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  • #12,621
  • Nov 10, 2012 1:40am Nov 10, 2012 1:40am
Regarding the poll, so far nobody votes for Fibonacci Numbers. This is a surprise to me.
daddybearforex. com
  • #12,622
  • Nov 10, 2012 1:58am Nov 10, 2012 1:58am
one thing that i would add (and vote!, as i still not have voten) is market geometry.
Of course, supports and resistances are turning points, now if we connect all these turning points (each turning point with their correspectives, ex. short-term with short-term, medium-term with medium-term, etc...) we can see some kind of patterns that repeat themselves inside bigger patterns, that repeat themselves inside bigger ones, etc.. now, the vision of all those patterns co-existing and interacting within each other (the little ones with the bigger ones etc.), is what i call market geometry, and what i use to take my trading decisions.
I would add it in the poll.

Cheers
  • #12,623
  • Nov 10, 2012 1:58am Nov 10, 2012 1:58am
There are some forms of trendline that seldom people have used on their chart other than the normal utl and ltl with horizontal lines, but there are certain ways how trendline can be drawn as it's actually the fastest towards price action on live rates, and the past's tl are actually part of the future as well, it's all on the chart, one of the few strategy i have lately adapted to sync it with fibo and pa.

Fibonacci is one of my favorite tools for trading potential retracement/reversal, but without trendline fibo will just keep moving higher and higher or lower and lower and we dont know the top or bottom. tl potential tells the future price probability or the next potential set up with very limited risks involved as a break of tl set up is a cancellation of order and reverse the direction, for instance if i have a sell that get stop out from tl point of view, my buy stop are already placed above to catch the next possible moves.

anyway, anyone watch the cityindex's episode of traders? competing to win 100k pound. I was quite surprised why they are selected to compete, as i think that maybe more than 5% of the uk traders in ff can perform better than any of them :| .
  • #12,624
  • Nov 10, 2012 2:07am Nov 10, 2012 2:07am
Quoting tunera
one thing that i would add (and vote!, as i still not have voten) is market geometry.
Of course, supports and resistances are turning points, now if we connect all these turning points (each turning point with their correspectives, ex. short-term with short-term, medium-term with medium-term, etc...) we can see some kind of patterns that repeat themselves inside bigger patterns, that repeat themselves inside bigger ones, etc.. now, the vision of all those patterns co-existing and interacting within each other (the little ones with the bigger ones...
this is what i mean
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 35 KB
  • #12,625
  • Nov 10, 2012 3:05am Nov 10, 2012 3:05am
Quoting tunera
one thing that i would add (and vote!, as i still not have voten) is market geometry.
Of course, supports and resistances are turning points, now if we connect all these turning points (each turning point with their correspectives, ex. short-term with short-term, medium-term with medium-term, etc...) we can see some kind of patterns that repeat themselves inside bigger patterns, that repeat themselves inside bigger ones, etc.. now, the vision of all those patterns co-existing and interacting within each other (the little ones with the bigger ones...

I think DB should change fib numbers to fractals. What you're saying and what fib numbers are are fractals.

Quote
any of various extremely irregular curves or shapes for which any suitably chosen part is similar in shape to a given larger or smaller part when magnified or reduced to the same size
Play the players, not the cards.
  • #12,626
  • Nov 10, 2012 9:11am Nov 10, 2012 9:11am
Quoting GnarlyPips
I think DB should change fib numbers to fractals. What you're saying and what fib numbers are are fractals.
I cannot change it after the poll is open. The reason I set up this poll was because I have had a question about the priority of those chart components whether or not they are visible. The fractals are more like swings. I'd think Fibonacci Numbers are more critical than fractals IMO.
daddybearforex. com
  • #12,627
  • Nov 10, 2012 9:19am Nov 10, 2012 9:19am
Quoting DaddyBear
I cannot change it after the poll is open. The reason I set up this poll was because I have had a question about the priority of those chart components whether or not they are visible. The fractals are more like swings. I'd think Fibonacci Numbers are more critical than fractals IMO.
My question was due to the inconsistency of the ending/beginning of a trend or sub-trend in relation to those chart components. Sometimes, it's R/S but sometimes it's not. I believe this poll will help solving this question to certain degree. At least, the one with highest votes represents the majority of human herd mentality. If so, then we can focus on that component more in the making of one's trading decisions. IMO
daddybearforex. com
  • #12,628
  • Nov 10, 2012 9:21am Nov 10, 2012 9:21am
Quoting Eric D
Long time since I posted a chart for the AUD/USD but this is my most recent view of the pair, the overall trend considering the technical nature of the EMA points upwards for the daily and weekly timeframes, recent channel-trading activity shows also some momentum on the long side as price resides above the 200, 100 and 50 EMA, last week price action started with a heavy push on the north side for two days just to fall into correction for the rest of the week, hoever I believe that we get the right price action around the most recently formed support...
Eric, I noticed that you had received two vouches last night. Your chart analysis could be the major factor. Please keep up your good job. DB
daddybearforex. com
  • #12,629
  • Nov 10, 2012 9:25am Nov 10, 2012 9:25am
Quoting DaddyBear
My question was due to the inconsistency of the ending/beginning of a trend or sub-trend in relation to those chart components. Sometimes, it's R/S but sometimes it's not. I believe this poll will help solving this question to certain degree. At least, the one with highest votes represents the majority of human herd mentality. If so, then we can focus on that component more in the making of one's trading decisions. IMO
Due to FF's limitation of answers to 5 only, I only provide those five major components. In fact, the confluence may be the one we have to pay attention to. This can be done by combining two or more of those components to identify the entries or exits.
daddybearforex. com
  • #12,630
  • Nov 10, 2012 9:29am Nov 10, 2012 9:29am
Quoting tunera
this is what i mean
The question now is if there will be a down move before it is shooting up. Seems to me, your chart indicates no retracement. I believe there shall be a setback or a winding process before a major up move happens. IMO

http://www.forexfactory.com/attachme...1&d=1352534799
daddybearforex. com
  • #12,631
  • Nov 10, 2012 9:32am Nov 10, 2012 9:32am
Regarding the poll, it is a surprise that the component of Fibonacci Numbers is not considered by the majority of the poll participants so far.
daddybearforex. com
  • #12,632
  • Nov 10, 2012 9:38am Nov 10, 2012 9:38am
This poll will definitely help most people here trade better. For example, yesterday, I quit the short position a bit too early. The main reason was because unstable Internet connection at that time. But, if I could identify the major components, I would gain more pips in a short time frame. In my case, it was the S1.

It would make a big difference, if I could gain the last miles every time.
daddybearforex. com
  • #12,633
  • Nov 10, 2012 9:47am Nov 10, 2012 9:47am
In addition to identifying the levels or points of right entries or exits, understanding one's own repeated mistakes is also critical. Knowing what's wrong in trading would eliminate wrong or early entries.
daddybearforex. com
  • #12,634
  • Nov 10, 2012 9:53am Nov 10, 2012 9:53am
"Chinese Leaders Say Economy Turning a Corner"

http://www.cnbc.com/id/49770818

If they are not making up the good news this time, my projection will be fulfilled. This news will energize the Bulls to retest 1.0408xx on Monday or Tuesday. IMO

http://www.forexfactory.com/attachme...1&d=1352517283
daddybearforex. com
  • #12,635
  • Nov 10, 2012 9:57am Nov 10, 2012 9:57am
Quoting DaddyBear
"Chinese Leaders Say Economy Turning a Corner"

http://www.cnbc.com/id/49770818

If they are not making up the good news this time, my projection will be fulfilled. This news will energize the Bulls to retest 1.0408xx on Monday or Tuesday. IMO
If there is a setback on Sunday open, I would take that opportunity to long. However, due to CNY TB data yesterday and this news today, I doubt the possibility of the setback at this point.
daddybearforex. com
  • #12,636
  • Nov 10, 2012 12:49pm Nov 10, 2012 12:49pm
Coming week scenario:

The China Bull is eying on the upticks and blow the smokes into the air while the Bears are holding the USD balloons on the back of the Bull .........
Attached Image (click to enlarge)
Click to Enlarge Name: RED EYES.JPG Size: 65 KB
daddybearforex. com
  • #12,637
  • Nov 10, 2012 12:56pm Nov 10, 2012 12:56pm
Quoting DaddyBear
Coming week scenario:

The China Bull is eying on the upticks and blow the smokes into the air while the Bears are holding the USD balloons on the back of the Bull .........
How long can this drug made in China last for the Aussie Bulls? Will the Bears stay put without fighting back?
daddybearforex. com
  • #12,638
  • Nov 10, 2012 1:06pm Nov 10, 2012 1:06pm
Quoting DaddyBear
How long can this drug made in China last for the Aussie Bulls? Will the Bears stay put without fighting back?
While the CCP is undergoing a major power transfer, any news coming out from China will be "terrific". Regardless of whether or not China CCP makes up these news during this power transfer to make everything looks better, the Aussie Bulls will buy these news anyway. This "fact" will support my projection for one more wave up in the first half of the coming week.

http://www.forexfactory.com/attachme...1&d=1352517283
daddybearforex. com
  • #12,639
  • Nov 10, 2012 1:09pm Nov 10, 2012 1:09pm
in regards to polls, i prefer trend lines - whether the price action is neutral, triangle forming, or trending, they tend to work - most of the time.

I also think candle formations are important as well.

Fibonacci is important but i'm not very comfortable relying on it inside the triangle formaton - same applies to ewp - these often do not work inside the triangle formation, where quite often the price action consists only of two waves rather than the standard three.

Once the currency pairs exit their respective triangle formations, ewp and fibonacci will again become important - imho
  • #12,640
  • Nov 10, 2012 1:09pm Nov 10, 2012 1:09pm
Quoting DaddyBear
While the CCP is undergoing a major power transfer, any news coming out from China will be "terrific". Regardless of whether or not China CCP makes up these news during this power transfer to make everything looks better, the Aussie Bulls will buy these news anyway. This "fact" will support my projection for one more wave up in the first half of the coming week.
Although I cannot say all news coming out from China during this critical time are all fake, by the same token, I would say not every piece of China news is real. IMO
daddybearforex. com
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