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Cable Update (GBPUSD)

  • #378,801
  • May 22, 2014 6:47am May 22, 2014 6:47am
Watching AUDUSD touching support...

Nail bitter!
Attached Image (click to enlarge)
Click to Enlarge Name: audusd sup.png Size: 28 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,802
  • May 22, 2014 6:48am May 22, 2014 6:48am
Quoting Magix
{quote} I really don't care where it heads... There's always a trade to be taken...
100% with that!

Just for fun (I don't draw triangles and such) but, with the fibs, I'd have something like this. Longer term of course... Hours/days not minutes. 4H chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 51 KB
Ghost Rider - WWTBMD?
  • #378,803
  • May 22, 2014 6:52am May 22, 2014 6:52am
Quoting Magix
Watching AUDUSD touching support... Nail bitter! {image}
Yeah, me too. This baby either bounces here or TIMBER!! I almost think TMBER myself but...?
Ghost Rider - WWTBMD?
  • #378,804
  • May 22, 2014 7:01am May 22, 2014 7:01am
Quoting Magix
Watching AUDUSD touching support... Nail bitter! {image}
Watching that to hold but below to 9150 area could be a worry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_AUD_USD_5 Mins_snapshot.png Size: 24 KB
Click to Enlarge Name: Chart_AUD_USD_Daily_snapshot.png Size: 30 KB
  • #378,805
  • May 22, 2014 7:02am May 22, 2014 7:02am
Quoting albchr
{quote} 100% with that! Just for fun (I don't draw triangles and such) but, with the fibs, I'd have something like this. Longer term of course... Hours/days not minutes. 4H chart {image}
Now, I know there are hundreds of theories when comes to using fibs...but I've always learned that your starting point=0 and your reversal = 100...

This will most likely be argued...but seemingly and according to what I've got here, you do need to flip your monitor upside down to view your fibs correctly...

Attached Image (click to enlarge)
Click to Enlarge Name: fibs.png Size: 231 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,806
  • May 22, 2014 7:06am May 22, 2014 7:06am
Quoting squawk
{quote} Watching that to hold but below to 9150 area could be a worry. {image} {image}
Sitting on support and you can see on the M1 where this price was respected...yellow line

But...from a manual trip standpoint, it's not on my table yet...
Attached Image (click to enlarge)
Click to Enlarge Name: audusdsup1.png Size: 22 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,807
  • May 22, 2014 7:10am May 22, 2014 7:10am
Quoting Magix
{quote} Now, I know there are hundreds of theories when comes to using fibs...but I've always learned that your starting point=0 and your reversal = 100... This will most likely be argued...but seemingly and according to what I've got here, you do need to flip your monitor upside down to view your fibs correctly... {image}
LOL... It's call a "retracement". Meaning the 100% always starts at the beginning of the trend (in this case the 4H down trend). So as it returns or "retraces" it does so in %'s of the overall 100% total move. The extension is beyond the 100%.

When I first started a guy told me you just always pull them from left to right regardless of direction up or down. I later learned this was wrong.
Ghost Rider - WWTBMD?
  • #378,808
  • May 22, 2014 7:11am May 22, 2014 7:11am
Quoting Magix
{quote} Sitting on support and you can see on the M1 where this price was respected...yellow line But...from a manual trip standpoint, it's not on my table yet... {image}

From price this is the short term area I am watching. Looking more form a GBP/AUD trade setup.


Anyway spent way to much on this forum this week have to get out of here.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_AUD_USD_1 Min_snapshot.png Size: 20 KB
  • #378,809
  • May 22, 2014 7:14am May 22, 2014 7:14am
Quoting Magix
{quote} Now, I know there are hundreds of theories when comes to using fibs...but I've always learned that your starting point=0 and your reversal = 100... This will most likely be argued...but seemingly and according to what I've got here, you do need to flip your monitor upside down to view your fibs correctly... {image}
Hi Magix,

Both are correct, not need to argue. Nice call on EJ last night.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #378,810
  • May 22, 2014 7:15am May 22, 2014 7:15am
Quoting albchr
{quote} LOL... It's call a "retracement". Meaning the 100% always starts at the beginning of the trend (in this case the 4H down trend). So as it returns or "retraces" it does so in %'s of the overall 100% total move. The extension is beyond the 100%.
Actually...it's a scale.

When you leave your house, you get in your car, do you set your trip meter to 100% of where you are going, or would you set it to zero?

Zero starts the journey.

If you hit 100% and come back to 0, this is a 100% retrace of your movement.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,811
  • May 22, 2014 7:16am May 22, 2014 7:16am
Quoting albchr
{quote} LOL... It's call a "retracement". Meaning the 100% always starts at the beginning of the trend (in this case the 4H down trend). So as it returns or "retraces" it does so in %'s of the overall 100% total move. The extension is beyond the 100%. When I first started a guy told me you just always pull them from left to right regardless of direction up or down. I later learned this was wrong.
Always a good sign that the orderbook still has orders to pick up. Lets see who ever placed those orders want to keep it moving up.
  • #378,812
  • May 22, 2014 7:17am May 22, 2014 7:17am
Quoting Mr. Scott
{quote} Hi Magix, Both are correct, not need to argue. Nice call on EJ last night.

I do agree that they can have merits to both directional movements...I've just always had better success working with them from the start to finish...not finish to start.

Maybe it's a mind game!

EJ was a skinny movement, but I shook a few...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,813
  • May 22, 2014 7:18am May 22, 2014 7:18am
Quoting Magix
{quote} Actually...it's a scale. When you leave your house, you get in your car, do you set your trip meter to 100% of where you are going, or would you set it to zero? Zero starts the journey. If you hit 100% and come back to 0, this is a 100% retrace of your movement.
... Touché brother! I love these meaningless conversations we have when we're bored stiff. But as a truck driver, my trip is always a "round trip" (much like price) so yes, 100% would be once I got back to where I started from. ....
Ghost Rider - WWTBMD?
  • #378,814
  • May 22, 2014 7:20am May 22, 2014 7:20am
Quoting Mr. Scott
{quote} Hi Magix, Both are correct, not need to argue. Nice call on EJ last night.
Hi Scott

Magix and I are buds. We're not arguing, just passing the time in meaningless babble.
Ghost Rider - WWTBMD?
  • #378,815
  • May 22, 2014 7:21am May 22, 2014 7:21am
Quoting Magix
{quote} I do agree that they can have merits to both directional movements...I've just always had better success working with them from the start to finish...not finish to start. Maybe it's a mind game! EJ was a skinny movement, but I shook a few...
If you look at my response to your pound chart yesterday, you will notice we get to the same place.

Mine is just more accurate.

Chris, understood, I love Magix, otherwise I would probably not respond.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #378,816
  • May 22, 2014 7:23am May 22, 2014 7:23am
Quoting Magix
{quote} Now, I know there are hundreds of theories when comes to using fibs...but I've always learned that your starting point=0 and your reversal = 100... This will most likely be argued...but seemingly and according to what I've got here, you do need to flip your monitor upside down to view your fibs correctly... {image}
Plot 76.4 (inverse of 23.6), and not 78.6, and I guess it doesn't really matter if your plot is the wrong way.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #378,817
  • May 22, 2014 7:25am May 22, 2014 7:25am
Quoting Magix
{quote} Now, I know there are hundreds of theories when comes to using fibs...but I've always learned that your starting point=0 and your reversal = 100... This will most likely be argued...but seemingly and according to what I've got here, you do need to flip your monitor upside down to view your fibs correctly... {image}
Started to use fibs this year, only when new low or new high is set, even better when that high or low is set by monthly/weekly/daily pivot or R or S depend on your tf, since you scalp M1 yours would be daily, then I draw my fibs and wait to reaction between mid and 61.8(Gator's mofu) then I buy/sell that spot and aim at nearest extension.
Rest is psychology, waiting, MM all that crap,
Most people use fibs in a wrong way because template is set in the wrong way, you actually need 61.8 and its extension, nothing else.
swing it!
  • #378,818
  • May 22, 2014 7:26am May 22, 2014 7:26am
Quoting Mr. Scott
{quote} If you look at my response to your pound chart yesterday, you will notice we get to the same place. Mine is just more accurate. Chris, understood, I love Magix, otherwise I would probably not respond.
... so there Magix! ...
Ghost Rider - WWTBMD?
  • #378,819
  • May 22, 2014 7:26am May 22, 2014 7:26am
Quoting 45Condor
{quote} Plot 76.4 (inverse of 23.6), and not 78.6, and I guess it doesn't really matter if your plot is the wrong way.
Isn't that like fixing an electrical cord with duct tape?

lol

Why have predetermined levels if we are going to ignore them and just do whatever the hell we want?

Love you posts, Condor!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,820
  • May 22, 2014 7:28am May 22, 2014 7:28am
Quoting Magix
{quote} Isn't that like fixing an electrical cord with duct tape? lol Why have predetermined levels if we are going to ignore them and just do whatever the hell we want? Love you posts, Condor!
But..... .... duct tape fixes EVERYTHING!
Ghost Rider - WWTBMD?
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