so many days back if i want


lets say i want to go back 5 days or so it would draw the fibs for that day
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File Type: mq4 BobokusFibo.mq4   5 KB | 801 downloads
KEEP IT SIMPLE PIPPING
  • #8,549
  • Jul 10, 2011 9:39am Jul 10, 2011 9:39am
Quoting jvh2811
Can someone code this indicator so i can change the style of the lines to dashes and also i would like to change the fib lines to so many days back if i want


lets say i want to go back 5 days or so it would draw the fibs for that day

I could do the style of lines and colour changes. Maybe some else can help to make it to go back in days. This goes beyond my skills
Attached File(s)
File Type: mq4 BobokusFibo.mq4   5 KB | 933 downloads
  • #8,550
  • Jul 10, 2011 10:37pm Jul 10, 2011 10:37pm
This is an indicator someone edited for me. It might be what your looking for.
Attached File(s)
File Type: mq4 BobokusFiboFixed.mq4   6 KB | 2,043 downloads
  • #8,551
  • Aug 3, 2011 8:59am Aug 3, 2011 8:59am
Dont look to have an indicator draw your fib tools for you, they cant read waveform highs and lows correctly or think on their own, its better to draw them yourself manually.
  • #8,552
  • Aug 3, 2011 4:21pm Aug 3, 2011 4:21pm
Can you get to the main wesbite for oanda?
  • #8,553
  • Aug 5, 2011 10:56am Aug 5, 2011 10:56am
hi all ffrom italy

i am new this thread and i have an two question:
first:
1) At post 387 to post 390 the intradayfib have pulled at the high/low of the next daily candle close of swing fib (pic 1) .
2) But at the post 397 the intradayfib have pulled at the high/low of the same daily close in formation of swing fib (pic 2).
i think very strange this (pic 2) becouse at this time we cannot know how the daily candle will end.
Sameone can me explain me better this?

second:
the limit for swing fib is 30 pip. Sothat if the price to be going bearish an this retracement become over 30 pip.
At this time i can pull the swing fibo at the preview swing bullish becouse i can consider it finished...only this bulish swing can control the bearish price in formation.
Correct?


thank
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  • #8,554
  • Aug 5, 2011 1:51pm Aug 5, 2011 1:51pm
around post 258 there is an good explanation fib intraday
all start to the fib swing....and we pull it at all change swing

-we use swing fibo for to cath the first movement of price hig/low.
-the first move price can developed in something more big ..so that at the first time we want take scalp movement but if the price dont retrace an go in your run we want take an large movement. this is explanatin good in post 258. Infact the price reaches the take profit T1 T2 fibo intraday. At this place the price can consolidate and restart in your run or retrace at start position.
so that we can measure the price movement (pic1).
- but in other example post 423 to post 450 there is an different strange example (pic 2 pic3). Infact the price go bullish and dont retrace. The swing fibo is updade, but at the same time is update also the the intraday fibo at the higt...sothat we never will reach the t1 t2 take profit intraday fibo and impossible measurement the movement.

Sorry if i write too..but if i dont understand..no sense read the thread again
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  • #8,555
  • Aug 11, 2011 8:42am Aug 11, 2011 8:42am
Quoting L,,Olonese
hi all ffrom italy

i am new this thread and i have an two question:
first:
1) At post 387 to post 390 the intradayfib have pulled at the high/low of the next daily candle close of swing fib (pic 1) .
2) But at the post 397 the intradayfib have pulled at the high/low of the same daily close in formation of swing fib (pic 2).
i think very strange this (pic 2) becouse at this time we cannot know how the daily candle will end.
Sameone can me explain me better this?

second:
the limit for swing fib is 30 pip. Sothat if the price to be going bearish...
See if this helps explain,
Price fails to reach intraday target from the previous day and subsequently retraces back into the intraday levels again, at this point you may be seeing a reversal of direction and can move up your intraday fib to help determine that, especially if it looks obvious that the daily high and low may have already been met. The swing on each waveform after that, are another aid in following the price action and that balance between a long and short type condition.
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  • #8,556
  • Aug 11, 2011 8:50am Aug 11, 2011 8:50am
Quoting L,,Olonese
around post 258 there is an good explanation fib intraday
all start to the fib swing....and we pull it at all change swing

-we use swing fibo for to cath the first movement of price hig/low.
-the first move price can developed in something more big ..so that at the first time we want take scalp movement but if the price dont retrace an go in your run we want take an large movement. this is explanatin good in post 258. Infact the price reaches the take profit T1 T2 fibo intraday. At this place the price can consolidate and restart in your run or...

I think I understand what your asking here, there wont always be a swing fib, your going to have days where there is no retracement from the Intraday movement and thus nothing to place the swing fib on because price goes into a continuous movement.
The swing fib is used to measure your retracement that you get when there is retracement from an intraday move. The 30 pips just helps eliminate some of the smaller waveforms that will give you a false signal or indication, you will see these smaller waves mostly during the asian session and you want to try and avoid them when it moves into a tight consolidation. Then your waiting for the break of the asian session range to go back to trading.
  • #8,557
  • Aug 18, 2011 12:19pm Aug 18, 2011 12:19pm
Quoting Bobokus
See if this helps explain,
Price fails to reach intraday target from the previous day and subsequently retraces back into the intraday levels again, at this point you may be seeing a reversal of direction and can move up your intraday fib to help determine that, especially if it looks obvious that the daily high and low may have already been met. The swing on each waveform after that, are another aid in following the price action and that balance between a long and short type condition.
fib intraday:
yes i understand you want anticipate the move fib intraday when it fails its target t1 t2 for new higt long (A).. and came back to intraday levels 30 50 60 %(short) ...but at the same movement it must show after at the intraday levels an pullback (B) ..and go at long again ...so that i trace an new fib intraday (A) to (B)

fib swing:
with fib swing you show the same thing of intraday...sothat we can say that an new swing is true when dont reach its t1 t2 target and came back like intraday levels (30 50 60%) and show an new pullback here

now if all i say is correct there is another question for fib intraday/swing:
1) when i see the price came back in the 30 50 60%levels(short) and i see begin an initial pullback (long again)..how can i say if the pullback is true of il will be false and the price after an initial long it will go short again?
the point (A) will be sure but the poin (B) will be unsure.
2) not always fib swing reach your target t1 t2 becouse for a new swing we need an fails its t1 t2
3) this pic is strange becouse the new fib intraday is (A) to (B) (post 380 pag26)

thank
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  • #8,558
  • Aug 19, 2011 6:04am Aug 19, 2011 6:04am
Quoting L,,Olonese
fib intraday:
yes i understand you want anticipate the move fib intraday when it fails its target t1 t2 for new higt long (A).. and came back to intraday levels 30 50 60 %(short) ...but at the same movement it must show after at the intraday levels an pullback (B) ..and go at long again ...so that i trace an new fib intraday (A) to (B)

fib swing:
with fib swing you show the same thing of intraday...sothat we can say that an new swing is true when dont reach its t1 t2 target and came back like intraday levels (30 50 60%) and show an new pullback...
1.This is what your using the swing fib for, we dont know or dont want to try and predict the future movements only if support or resistance is holding or breaking, this leads you into which direction you see the market running. As long as price can be maintained either above or below your inner levels is the indication your looking for.
In this case the Intraday fib had not been moved up yet, but the swing fib was being used on the swings that occur after the previous days Intraday was established by the Daily candle closing. This gives you the overall balance points of that previous days support levels, since the Intraday levels of the previous day were never really broken it was still in use, this has the look of some fundamental issue that caused the Euro to dip deeply but not enough to actually turn it back into a bearish trending movement on the 1 hour timeframe.
Leaving your Intraday on the previous day is because support did not fail and price makes a good bounce with the 50pip bullish 1 hour candle.
Now to follow price action you use the swing fib on the waveforms as they evolve after that to see which way that balance between long and short is being maintained, if this were to move back short the swing fibs inner levels would have been broken to tell you another attempt to break short was occuring. Price never breaks that swing fibs 61.8 and later returns bullish once the volatility returns the next day.
Once you get to the point its obvious the high and low have been established then you can then move up your Intraday to the A and B points, just so you can see the balance points from the larger wave or the overall high and low at that point during that current day.
2. This is what the swing fib is meant for, to help you see or follow the price action after the Intraday levels have been established. The swing fib can be used freely from that point on, until the next Intraday is established. As each new waveform comes out you follow or measure each one to get an idea of which way the price action is moving to.As long as support continues to hold it will continue to move up, if support fails then it has the chance to reverse here.
3. Right, thats what ends up being the Intraday (A&B), the swing isnt measuring the Intraday yet, only each waveform to follow price action with. By the end of the day you can move up the Intraday because its obvious that the high and low had been established. The time of day that you see when to move up your Intraday is entirely up to each trader, based off the price action your seeing.

If one of the fib tools is confusing you as to which one to go by, then take one of em off and just use one, if you want to trade based off each waveform then your more apt to use the swing fib, if you want to trade the larger waves then your more apt to use just the Intraday.
  • #8,559
  • Aug 23, 2011 10:14pm Aug 23, 2011 10:14pm
Quoting Bobokus
1.This is what your using the swing fib for, we dont know or dont want to try and predict the future movements only if support or resistance is holding or breaking, this leads you into which direction you see the market running. As long as price can be maintained either above or below your inner levels is the indication your looking for.
In this case the Intraday fib had not been moved up yet, but the swing fib was being used on the swings that occur after the previous days Intraday was established by the Daily candle closing. This gives you the...



It's good to see you around here!
  • #8,560
  • Aug 27, 2011 8:16am Aug 27, 2011 8:16am
Quoting speedarad
It's good to see you around here!
Hi Speed, how's your trading going ?
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