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SimpleFib Trading

  • #21
  • Feb 22, 2014 8:14pm Feb 22, 2014 8:14pm
Nice thread. It is interesting that your daily bar starts at 12:00 AM EST. Any thoughts behind that?
  • #22
  • Feb 23, 2014 1:45pm Feb 23, 2014 1:45pm
Quoting binwang2
Nice thread. It is interesting that your daily bar starts at 12:00 AM EST. Any thoughts behind that?
Hi binwang, it allows you to give consideration to all trading in London, US, Tokyo and Sydney, with London being the first. So we are measuring, through fibs, all price activity over the entire period of trading for that 'trading day' to project likely support, resistance, best short level, best long level, etc.
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  • #23
  • Feb 24, 2014 4:41am Feb 24, 2014 4:41am
My EJ long was stopped +1. Long again at H4 swing resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: ejlong3.jpg Size: 59 KB
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  • #24
  • Feb 24, 2014 4:46am Feb 24, 2014 4:46am
Long GJ @ H4 swing short level, now acting as support.
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Click to Enlarge Name: GJLONG2.jpg Size: 63 KB
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  • #25
  • Feb 24, 2014 4:51am Feb 24, 2014 4:51am
Long GA @ H4 Swing Short level, now acting as support.
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  • #26
  • Feb 24, 2014 4:54am Feb 24, 2014 4:54am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
Do we need to wait for candle close before entry ?
  • #27
  • Feb 24, 2014 4:57am Feb 24, 2014 4:57am
Quoting Ravelt
Do we need to wait for candle close before entry ?
Not necessary in these cases Ravelt as the previous two bars tested and rejected the level.
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  • #28
  • Feb 24, 2014 5:15am Feb 24, 2014 5:15am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
Quoting simoneg
{quote} Not necessary in these cases Ravelt as the previous two bars tested and rejected the level.
This two candle ?
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Click to Enlarge Name: EJ Fib.jpg Size: 90 KB
  • #29
  • Feb 24, 2014 5:49am Feb 24, 2014 5:49am
Quoting Ravelt
{quote} This two candle ? {image}
My last post was with reference to the GA and GJ trades Ravelt. You may want to wait for candle close on EJ. But the two bars you have highlighted have tested and responded positively to the swing long level yes.
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  • #30
  • Feb 24, 2014 6:14am Feb 24, 2014 6:14am
Previous EA long stopped +1, Long again at H4 swing support. May these be my only trades for the next 3 days.
Attached Image (click to enlarge)
Click to Enlarge Name: ealong4.jpg Size: 57 KB
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  • #31
  • Feb 24, 2014 6:17am Feb 24, 2014 6:17am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
Quoting simoneg
{quote} My last post was with reference to the GA and GJ trades Ravelt. You may want to wait for candle close on EJ. But the two bars you have highlighted have tested and responded positively to the swing long level yes.
Okay thanks, i'll post my trade here if i found one need your guidance. i'll try on M15 and H1 TF
  • #32
  • Feb 24, 2014 6:26am Feb 24, 2014 6:26am
Quoting Ravelt
{quote} Okay thanks, i'll post my trade here if i found one need your guidance. i'll try on M15 and H1 TF
No prob. Preferably H1 though. I have not traded below H4 in ages.
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  • #33
  • Feb 24, 2014 6:26am Feb 24, 2014 6:26am
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
Quoting simoneg
{quote} No prob. Preferably H1 though. I have not traded below H4 in ages.
Okay i'll try on H1 and H4 then. If i trade H1 or H4 which low and high i should pick ? Previous Daily Candle ?
  • #34
  • Feb 24, 2014 6:51am Feb 24, 2014 6:51am
Quoting Ravelt
{quote} Okay i'll try on H1 and H4 then. If i trade H1 or H4 which low and high i should pick ? Previous Daily Candle ?
There are two approaches I take Ravelt. One is fibbing the previous days high & low and the other is fibbing the last swings high and low. I mainly trade the latter. So you can choose which approach you wish to settle with. Also pay attention to the rules in the first thread.
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  • #35
  • Feb 24, 2014 9:43am Feb 24, 2014 9:43am
I took short on EUR/USD based on daily (intra-day fibo) / daily high-low;
Edit: tp is 3680 and 3660 ; will add more short below 3700
Attached Image (click to enlarge)
Click to Enlarge Name: fiboeurusdh1.png Size: 39 KB
  • #36
  • Feb 24, 2014 9:47am Feb 24, 2014 9:47am
Quoting 786 trading
I took short on EUR/USD based on daily (intra-day fibo) / daily high-low; {image}
Nice Trade 786!
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  • #37
  • Feb 24, 2014 9:49am Feb 24, 2014 9:49am
Quoting simoneg
{quote} Nice Trade 786!
Thank you and thanks for the nice thread. You explained very well.
I am trying to learn this method. I appreciate your hard work and effort.
  • #38
  • Feb 24, 2014 9:55am Feb 24, 2014 9:55am
Quoting simoneg
.. and mainly the GBPJPY, EURJPY and NZDJPY.
Hi Simoneg,
Is there any particular reason to choose yen pairs instead of us like GBPUSD, EURUSD or NZDUSD ?
  • #39
  • Feb 24, 2014 10:04am Feb 24, 2014 10:04am
Quoting simoneg
{quote} Greater GURU iqyu5an!!!! How have you been? Good to hear from you.
Madameeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.................................. where have u beennnnnnnnnnnnnnnnnnnnnn for very very long timeeee ???
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Click to Enlarge Name: feb24usdcadh4.png Size: 29 KB
not euphoria follower
  • #40
  • Feb 24, 2014 10:12am Feb 24, 2014 10:12am
Quoting iqyu5an
{quote} Madameeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.................................. where have u beennnnnnnnnnnnnnnnnnnnnn for very very long timeeee ??? {image}
Hi Iqyu5an,
Nice simple chart. Can you explain why you draw your fib so, I mean how you selected this hi/lo.
Also, your sell order is clicked already or it is pending order? If it is clicked already then looks like you took break-out trade?
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