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  • #1,102,841
  • Apr 8, 2017 9:38am Apr 8, 2017 9:38am
Quoting RainBowDash
{quote} I understand your point and it has been well noted. I use fibs as a "visual reference" and have 0 understanding of EW. Maybe I should look into it. Do you have any good resources Davit?
There is ton of info on the net but simplified version what I use on my thread Pivot trading.You may want to check out.
In trading, you have to be defensive and aggressive at the same time
  • #1,102,842
  • Apr 8, 2017 9:45am Apr 8, 2017 9:45am
Quoting RainBowDash
{quote} So what is the correct way to use it? I ask, because I have noticed many people claiming to using it, but I don't see any constant results which reveals it is a good form of trading. I'm not trying to spark a war, simply asking an opinion. I use fibs and only use only 3 actual numbers, which aren't the "normal" numbers which people claim to use. Would you agree that EW trading results in higher drawdown in pips, being as one is likely to enter on the extreme edges of a run?
oh gee, dont start this one again. you probably weren't here when this debate went on. but i use fibs very effectively
  • #1,102,843
  • Apr 8, 2017 9:49am Apr 8, 2017 9:49am
Quoting RainBowDash
I just checked XE and EU has thus far gapped down. {image} That doesn't fair well for my GJ short.
its only saturday, also on XE website it has EU at 1.0590?
  • #1,102,844
  • Edited 11:03am Apr 8, 2017 10:33am | Edited 11:03am
Quoting Davit
{quote} most people measure fibs on individual swing or waves that are actually part of EW whiteout even realizing it..So saying 618 retracement of a swing is basically measuring a EW wave. I trade Fib pivots and I know and understand how deeply its connected to EW To me saying I don't believe in EW and using Fib retracement as a trading tool is missing the point by a mile and basically a ignorance.
Maybe I should have said "I don't count Elliot Waves" instead of "I don't believe in Elliot Waves"?
There are many harmonic traders who don't care for counting Elliot Waves and my trading evolves around priceaction (Candlestick patterns) at and around Fibonacci levels and Pivot Points (I only use Pivots for intraday trading). My entries are 100% taken on candlesticks alone that must be in line with the overall framework.
Fibs and Pivots help me do two things:
- measure Stops and Targets
- outline pricelevels/zones to watch for specific priceaction
I use them mostly on the D1 and H4, for visual reference, outlining a framework/scenario/however you call it.

sorry for being missleading when I wrote "I don't believe".
I'm a buddhist and I do believe in god. Doesn't mean I doubt he Hindu gods... if you know what I mean.
No mean to shake a believe system. For me there is no right or wrong in trading and anything that works for you is fine.
For me counting Elliot Waves doesn't work, because I'm bad at it and that's why I don't use it (consiously).
Has nothing to do with "ignorance", ok?
I didn't know that I am not allowed to use Fibonacci in my trading when I don't use Elliot Waves. Please forgive me my ignorance *lol*
you are not expected to understand this
  • #1,102,845
  • Apr 8, 2017 10:40am Apr 8, 2017 10:40am
Quoting RainBowDash
I just checked XE and EU has thus far gapped down. {image} That doesn't fair well for my GJ short.
Damn, this is bad. My tp is 10 pips higher than that! I hope it comes back to 58xx region

Edit: Wait, it shows the 1.059 on mine? How did you get that 1.056 number?
  • #1,102,846
  • Edited Apr 9, 2017 7:59am Apr 8, 2017 10:48am | Edited Apr 9, 2017 7:59am
Quoting Tradingwithw
So nobody aiming for 1.05xx? Or 1.039x? <br> I am...
Looking for this- unfortunately closed all of my trades, and wont be joining more shorts until after the test, however; I would expect a semi bounce there. From there we can decide whether or not 1.039x is feasible.

Dollar continues to be a buy....

Quoting Tradingwithw
{quote} inline/better as expected...dollar continues to be a buy. Watch out below EU...
EU will be a buy closer to the end of the elections, and possibly if Trump can't deliver on his tax promises....good luck guys and gals!
  • #1,102,847
  • Apr 8, 2017 10:48am Apr 8, 2017 10:48am
Quoting CKXnlp3R
{quote} Damn, this is bad. My tp is 10 pips higher than that! I hope it comes back to 58xx region Edit: Wait, it shows the 1.059 on mine? How did you get that 1.056 number?
IF it was to open beyond your tp that would only mean more pips... i.e your broker would have to close at the next best price... which would be market open price
  • #1,102,848
  • Apr 8, 2017 11:03am Apr 8, 2017 11:03am
Quoting Don96
{quote} IF it was to open beyond your tp that would only mean more pips... i.e your broker would have to close at the next best price... which would be market open price
Oh Don, thank you for the clarification! How stupid I am to think they will close me out on my tp level!

OK, please gap DOWN

PS: Was hoping to close my position manually before the market close, but having a 3-hour intense meeting was simply shutting me out from doing anything else
  • #1,102,849
  • Apr 8, 2017 11:12am Apr 8, 2017 11:12am
Hi, it is the first time I forgot to close my possition, so I have a short with TP at 1.058 and Sl at 1.06. Should the price open lower let's say 1.056 my broker will close my position at the opening price or? Or what do you mean by ( the best price)
  • #1,102,850
  • Apr 8, 2017 11:17am Apr 8, 2017 11:17am
Quoting RainBowDash
I just checked XE and EU has thus far gapped down. {image} That doesn't fair well for my GJ short.
Hi! How you got this number 1.056, on xe.com it stands 1.05906...or?
  • #1,102,851
  • Apr 8, 2017 11:18am Apr 8, 2017 11:18am
Quoting Davit
{quote} There is ton of info on the net but simplified version what I use on my thread Pivot trading.You may want to check out.
I find your pivot thread superb. Hope to learn your complex method. I am a silent follower trying to understand your firepower.
Self discipline It is a practice
  • #1,102,852
  • Apr 8, 2017 11:22am Apr 8, 2017 11:22am
Nothing against anybody, But would be nice to see people Posting their Trade before the fact
A good trader follows his rules, but great trader knows when to break them
  • #1,102,853
  • Apr 8, 2017 11:45am Apr 8, 2017 11:45am
Quoting ill_be_back
Nothing against anybody, But would be nice to see people Posting their Trade before the fact
With their charts and the time frames they refer to.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -5.3%
  • #1,102,854
  • Apr 8, 2017 12:02pm Apr 8, 2017 12:02pm
lines and more lines

same all same situation same technique, bit skeptical due to sunday/monday open likely to be right on the very low of Friday

every line HALF +10 and the purple into brown, blue into purple with yellow into the red arrow spot

also longs 1.05394 and 297
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  • #1,102,855
  • Apr 8, 2017 6:58pm Apr 8, 2017 6:58pm
Quoting Fallowme
{quote} Hi! How you got this number 1.056, on xe.com it stands 1.05906...or?
I simple took a snapshot of what I saw at that moment. However, it appears that it has returned back to close. I think 3 hours prior to market open is the best time to see if there is a gap or not.
I'm your unknown friend!
  • #1,102,856
  • Apr 8, 2017 7:21pm Apr 8, 2017 7:21pm
Quoting Teek
Good morning I hope you all have a great weekend. Situation: We have a very interesting close with price sitting on the 78.6% retracement and on top of a very strong Demand Zone and it's first Resistance @1.058x On the weekly chart I can't see any sign of a slowdown. The NFP friday caused a strong short momentum after cleaning out most intraday stops up north, basicly wiping out it's range around the 61.8% retracement and finaly breaking out short, heading for the 78.6%. If this momentum holds, I expect the price going deeper into the Demand zone:...

Very nice to spending your time to do this for new traders!
But for me still many fact in your words since you said about your trade entry or exit at the right point of edges.
We are here would love to see you to post your TE, opening, closed trades when you give out your calls.
Saying something in the past would not prove anything !
So far only Hilmy is cool guy with his TE. I am not saying he is the best (he could be wrong sometimes) but at least his record was showing what he say !!!
Do not wana see someone try to go long or short and when the price moves against his trades then he just keeps adding more and more lots then get off the thread for while and come back then say that he got hedge positions so he was fine. This would kill the new traders. I know that we do not care about their loss but at least we have responsibility with our calls. That is the way to build credit !!!

Thank you for your time anyway!!!
  • #1,102,857
  • Apr 8, 2017 9:24pm Apr 8, 2017 9:24pm
Quoting Angelina
{quote} Very nice to spending your time to do this for new traders! But for me still many fact in your words since you said about your trade entry or exit at the right point of edges. We are here would love to see you to post your TE, opening, closed trades when you give out your calls. Saying something in the past would not prove anything ! So far only Hilmy is cool guy with his TE. I am not saying he is the best (he could be wrong sometimes) but at least his record was showing what he say !!! Do not wana see someone try to go long or short and...
Nice post, I think you should also load a TE yourself(in the name of your healthy challenge vs Hilmy) thanks and good luck to all
  • #1,102,858
  • Apr 8, 2017 10:35pm Apr 8, 2017 10:35pm
Quoting kornrogers
{quote} Nice post, I think you should also load a TE yourself(in the name of your healthy challenge vs Hilmy) thanks and good luck to all
I will post my trade closed(you guys will see it at R/L daily) like the previous one for updating!
That would be enough !!!
  • #1,102,859
  • Apr 8, 2017 10:36pm Apr 8, 2017 10:36pm
Quoting RainBowDash
{quote} I simple took a snapshot of what I saw at that moment. However, it appears that it has returned back to close. I think 3 hours prior to market open is the best time to see if there is a gap or not.
Yes watching it over the weekend in pointless, a couple of hours before may give an idea
  • #1,102,860
  • Apr 9, 2017 2:34am Apr 9, 2017 2:34am
I'll keep it simple, clear solid resistance on the range + Trend is your Friend guys.

I'll sell and sell hard.
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