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  • #301
  • Jul 12, 2011 8:25am Jul 12, 2011 8:25am
Range is too wide at the moment. Im done for the day...its 4.25 PM
  • #302
  • Jul 12, 2011 8:30am Jul 12, 2011 8:30am
Quoting red2010
sorry im not sure exactly what you mean? i have attatched a chart, but im not sure if this is what your looking for?
Check this two chart........
Attached Image(s) (click to enlarge)
Click to Enlarge Name: swing.jpg Size: 199 KB
Click to Enlarge Name: fibochart.gif Size: 23 KB
  • #303
  • Jul 12, 2011 8:32am Jul 12, 2011 8:32am
Quoting T@rantula
Range is too wide at the moment. Im done for the day...its 4.25 PM
Cheers Mate.........
  • #304
  • Jul 12, 2011 11:42am Jul 12, 2011 11:42am
Hi guys,

Subscribing to the thread, I like what you guys are showing.

Following on from Red's comments if you guys have time could you possibly go over the reason your fibs are placed where they are, as like red I would have looked at placing them at the top but obviously yours are placed in a position giving accurate levels.

Regards

Rump.
  • #305
  • Edited 4:27pm Jul 12, 2011 4:17pm | Edited 4:27pm
Quoting Munal
Check this two chart........
thanks munal, your chart does explain it alot better. i "think" your basically placing a fib after any down move (or up move). which shows a clear direction and then has a retrace?

but how do you determine what is a significant retrace for you to draw the bottom of the fibb? do you look for a certain number of candles and then you class it as a retrace or does one bar have to hit the 23.6 (for example) before you consider that as your top/bottom of the fibb?

Quoting rumpfunk
Hi guys,

Subscribing to the thread, I like what you guys are showing.

Following on from Red's comments if you guys have time could you possibly go over the reason your fibs are placed where they are, as like red I would have looked at placing them at the top but obviously yours are placed in a position giving accurate levels.

Regards

Rump.
yea its not easy mate, i always thought it was the top to the bottom, but it seems like the fibs are being placed as soon as a trend/move develops and then has a retrace.

lets see what the guys say....
  • #306
  • Jul 12, 2011 4:29pm Jul 12, 2011 4:29pm
thought it might be easier to put what im asking on your chart, as im not sure if you'd understand my questions!

i guess im just asking what helps you determine "this is the bottom of the down move and the place where im going to put my fibb.

do you keep plotting the fibb until you get a significant retrace to show you that a move has indeed ended and your fibb is in the right place?

if thats the case, what level of fibb are you looking to be hit before you consider it a valid enough retrace?

thanks
Attached Image (click to enlarge)
Click to Enlarge Name: fibb3.png Size: 68 KB
  • #307
  • Edited 6:53pm Jul 12, 2011 6:41pm | Edited 6:53pm
Quoting red2010
thought it might be easier to put what im asking on your chart, as im not sure if you'd understand my questions!

i guess im just asking what helps you determine "this is the bottom of the down move and the place where im going to put my fibb.

do you keep plotting the fibb until you get a significant retrace to show you that a move has indeed ended and your fibb is in the right place?

if thats the case, what level of fibb are you looking to be hit before you consider it a valid enough retrace?

thanks
Let me clarify you one thing.... FIBS are drawn from Swing Point..............
38.2, 50 and 61.8 are retracement level that we keep eyes ...... you have to figure swing points before placing fib level...... though price don't accurately hit those retracement level and move on main trend direction, using fib alone is dangers confluence of trend lines, pivot or 100 or 200 SMA are used widely

I have attached the picture of AUDUSD Daily...... As mention above price are approaching multi supports level we have a nice uptrend..... 100 SMA, 38.2 fib trendline support, weekly and daily support level...... so i am expecting a nice bounce out here...... see this is the way that i use fibo i dont trade slowly based on fibo.......
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 33 KB
  • #308
  • Jul 12, 2011 7:13pm Jul 12, 2011 7:13pm
Long on EU.

Entry: 3970
Stop Loss: 3950
Target Price: 4080 (R1)

Reasons: PA opened above DP
PA Tested DP
Stoch turning (a bit early perhaps)

Dangers: Against trend
Stoch not crossed
Round number (4000)

Conclusion: For me, a 20 pips risk is worth the potential reward, but will move SL to BE as soon as practically possible.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 58 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #309
  • Jul 12, 2011 7:29pm Jul 12, 2011 7:29pm
Update: PA at 4004, SL to BE to take risk away.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #310
  • Jul 12, 2011 8:17pm Jul 12, 2011 8:17pm
Quoting realjumper
Sorry....I meant on EU
This was stopped out overnight for +390.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #311
  • Jul 12, 2011 11:18pm Jul 12, 2011 11:18pm
Quoting realjumper
Long on EU.

Entry: 3970
Stop Loss: 3950
Target Price: 4080 (R1)

Reasons: PA opened above DP
PA Tested DP
Stoch turning (a bit early perhaps)

Dangers: Against trend
Stoch not crossed
Round number (4000)

Conclusion: For me, a 20 pips risk is worth the potential reward, but will move SL to BE as soon as practically possible.
This is what I call a Post this is difference between a trader and a lurker.
A Trader that wants to make money will give several reasons to justify his entry not just long or short etc..

Congratulations and Well done and honour to have RJ on board..

Regards
Black Widow
Be sensitive to subtle differences between 'intuition' and 'into wishing.
  • #312
  • Jul 12, 2011 11:23pm Jul 12, 2011 11:23pm
Quoting realjumper
Long on EU.

Entry: 3970
Stop Loss: 3950
Target Price: 4080 (R1)

Reasons: PA opened above DP
PA Tested DP
Stoch turning (a bit early perhaps)

Dangers: Against trend
Stoch not crossed
Round number (4000)

Conclusion: For me, a 20 pips risk is worth the potential reward, but will move SL to BE as soon as practically possible.

Good morning and vg job. Clear entry S/L and TP. Good resoning behind the trade
  • #313
  • Jul 12, 2011 11:32pm Jul 12, 2011 11:32pm
Entry: 3991 s/l 3950 target price 4100.

Will post a chart in 5m
  • #314
  • Jul 12, 2011 11:41pm Jul 12, 2011 11:41pm
In Simple terms....
A) Triangle has been created
B) Supply Zone at 1.3970 has been held without closing below it
c)61.8 holding our fav stucture fib...

Where is the entry either at the edge of channels with a 10 point stop below dp so the closer you get the better is for a long...

I am trying to be a bit conservative and wait for 75 ish for my entry....lets see still no trade

For shorts...Break and close below DP is the only thing I can suggest...
In a bit of a mixed mode....
Regards
Black Widow
Attached Image (click to enlarge)
Click to Enlarge Name: supply zone.gif Size: 24 KB
Be sensitive to subtle differences between 'intuition' and 'into wishing.
  • #315
  • Jul 12, 2011 11:51pm Jul 12, 2011 11:51pm
Quoting T@rantula
Entry: 3991 s/l 3950 target price 4100.

Will post a chart in 5m
No RSI signal this time.

Classic old school setup. Price opened above DPP at 00.00h.
LH and LL ( white lines) were broken by LH and HL, that could mean a trend shift.

Also Ascending Flat top triangle formed.

Attached Image (click to enlarge)
Click to Enlarge Name: eurr.gif Size: 46 KB
  • #316
  • Jul 12, 2011 11:59pm Jul 12, 2011 11:59pm
Quoting T@rantula
No RSI signal this time.

Classic old school setup. Price opened above DPP at 00.00h.
LH and LL ( white lines) were broken by LH and HL, that could mean a trend shift.

Also Ascending Flat top triangle formed.

Attachment
Yup.....looks good....we're on the same page
Doing what you like is Freedom. Liking what you do is Happiness.
  • #317
  • Jul 13, 2011 12:00am Jul 13, 2011 12:00am
Quoting BlackWid0w
This is what I call a Post this is difference between a trader and a lurker.
A Trader that wants to make money will give several reasons to justify his entry not just long or short etc..

Congratulations and Well done and honour to have RJ on board..

Regards
Black Widow
Thank you sir.....it's good to post like this because it (might) help others and it keeps me honest!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #318
  • Jul 13, 2011 12:03am Jul 13, 2011 12:03am
Ok, 4014 scaling out. I will put 2nd part on BE.

4022 needs to be broken
  • #319
  • Jul 13, 2011 12:04am Jul 13, 2011 12:04am
Quoting realjumper
Thank you sir.....it's good to post like this because it (might) help others and it keeps me honest!!
Quoting realjumper
Yup.....looks good....we're on the same page
Very humble and honest! Respect.
  • #320
  • Jul 13, 2011 12:18am Jul 13, 2011 12:18am
4032 currently. Resistance zone.

As for me my intraday position is the same. Just stops are on BE.

E: 3991 SL: 3950 TP: 4100
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