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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #17,101
  • Dec 31, 2011 6:42am Dec 31, 2011 6:42am
Quoting billytt
oops, last post when i said they dont work, i meant inside bars not fibs
Fibs work, but not how traders use them.

they have no predicting values what so ever, but they do tell you the strength of the current wave.

50%--------------- is your line in the sand
60+% still signals continuation
the greater % retrace, logically the more the possibility of formation mutation.
100% just by simple logic looks like a range not a retrace
AVT INVENIAM VIAM AVT FACIAM
  • #17,102
  • Dec 31, 2011 6:43am Dec 31, 2011 6:43am
Quoting billytt
glad you appreciated the chart, then when you spoke about it you lost me lol. i know about fibs etc but the way i trade i dont use them. and as i have already said they dont always work and it is almost the end of the year and was end of trading week. But it was a good example. I havent traded since before 22nd and am waiting for new year. i wonder how a/u is getting on i reckon its going to drop (thats not a prediction) its what my stats say. anyway take care
Hey Bill, I just assuming myself doing short-term trade based on that candle ..yeah the interpretation and act varies from trader to trader ... long term trader may interpret the approach differently than the shortermers ... but then the excellent part comes....

we learn when we discuss .. thank you
  • #17,103
  • Dec 31, 2011 6:45am Dec 31, 2011 6:45am
Quoting FXMindset
Just wake up
In this christmas or new year am not going anywhere,Just spend all's my weekend and holidays for study,learning everything/new stuff about market and any storied Billytt?

Any Party Guys?
Hey fx .. pls comment on the Broadening Bottoms I posted on the previous page
  • #17,104
  • Dec 31, 2011 6:46am Dec 31, 2011 6:46am
now billy look at it this way, if <68% retrace happens what is your logical expectation?

>100% extension right? hence 168% being so "mystical"
AVT INVENIAM VIAM AVT FACIAM
  • #17,105
  • Dec 31, 2011 6:47am Dec 31, 2011 6:47am
what was that buddy. Reckon67 i looked at your chart which is unusual for me and noticed if they had been reset slightly they would of corresponded to the movements of the the chart. This is an observation not me telling you to adjust them lol. Secondly i look at the chart and can see without the fibs on. i hope you understand it is hard for me to explain. i believe piptrapper posted something about people knowing things in subconscious level.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,106
  • Dec 31, 2011 6:50am Dec 31, 2011 6:50am
Quoting rekon67
Hey fx .. pls comment on the Broadening Bottoms I posted on the previous page
Yes,Based on your chart its broadening
But am mostly drawing chartpatterns @ Daily TF,Personaly I think its more accurate than any TF and after you familiar yourself on Daily TF,you may try switch to 5M,Btw its me

Note : a valid and breaking patterns on Daily TF usually would be worth around 300-500 pips if you can catch well

What time in india now?Should be same timezone with china?
If there was easy money lying around,no one would be forcing it into your
  • #17,107
  • Dec 31, 2011 6:52am Dec 31, 2011 6:52am
Quoting billytt
what was that buddy. Reckon67 i looked at your chart which is unusual for me and noticed if they had been reset slightly they would of corresponded to the movements of the the chart. This is an observation not me telling you to adjust them lol. Secondly i look at the chart and can see without the fibs on. i hope you understand it is hard for me to explain. i believe piptrapper posted something about people knowing things in subconscious level.
Nothing,Just sometimes feel that you are weird but quite adorable
How's life
If there was easy money lying around,no one would be forcing it into your
  • #17,108
  • Dec 31, 2011 6:56am Dec 31, 2011 6:56am
Quoting billytt
what was that buddy. Reckon67 i looked at your chart which is unusual for me and noticed if they had been reset slightly they would of corresponded to the movements of the the chart. This is an observation not me telling you to adjust them lol. Secondly i look at the chart and can see without the fibs on. i hope you understand it is hard for me to explain. i believe piptrapper posted something about people knowing things in subconscious level.
Correct again Bill ... but it may be easy for you since u r a hardcore trader .. but what about me or some other fellow who are trying believing there is a pattern (which if we draw and make a visual - provide me a set up to look at and take decision) ... And by following that pattern may be give me some success in this market where we (learners) have weak fundamentals and trying to compensate that with the technicals.
  • #17,109
  • Dec 31, 2011 6:57am Dec 31, 2011 6:57am
Quoting billytt
i know about fibs etc but the way i trade i dont use them. and as i have already said they dont always work
Fibs are a handy tool. I phase in and out of using them. Here is a breakdown of how I would use fibs with pivots and round numbers. As red dots get more violent the confluence builds up.

This is why I was a bit picky with Rekon's fibs because when you draw them out accurately without romancing them you can get some good levels.

http://img710.imageshack.us/img710/9964/breakdown.gif
  • #17,110
  • Dec 31, 2011 6:58am Dec 31, 2011 6:58am
Quoting FXMindset

What time in india now?Should be same timezone with china?
1.30 Hrs late from you it is 6:30 PM now .... New Year Eve
  • #17,111
  • Dec 31, 2011 6:59am Dec 31, 2011 6:59am
erm erm sorry bud but i am not with you. i do not know about mystical numbers. i know whole numbers have a psych meaning. i know if a pair goes from A to B it will normally then retrace as profiteers trade and once corrected will proceed . i trade a simple way, i do like to learn and yes i visit many forums looking for new trading ways or ideas.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,112
  • Dec 31, 2011 7:00am Dec 31, 2011 7:00am
Quoting rekon67
1.30 Hrs late from you it is 6:30 PM now .... New Year Eve
If there was easy money lying around,no one would be forcing it into your
  • #17,113
  • Dec 31, 2011 7:02am Dec 31, 2011 7:02am
Quoting Tyoon
This is why I was a bit picky with Rekon's fibs because when you draw them out accurately without romancing them you can get some good levels.
Yo Tyoon ... would be good if u post just one pic which shows the High Low....
  • #17,114
  • Dec 31, 2011 7:06am Dec 31, 2011 7:06am
Quoting billytt
erm erm sorry bud but i am not with you. i do not know about mystical numbers. i know whole numbers have a psych meaning. i know if a pair goes from A to B it will normally then retrace as profiteers trade and once corrected will proceed . i trade a simple way, i do like to learn and yes i visit many forums looking for new trading ways or ideas.
"mystical" was in quotation marks.

however lets debate about this in a logical way.

you agree that price moves in waves, impulse and corrective right?

<50% will show strong continuation tendency right?
68% still signals continuation right?

the more % retrace, the more it looks like a mutation in formation right?

100% looks like a range correct?

so what is the most logical way to take advantage of a 100% retrace? anticipate range condition right?


fibs are measurement of wave % , then if you look at the geometry of wave formation from 100% with support the logical conclusion is 100% approx extension for wave pattern.

68%< you can expect >100% extension from this point of support right? or else it is not a continuation
AVT INVENIAM VIAM AVT FACIAM
  • #17,115
  • Dec 31, 2011 7:07am Dec 31, 2011 7:07am
Quoting rekon67
Yo Tyoon ... would be good if u post just one pic which shows the High Low....
I posted multiple pics with multiple high/lows for the purpose of visual clarity to identify confluence.
  • #17,116
  • Dec 31, 2011 7:12am Dec 31, 2011 7:12am
Quoting the redlion
"mystical" was in quotation marks.

however lets debate about this in a logical way.

you agree that price moves in waves, impulse and corrective right?

<50% will show strong continuation tendency right?
68% still signals continuation right?

the more % retrace, the more it looks like a mutation in formation right?

100% looks like a range correct?

so what is the most logical way to take advantage of a 100% retrace? anticipate range condition right?


fibs are measurement of wave % , then if you look at the geometry of wave...
I have not thought of fibs in this way before. Thank you.
  • #17,117
  • Dec 31, 2011 7:13am Dec 31, 2011 7:13am
i couldnt zoom in on your chart showing fibs, BUT i agree entirely fibs are a good thing. they are one of natures freaky things too.do you start them from last high to current low and using same candles also use last highs low to current lows high lol. sorry i am serious i can draw it for you if you want. and yes reckon67 i honestly dont think it has to be precise on charts and you trade how you trade. what i' m trying to say is dont always rely that trading is easy and follows rules because it doesn't. and as for fxmindset,, why am i weird lol i trade my own unique way, the trend might be going which ever way and if my stats say trade the opposite way i will. i chase 40 pips normally going off about 5 or 6 pairs and once i start compounding pips add up.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #17,118
  • Dec 31, 2011 7:13am Dec 31, 2011 7:13am
Quoting Tyoon
I posted multiple pics with multiple high/lows for the purpose of visual clarity to identify confluence.
..may be this is breaking at my site .. when i try to zoom in ... ok will investigate later
  • #17,119
  • Dec 31, 2011 7:17am Dec 31, 2011 7:17am
Quoting billytt
i couldnt zoom in on your chart showing fibs, BUT i agree entirely fibs are a good thing. they are one of natures freaky things too.do you start them from last high to current low and using same candles also use last highs low to current lows high lol. sorry i am serious i can draw it for you if you want. and yes reckon67 i honestly dont think it has to be precise on charts and you trade how you trade. what i' m trying to say is dont always rely that trading is easy and follows rules because it doesn't. and as for fxmindset,, why am i weird lol...
Adorable Weird
If there was easy money lying around,no one would be forcing it into your
  • #17,120
  • Dec 31, 2011 7:17am Dec 31, 2011 7:17am
Quoting billytt
i couldnt zoom in on your chart showing fibs.
Quoting rekon67
..may be this is breaking at my site .. when i try to zoom in ... ok will investigate later
You can left click and it opens. Left click again to zoom in, then scroll up. I guess you might be using a different browser than me (I am using Chrome). If you are then you can right click on the image 'Save Image As..' and save it to your computer and zoom in on it with a picture/photo viewer.

....or you can download it in a zip:

..
Attached File(s)
File Type: zip fib breakdown.zip   143 KB | 294 downloads
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