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  • #221
  • Sep 4, 2011 3:38pm Sep 4, 2011 3:38pm
Quoting BlackStack
Hi Rocky,
I understand what you are saying. I would not have taken a sell trade where you took the buy trade in chart 8. I was thinking that I would take a sell trade where you have your upper take profit area. That area looks like a supply zone to me, and I would be looking for a sell trade there. In a down trend I would prefer to place sell trades, and the trend will eventually work them out, even if they move into a slight draw down for a while.
Hi BlackStack, also to help you better understand why you shouldn't Sell were I took Profit on the GBP/CAD 4 hr chart watch the Video (post#220), 17 min into video that Forethan so kindly posted. It will reinforce what I have said about not shorting in a smaller timeframe supply zone when there is a larger time frame demand zone sitting right below price action, Thanks, hope this helps, Rocky...
  • #222
  • Sep 4, 2011 3:55pm Sep 4, 2011 3:55pm
Quoting deankenny21
Thanks for the constructive reply, my post was not in means of negativness but more in means of why that short would have failed. I trade James16 teachings at the moment with great success so far.

Which has made me for a start trade higher time frames, H4 and up.
Secondly made me trade naked with no indicators at all apart from price.

Which is now what brought me here. I like the look of the way you do things hence im subscribing.

Like someone said above could you please put a template of your fib settings up, as i been through the whole...
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  • #223
  • Sep 4, 2011 4:26pm Sep 4, 2011 4:26pm
Quoting rocky
Attachment
see thats what i dont get, if i put a fib from low to high as you did there, its reversed compared to your chart, 100 at the low with 0 at the top, with all them bigger numbers to the south, but in your pic they are to the north?
  • #224
  • Sep 4, 2011 4:56pm Sep 4, 2011 4:56pm
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  • #225
  • Edited 5:39pm Sep 4, 2011 4:59pm | Edited 5:39pm
Quoting rocky
Attachment
ah yes that solves the problem, so you drag it the opposite way round. Would you also look for another fib confluence say if price had come from alot higher up, doing the fib the right way round looking for say a 50% retrace etc like normal too?
  • #226
  • Sep 4, 2011 5:04pm Sep 4, 2011 5:04pm
Quoting deankenny21
ah yes that solves the problem, so you drag it the opposite way round. Would you also look for another fib confluence say if price had come from alot higher up, doing the fib the right way round looking for say a 50% retrace etc like normal too?
There is so much you can do with this tool. You can even go to a higher time frame and run a Fib extension or a fib retrace. I did one a couple of pages ago, let me see if I can find the Post.
  • #227
  • Sep 4, 2011 5:06pm Sep 4, 2011 5:06pm
Quoting rocky
There is so much you can do with this tool. You can even go to a higher time frame and run a Fib extension or a fib retrace. I did one a couple of pages ago, let me see if I can find the Post.
thanks i really appreciate your help here.
  • #228
  • Edited 5:51pm Sep 4, 2011 5:25pm | Edited 5:51pm
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Sorry, on dailey run fib study from 07/13/11 to 06/16/11, that should show 127 ext in the 4 hr Supply Zone.
  • #229
  • Sep 4, 2011 5:35pm Sep 4, 2011 5:35pm
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  • #230
  • Sep 4, 2011 5:39pm Sep 4, 2011 5:39pm
i drew the fib as described but my 1.127 falls at a different place?? something i done wrong?

http://i56.tinypic.com/9j3b5f.jpg
  • #231
  • Sep 4, 2011 5:44pm Sep 4, 2011 5:44pm
Now you have a very high probability short if PA reaches our Supply Zone...

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  • #232
  • Sep 4, 2011 6:03pm Sep 4, 2011 6:03pm
Quoting rocky
Now you have a very high probability short if PA reaches our Supply Zone...

Attachment
did u know my problem as posted in post 230
  • #233
  • Sep 4, 2011 6:10pm Sep 4, 2011 6:10pm
Quoting deankenny21
did u know my problem as posted in post 230
My Fault, read what I added to post 228, bottom of chart.
  • #234
  • Sep 4, 2011 6:14pm Sep 4, 2011 6:14pm
Quoting rocky
My Fault, read what I added to post 228, bottom of chart.
i have done this it still appears exactly the same, visually you can also see its too close to 1 aswell if u check my chart
  • #235
  • Sep 4, 2011 6:18pm Sep 4, 2011 6:18pm
Quoting deankenny21
i have done this it still appears exactly the same, visually you can also see its too close to 1 aswell if u check my chart
Make your dailey chart larger w/fibs then repost, it's hard to see.
  • #236
  • Sep 4, 2011 6:20pm Sep 4, 2011 6:20pm
Quoting rocky
Make your dailey chart larger w/fibs then repost, it's hard to see.
here you go

http://i54.tinypic.com/eqtuop.jpg
  • #237
  • Sep 4, 2011 6:26pm Sep 4, 2011 6:26pm
Level................description

1 ..........................100

0.382..................... 68

0........................... 0

1.27....................... 127

1.618......................618

1.987 .....................987

3.1597 ...................1597

.5 .........................50
  • #238
  • Sep 4, 2011 6:38pm Sep 4, 2011 6:38pm
Quoting rocky
Level................description

1 ..........................100

0.382..................... 68

0........................... 0

1.27....................... 127

1.618......................618

1.987 .....................987

3.1597 ...................1597

.5 .........................50
ah i see. i had 1.127 instead of 1.27 thank you
  • #239
  • Sep 4, 2011 7:55pm Sep 4, 2011 7:55pm
http://www.forexfactory.com/attachme...1&d=1314034770 (http://www.forexfactory.com/attachment.php?attachmentid=768750&d=1314034770)
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  • #240
  • Sep 4, 2011 8:47pm Sep 4, 2011 8:47pm
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