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  • #241
  • Sep 5, 2011 5:05am Sep 5, 2011 5:05am
Hi Rocky,
I have set my fib levels as per your instructions, but I am struggling to understand how you choose some of the swing points to plot the fib levels from, see attached chart, using your last EURCHF example. Do you have any rules or guide lines?
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf h4.gif Size: 53 KB
  • #242
  • Sep 5, 2011 5:34am Sep 5, 2011 5:34am
Interesting methode. I'll check it out. Basically u use inner and outer trend line yes?
  • #243
  • Sep 5, 2011 5:42am Sep 5, 2011 5:42am
potential setup...

http://screencast.com/t/7JElS5Nm

(unable to attach images for some reason).

comments??

Cheers,
Jenks.
  • #244
  • Sep 5, 2011 10:05am Sep 5, 2011 10:05am
Quoting 236dave
Hi Rocky,
I have set my fib levels as per your instructions, but I am struggling to understand how you choose some of the swing points to plot the fib levels from, see attached chart, using your last EURCHF example. Do you have any rules or guide lines?
Now that's a nice looking chart. Great TL channels. As far as Fib placement no one will always use the same swing points. What I do is run Fibs from higher timeframes to lower time frame swing points and if a retracement or an extension falls into my zone then It's good to go.

Price has a habit of moving to and away from Fibs. Combine that with a good zone, trendlines and PA outside of BB then you have a real good setup, you have stacked the odds in your favor. The most important factor beyond anything else is finding the proper Demand/Support Zone,
  • #245
  • Sep 5, 2011 10:07am Sep 5, 2011 10:07am
I'm not trading this pair, it's just an example for Jenks fx, Thanks Rocky.

Attached Image (click to enlarge)
Click to Enlarge Name: 09.05.11 eur.usd.jpg Size: 172 KB
  • #246
  • Sep 5, 2011 10:09am Sep 5, 2011 10:09am
Hey Traderlarry, OMI, 4XFactor, thanks for joining my thread, Rocky...
  • #247
  • Sep 5, 2011 10:56am Sep 5, 2011 10:56am
Attached Image (click to enlarge)
Click to Enlarge Name: 09.05.11 eurjpy dailey.jpg Size: 174 KB
  • #248
  • Sep 5, 2011 10:58am Sep 5, 2011 10:58am
Quoting rocky
Hey Traderlarry, OMI, 4XFactor, thanks for joining my thread, Rocky...
A pleasure Looks great. And thank you for such an informative thread!

Kind regards
  • #249
  • Sep 5, 2011 11:54am Sep 5, 2011 11:54am
Attached Image (click to enlarge)
Click to Enlarge Name: 09.05.11 usd.cad.jpg Size: 146 KB
http://www.forexfactory.com/attachme...1&d=1313505428
  • #250
  • Sep 5, 2011 1:31pm Sep 5, 2011 1:31pm
Took that EU/CHF entry at 1.10565 and squeezed roughly 80 pips until 1.1143!
Counting already 110+++ pips!
Keep it up Rocky!
  • #251
  • Sep 5, 2011 1:39pm Sep 5, 2011 1:39pm

Great work! Keep on pushing! We (I) are loving your work!
Be well, mate. Wishing good health for you and your family!
Love your charts!
  • #252
  • Sep 5, 2011 2:23pm Sep 5, 2011 2:23pm
Quoting rocky
Hi gkw1018, I'm headed out the door for the rest of the day, I'll try and answer your question tomorrow, Thanks, Rocky...
I am hoping you can clarify this question I posted a couple of pages back....I see that your trade entries don't necessarily need a drop base rally as SS teaches. It seems as if you value fibs and trendlines and bollinger band breaches instead for confirmation. One example is the Eur/Chf demand zone you posted recently. It is nothing but a blip (rally, base, rally) in price on the origination of the zone (4hr chart).....but it did have 2 fibs confluent, it had a trendline, and a bb breach. Also do you see these spot Forex pairs turning at close to the same points as you do the Futures Currency? I do not want to waste time trading spot Forex if Futures behaves (doesn't spike through zones) in a more rational manner. Sorry to ask again.
  • #253
  • Sep 5, 2011 5:42pm Sep 5, 2011 5:42pm
Quoting gkw1018
I am hoping you can clarify this question I posted a couple of pages back....I see that your trade entries don't necessarily need a drop base rally as SS teaches. It seems as if you value fibs and trendlines and bollinger band breaches instead for confirmation. One example is the Eur/Chf demand zone you posted recently. It is nothing but a blip (rally, base, rally) in price on the origination of the zone (4hr chart).....but it did have 2 fibs confluent, it had a trendline, and a bb breach. Also do you see these spot Forex pairs turning at close...
gkw1018, that's a very good question. Seiden and I trade a little different. Although he focuses more on the drop base rally and vice versa, he also trades the rally base rally and vice versa.

What I do and he doesn't is I also confirm all my trades with my study of Fib retracements, fib extensions, trendlines and Bollinger Bands. Using both forms of Supply/Demand Zones with my additional studies have made me a very disciplined and Successful trader for many years now.

I would never trade the Spot Forex in a live account. You are actually trading against your broker. They will cause a SPIKE in price whenever they want. That's called Stop Hunting. The Forex futures are regulated. The charts are exactly the same except for the occasional spikes in the spot Forex. I am actually more successful trading the futures than the Spot forex. Even though I can still make a very good living trading the Spot Forex I can make an even better living trading the Futures because of the reasons I have just mention.

I have been trading Supply/Demand long before I even heard of Seiden But I have learned a lot from his free Videos. I have never paid for any of his training videos as I feel that it's not necessary. Hope This Helps, Rocky.
  • #254
  • Sep 5, 2011 5:45pm Sep 5, 2011 5:45pm
Quoting rocky
Attachment http://www.forexfactory.com/attachme...1&d=1313505428
Hi Rocky,
I highly appreciate your time and effort in sharing your work and guiding all the novices in the right direction.
Here is my effort in sharing my assessment of GU. Please feel free to analyse and critique. Any guidance shall be welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
  • #255
  • Sep 5, 2011 6:23pm Sep 5, 2011 6:23pm
Are those bollinger bands? If I'm not mistaken, bollinger bands rely on past price action, and thus is a lagging indicator.

Also, how are you determining supply and demand without showing Volume?
  • #256
  • Sep 5, 2011 6:39pm Sep 5, 2011 6:39pm
Attached Image (click to enlarge)
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  • #257
  • Sep 5, 2011 6:54pm Sep 5, 2011 6:54pm
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  • #258
  • Sep 5, 2011 7:24pm Sep 5, 2011 7:24pm
hi Rocky this may sound simple and forgive me if the answer is simple.

But everytime i draw a fib as u describe the opposite way round i feel as if its useless as most orders are where everyone sees TL support resis etcetc

and with our very modified fibs, are ppl not going to see the level we see fib wise if you get me.

also i drew a fib on cable from 11 aug low to high of 19 aug on h4.

the correct way as if we were doing a normal fib. and a level falls in the zone is this reliable, or only the way u say to draw the fibs?
  • #259
  • Sep 5, 2011 7:33pm Sep 5, 2011 7:33pm
Quoting deankenny21
hi Rocky this may sound simple and forgive me if the answer is simple.

But everytime i draw a fib as u describe the opposite way round i feel as if its useless as most orders are where everyone sees TL support resis etcetc

and with our very modified fibs, are ppl not going to see the level we see fib wise if you get me.

also i drew a fib on cable from 11 aug low to high of 19 aug on h4.

the correct way as if we were doing a normal fib. and a level falls in the zone is this reliable, or only the way u say to draw the fibs?
Deankenny21, can you post a snapshot of the cable with your fibs, thanks, Rocky.
  • #260
  • Sep 5, 2011 7:41pm Sep 5, 2011 7:41pm
Quoting rocky
Deankenny21, can you post a snapshot of the cable with your fibs, thanks, Rocky.
as you can see i have placed the fib the normal everyday way from left to right in this up move, is this viable as the 618 falls right into that zone?

http://i53.tinypic.com/2ibjnnr.jpg
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