Price Reflective Analytics

We're learning a new way to do fibs....

While I prefer to use PRA 2 myself, I am taking into consideration the newbies, who might need to see clear signals, and use alternative support indicators such as ADR and H/L objects.

The gann line, with candles chance are timed together, along with strength or weakness on the current time preasure.

Once you get a good understanding of creating you own support and resistance as time goes on during this thread, you will probably elimate them from PRA 1 and 1a, or just use the pro charts Pra 2

But for clearer signals, and understanding we'll refrence pra1

I won't be discussing to much how the high/low, adr and JJN Fibo work, as it should be self explanitory.

But I will share clean signals provided and areas we create using these exclusive fib tecniques.

The systems in of themselves can be used with out the Merkafibs, I hope that's not to vain, but might as well call them something...hahaha, but in this thread I want to share good systems, and alittle fibonacci methodology.

So, as we progress we will discover ways to trade what we see, as well identify key areas in the markets that might not be there by other means. This will only aid, and confort you decisions trading what you see, by having these multiple areas of fibonacci confluence.

the 30 min, will provide you on PRA 1 the cleanest signals...often I will look for a white dot to appear and thake the signal on the 3o min gann cross, only 3 things can happen, price shoots, and goes your way, it crosses gann, then pulls back, not making a new low and the preasure does not suggest you were wrong, and then goes, or you will be wrong, and taken out.

I always look to have my stops below the previous low of price, or one of the near by lower open/close bars.

so do all indies go on all templates,or some indies on some templates......sorry bit lost Merk

The templates will load accordingly, there are 4 templates total, 2 with slight variations. PRA 1 and 1a, are the same except one uses a different form of support and resistance indicator than the other.

PRA 2 and 2a are the same, one is onlt lagging a bit more for a filtering effect and uses a modified CCI on 2a, instead of a current time waddah.

Until you get a feel for what the support and resistance indicators are telling you on PRA1 and 1a you might just eliminate them and do traditional fib confluences.

As I mentioned they are there for the newbies that don't yet know how to do complex fibonacci.

But, I will try to make the comlicated simple, it is like anything else that is new, takes a bit of time to master the skills. But once you have it, it's yours....

There is no right or wrong template, it's just a matter of what suits you, or which one you feel comfortable with. I wanted to provide 2 templates with sloght variations, yet very similiar, the gann signals might be easier to see on the PRA 1, than the heiken candle signals for some traders.

We're taking into consideration the longer term trend strength on that particual time frame. I suggest you just monitor price action and see if it tells you anything. the template themselves will load differently automatically, without you having to do anything, once loaded it's your choice which one suits your needs, or does'nt.

These are only templates I've created over the course of many hrs to provide myself with details about the markets I feel are important.

Some of these systems might not suit you, but you can still learn new methods of doing fibonacci work, or you might not want to learn new fibonacci methods, and find the systems themselves provide enough information. It's not a one size fits all, as we are all different, what I want to share is some Ideas, and tools we can use to try and make better trades.

If I succeed in doing this, is for you to decide....=)

P.S. what I might suggest, is on PRA 1a is that you make the H/L objects only showing the weekly/monthly highs/lo's This way you eliminate the 1hr, 4hr , daily resistance lines, are there to look for shorter areas of support and resistance, and beakouts.

Perhaps alittle to clutter for some, just an idea.

Newbies hang in there, some of you vets if you can help them so I am not overwhelmed with questions, I want to help everyone,but I am only one, so please step up on thier behalf. Pros, here are more samples for you now...also newbies, please understand, that the templates PRA 1 and 1a, will help to give you some clarity into the markets, don't feel left out if things start to get alittle complex.

I want to give the pros some food for thought as well provide for you, so hang in there.

Things are starting to get good....There are typically 2 good swings in a 24hr secession, outside a totally dead day, as traders, intraday..I want to give you some foood for thought, while I do look for long term support and resistance for the bigger ball, we still want to get single, and double aliutlte baseball analogy.

would any of you pros out there taken any of these intra day trades?

continuing along...

Although I consider you all family...=)

I still need to take a break will pick up with more to come later, you have some food to digest.

If anyone has coding experience I'd like your help, I have some ideas to automate the process, please send me a private message, we can make this alot easier. Afriend of mine reminded me simplicity is the ultimate form of sophistication, I may have overwhelmed some of you with 4 templates, so i am refining to only use one.

I need a coder though, to add levels it won't be hard, then we can do manual fibs within these levels which will match rather closely. Thank you!

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Sorry Merk,but i am totally confused as to what we should be looking at for a signal to trade,Can you take 1 chart and s l o w l y explain.
Tedge

Hi Merk

Just wanted to ask a question.

I noticed that in your chart regarding fibs, you have written to draw fibs from open to high and from high to open......just wondering why not low.

Thanks in advance.

Same here.

That's great, Merk, you read my mind, thank you!

Merk, I hope some programmer would read this post and help you. However your request doesn't have a big exposure here.

If I were you I would start a new little thread in the "Platform Tech" section and would post your request there. The coders visit "Platform Tech" section regularly, so your request would get much bigger exposure overthere.
http://www.forexfactory.com/forumdisplay.php?f=69

The last set up, being I am showing a new way to do fibs with the dots, and market profile will be the template I am using from here on out, moving forward.

I think If I do aome sample trades enough times using only one set up will provide a more clear detail what I am doing.

so just bare with me, I never really started a thread before and not the best teacher, so wil be a learning experience for all of us, but I'll do my best, with showing trade set ups, every day on 6 majors.

Hope this helps, stay tuned!

P>s> exposure, I realize this, the post was moved within the 1st 24 hrs, but it's ok...I can show you how to do this manually, and I do have an indicator I use in a way that it was not intended to provide some confluence, you still have to type in the open price to get levels, and we'll do manual fibs to get confluence areas as it moves along. so, I guess being we won't be getting the exposure, we'll just be the lucky few?

My friend over at compassfx.com suggested getting back to the basics, not overwhelming, so I am taking a step back, and refining alittle to provide clarity, I was trying to satisify all traders.

But, I think everyone has the ability to learn, and relearn...so, I will consider everyone pros from here forward....=)

We will be discussing range trading, intrday, using the 15 min charts ok?, the days of trnd trading are over, there are no smooth, natutal flowing moves in todays markets, while we will try to hit the long ball, it's not really that productive, the weekly range on most pairs is 200-250 pips.

but price may go down 70 one day, up 100 the next, down 80, up 120, down 60, up 80, up 100, so while the market for the week only may move 200 pips, 300-400 are there in range trading, that is the market noise today, you can trend trade, but hurts to be up 120, then the next day you are only up 30, from a physcological stand point this can be hard on a trader.

Nothing is smooth today, and price does'nt dreadually just move those amount of pips intrday in these ranges, it can shoot 70 pips in one 5 min candle, they don't want to make it easy for you.

So, as traders we need to think in terms of snagging 20-50 ppips per day and out!

That's great! I always wanted to trade M-15, M-15 fits my personality, but by now I have good systems for H-1, M-5 and even M-1, but I still don't have a system for M-15.

YES!

I found some free web confrencing software, we might be able to do some live amrket analysis this way, be alot easier than trying to demonstrate on a forum....

I think that would explain things alot easier,thanks

little taste of a nice support area, with high upside potential for you on the usd/cad....

Hi Ziggy...Do you know anything about that moving average on your chart?...

this is most probably the indicator on your chart...