Disliked{quote} What indicator is better to use with fibo ? i like stochastic, timeframe 1hr?Ignored
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@gspajon
Do you only trade the 4h timeframe?
Fibo Fibo Fibo 14 replies
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fibo alert indicator - get alerts on fibo levels 4 replies
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Disliked{quote} What indicator is better to use with fibo ? i like stochastic, timeframe 1hr?Ignored
Disliked{quote} What indicator is better to use with fibo ? i like stochastic, timeframe 1hr?Ignored
Disliked{quote} If stochastic works for you then that's great. In my experience ANY indicator is only averaging past data and has no predictive value (which is the point of using it). However if you see an overbought/oversold condition on your indicator that corresponds with a fib level, I encourage you to do a probability study of the condition to see if there is any probability of price moving in the anticipated direction. I think you will find there is nothing greater than chance (50/50). I reiterate to anyone who cares to listen. No matter what "method"...Ignored
Disliked{quote} >predictive value This, in my opinion, is a very bad way to think of things when it comes to trading. In poker, I don't bet because I'm predicting the next card will the be the ace of hearts giving me the royal flush, I'm betting because the odds that I'll win the hand are good enough concerning all the variables in poker.Ignored
Disliked{quote} I make my trading decisions based on the 4 hr time frame (FXDD is my broker). While I understand that the candles differ from one broker to the next, I find the 4 hr time frame is the best compromise between the slower daily and weekly charts, and the faster intraday charts. That being said I am very conscious of what is going on "underneath" the 4 hr chart as well as where price is moving on the larger time frames. I use the "triple screen" concept and keep three charts side by side to give myself a good view point on a given market....Ignored
Disliked{quote} ... I used to be able to say the 43% of my winners trades hit the fib 50 and turned with about a 3-12 pip variation but i haven't been keeping track of that sort of stat for the last 8 months or so. I've never really noticed any significant correlation to any of the real fib numbers and winners....Ignored
Disliked{quote} I've never been that "surgical" in my trading. For me that kind of precision requires me to be up most of the night as most of the entries occur in the London session. For me that means being up all night every night...I'm too old for that anymore. I just set pending OCO orders so that I essentially lay a "trap" for price and can often get in as close as 20 pips from a swing point. That's about as precise as I can get, as it is all done while I sleep. I don't wait to see price turn, I just enter and use the probability that price does...Ignored
DislikedHello all...here is what will probably seem like a stupid question for many of you. Do you use Fibonacci retracements to enter? If so how do you decide WHICH level to enter at? Do you enter ALL of your risk exposure at one level, or do you scale in at certain levels? Another question...Do you use some other form of confluence such as prior support/resistance, moving averages (if so which one), or confluent fibo levels from larger or smaller time frames? Is there a particular method that YOU use that you've found helpful or accurate? Thanks in advance...Ignored
Disliked{quote} Alternative Fib levels I will Tell You One Thing. First observe the yesterday candle's high and low price and candle opening and closing. Second Observe the candle color I mean bull or bear candle. Third If it Bull candle then observe the upper wick of the candle. if the upper wick is low and it seems 10% of the total candle size, then today you take the trade at 25% level of the previous days candle....Ignored
What you've outlined sounds like a technique that would be successful in a strongly trending market that looks for continuation, but seems very specific to that kind of market, which I estimate is less than 10% of the time. However it strikes me as a great technique for adding in (or scaling into) a winning position. I am curious to read more.
Dislikedgspajon, daenoracer, this is a good discussion. glad to share thoughts and discoveries.Ignored
Disliked{quote} Alternative Fib levels I will Tell You One Thing. First observe the yesterday candle's high and low price and candle opening and closing. Second Observe the candle color I mean bull or bear candle. Third If it Bull candle then observe the upper wick of the candle. if the upper wick is low and it seems 10% of the total candle size, then today you take the trade at 25% level of the previous days candle.(I mean just come down 25% from the Yesterday candle's High Price) and put the take profits 25% above of the yesterdays high price. Then see...Ignored
Disliked{quote} An interesting idea, but very unusual. I can't say I've ever heard of this technique. I have some questions regarding this: Is 25% level the ONLY level in your scale? Why 25%? If the previous day's candle does NOT meet the criteria you've outlined above, does that invalidate this technique? Do you know of or have you done any studies of this technique to show the probability or likelihood of a continuation given the above criteria? Is there somewhere I can read about this for any further detail? What you've outlined sounds like a technique...Ignored
DislikedWhich Fibo level do YOU use and why? Which Fibo level do YOU use ==38.2 and why? ==because of the oncoming impulse is still strong {image}Ignored
DislikedHello all...here is what will probably seem like a stupid question for many of you. Do you use Fibonacci retracements to enter? If so how do you decide WHICH level to enter at? Do you enter ALL of your risk exposure at one level, or do you scale in at certain levels? Another question...Do you use some other form of confluence such as prior support/resistance, moving averages (if so which one), or confluent fibo levels from larger or smaller time frames? Is there a particular method that YOU use that you've found helpful or accurate? Thanks in advance...Ignored