FIBONACCI ,,,, are they a myth OR a reality ???????

[nunrgguy]

.

 

[malaguti]

----------------------------------------------------------
Well i agree with so much lines , one is bound to line up ng
BUT , like i said before ,, Hindsight becomes foresight if one sees it often enough , hence this classic on you pound daily chart ,, what I call ,, 1 X 1 X 127 .
Nice and neat and NO lines . cant get much simpler than that
Cheers
George

which is great but you have made up 1x1x my **** after its happened!
what happened when it was it was 1.631 and was retracing then...dont tell me, you weren't trading it..
do us all a favour, post a level in advance and tell us which retracement line its going to hit and you will trade..go on son..I dare ya
Then tell us the "SECRET" of fibonacci

 

[Liquid validity]

I still can't understand the logic in placing more emphasis on fib levels
instead of natural market levels, its not like there is a shortage:

S&R swing high / low,
Big round numbers - only if they are being respected as levels,
and probably the most simple of all - prior and current day high / low,
as well as high / low levels of other days.
Taking it further you can look at volume profile to see the levels with most volume.
They can all be monitored and tracked, its not like you have to actually manually draw them these days.

 

[neil]

Give that man a banana

I still can't understand the logic in placing more emphasis on fib levels
instead of natural market levels, its not like there is a shortage:

S&R swing high / low,
Big round numbers - only if they are being respected as levels,
and probably the most simple of all - prior and current day high / low,
as well as high / low levels of other days.
Taking it further you can look at volume profile to see the levels with most volume.
They can all be monitored and tracked, its not like you have to actually manually draw them these days.

Yep - that sums it up methinks

 

[nunrgguy]

nurngguy - the hungry rat and cheese candle formation (Nisson will be kicking himself for not coining that one) chart: An almost identical setup occurs the day before (previous vertical line) and yet you don't trade that, which is good, as it would have been a lot of risk for little reward. What differentiates the two setups?

Just looked at the chart - do you mean the second day from the left and what looks like a long> Ifit's that - too late in the day from the bottom of that leg. The only trade for me is the short - I think I drew the line on another chart. What's very important to me is not just what the chart looks like days later though - I have to see how momentum occurs live at the time. Depending on how you enter the short's either a reasonable trade or a stop out on the upward spike: if I'm getting on on the hourly basis I'm also looking at the 15 minute chart. Can't say if it was a win or a loss - didn't trade it.

You were right about today's long - clear as day on the 15 minute, just didn't meet my criteria for getting in, I do take the continuation sometimes but the main reason I didn't was it was already moving when I got my lazy carcass in front of the monitor so I didn't see the breakout - the real long entry for me would have been hours before at the bottom but that was what? 2 in the morning or something. Beddy bies It did run very well from London didn't it - trade of the week, it doesn't often run like that and I wasn't in it at all I did exactly the same on EJ last Thursday. Like my sleep too much.

This might help

Too many while I'm asleep for my liking. Moves starting in Asia?? WTF>>???

 

[George A]

which is great but you have made up 1x1x my **** after its happened!
what happened when it was it was 1.631 and was retracing then...dont tell me, you weren't trading it..
do us all a favour, post a level in advance and tell us which retracement line its going to hit and you will trade..go on son..I dare ya
Then tell us the "SECRET" of fibonacci

Malaguti AND Liquid
I do NOT make up anything , and just to satisfy some people's negative outlook , regarding names like 1 X 1 X 127 ,,, I CALL consistent and repeated movements different name ,it is MY name code for them . BUT i dont know why u guys are knocking something that you have NOT done work on , yet YOU ALL have spent countless hours on all other indicators and methodologies , just like i did with fibs .
I will say it again , just like liquid said it in his post and it is written between the lines of his writing , and why would he go through so much details as to what to look for and what works ??? it is because what i want to say here ,, and open ur eyes and read it carefully .
HINDSIGHT BECOMES FORESIGHT IF YOU SEE IT OFTEN ENOUGH .
That is exactly what i read in Liquids reply ,he BELIEVES in his methodology and trusts it BECAUSE he saw things happen so many times that he can NOT doubt them , and it is the same case with me ,,,,,, so read it over and over again , take a step back ,,get off your high horses ,, chill out a little , and dwell on it ,,, give FIBS the time they DESERVE and put in the hard yards ,,,, and maybe bells will start ringing , and lights come on IF u will bother .
Now IF this does NOT start sending signals , i dont what would .
I do NOT knock anyone's methodology , because i do NOT use them ,neither studied them enough , which makes me UN qualified to knock their worthiness . hence knocking them will label me as ignorant . and i say this with all due respect .
Cheers,
George

 

[George A]

Just looked at the chart - do you mean the second day from the left and what looks like a long> Ifit's that - too late in the day from the bottom of that leg. The only trade for me is the short - I think I drew the line on another chart. What's very important to me is not just what the chart looks like days later though - I have to see how momentum occurs live at the time. Depending on how you enter the short's either a reasonable trade or a stop out on the upward spike: if I'm getting on on the hourly basis I'm also looking at the 15 minute chart. Can't say if it was a win or a loss - didn't trade it.

You were right about today's long - clear as day on the 15 minute, just didn't meet my criteria for getting in, I do take the continuation sometimes but the main reason I didn't was it was already moving when I got my lazy carcass in front of the monitor so I didn't see the breakout - the real long entry for me would have been hours before at the bottom but that was what? 2 in the morning or something. Beddy bies It did run very well from London didn't it - trade of the week, it doesn't often run like that and I wasn't in it at all I did exactly the same on EJ last Thursday. Like my sleep too much.

This might help

Too many while I'm asleep for my liking. Moves starting in Asia?? WTF>>???

Great run it was on the old pound ng .
Very Classic well behaved , and orderly move
My first target was 60909 , and 60955, Little disappointed with the retracement at the first target , BUT its understandable with the bullishness it was moving up with after a small retracement after the first leg off the bottom and final target for an extended day like this was 61515 , and 61665 . BUT with major level rally of the run down range in sight at 61739 , had to take it into count , and it can still push up to the 6211 level , BUT it is contenting with the structure lows on the left, BUT i am strong about a nice retracement here , and IF it comes through i would be looking at the 6106 for first stop and then 6066 level .
This is on the short term of course
Cheers

 

[George A]

I still can't understand the logic in placing more emphasis on fib levels
instead of natural market levels, its not like there is a shortage:

S&R swing high / low,
Big round numbers - only if they are being respected as levels,
and probably the most simple of all - prior and current day high / low,
as well as high / low levels of other days.
Taking it further you can look at volume profile to see the levels with most volume.
They can all be monitored and tracked, its not like you have to actually manually draw them these days.

Hello Liquid
I am asked to give the secrets of FIBS .
Well Liquid , here it is and it is there in ur writings , you just have NOT done enough work to see WHY do we get these tops and bottom in relation to fibs . and the secrets are and i am RE QUOTING YOU :::::::::::::::::::::
1 .swing high / low,
2 . probably the most simple of all - prior and current day high / low, ( i say except it is NOT probably ) .
3 . as well as high / low levels of other days. ( extremely important for the bigger picture)
As u can see , they are very simple points , BUT the real secret IS learning through deep research and study the theories as to how THEY MOVE the market TO FIBS .
I rest my case . please read between the lines.
Cheers
George

 

[George A]

Yep - that sums it up methinks :thumbsup Give that man a banana :

Thank u for the nice gesture neil .
You guys speak like old veterans , which undoubtedly are , and i respect all of your knowledge and experience , BUT do NOT underestimate what you do NOT know , i am an old veteran of life also , and no spring chicken .
Cheers
George

 

[neil]

Thank u for the nice gesture neil .
You guys speak like old veterans , which undoubtedly are , and i respect all of your knowledge and experience , BUT do NOT underestimate what you do NOT know , i am an old veteran of life also , and no spring chicken .
Cheers
George

You're welcome George. Keep posting since all debate, for or against, is welcome and appreciated.

 

[nunrgguy]

Holy cow!
Live trades

Oh p00.! In my rush to post for forum big ups I've entered early. The runes will decide.

 

[nunrgguy]

So.. anyway...George.
What broker would you recommend? What do you reckon to FXCM?

 

[nunrgguy]

Closed for a huge loss of 4 pips. Maybe fibs might have helped me?

 

[nunrgguy]

Great run it was on the old pound ng .
Very Classic well behaved , and orderly move
My first target was 60909 , and 60955, Little disappointed with the retracement at the first target , BUT its understandable with the bullishness it was moving up with after a small retracement after the first leg off the bottom and final target for an extended day like this was 61515 , and 61665 . BUT with major level rally of the run down range in sight at 61739 , had to take it into count , and it can still push up to the 6211 level , BUT it is contenting with the structure lows on the left, BUT i am strong about a nice retracement here , and IF it comes through i would be looking at the 6106 for first stop and then 6066 level .
This is on the short term of course
Cheers

It wasn't well behaved. As it started at what? 2AM in the morning, no-one in the UK timezones in their right mind traded it

 

[George A]

So.. anyway...George.
What broker would you recommend? What do you reckon to FXCM?

Firstly a very good morning to u ng.
With the pound opinion i expressed , i think my eyes are giving away on me in my mature age hahahahaha .. still not 60 yet though ,, only few moons short .
I said it could push up to 6211 BUT the correct level was 62145 , and although it did push to 62249 , the bull candle did close at 62139 and the open of the next candle was 62140 .
The other thing i would be watching for is , IF we look at the 16th , we see the market putting in a 2 bar rally to finish the day and then a 6 hour consolidation period , giving us a base range to work from , now if we take that rally range and use it from the low of the 17th( looking for harmony ) , we see the market rallied double the size of that range( what i call 200% repeat extension ) giving us the mid high OR what i call center point .
Now IF the market is going to run harmonically , then we have a target to watch for , a repeat of that range from the low after the mid point (next swing low ), which will give us a target of 62162 .
These are the basic foundations of fibs ng .
BUt the market action of the 18th(yesterday ) , that is another story as it gets deeper into fib technicals , which i will not go into , BUT if u zoom into a 15 mnt chart , u will see a similar picture as the 1 hour chart for the 17th . and agin it was perfectly balanced day.
sorry to bore u with this BUT i wanted to clarify my call and mistake ( that damn middle old age thing hahahaha) . fftopic:
FXCM ,,,,
No i do NOT use their platform although about 18 months ago or so i did downloaded BUT maybe because i got used to the mt4 , i found it NOT as user friendly , and felt one needs to work for the platform rather than the platform serve me , BUT that could also be due to MY laziness and not putting in the time to learn it , so i can not say it was not good , BUT it did not SEEM to serve me with what i am used to , but i feel they are a great broker , and of course they are in Australia also , as i do NOT like using brokers outside the country for money safety purposes .
Wishing u a great dya/evening , where ever u r in this wonderful world of our .
Cheers,
George

 

[George A]

It wasn't well behaved. As it started at what? 2AM in the morning, no-one in the UK timezones in their right mind traded it

You must have been typing this reply while i was typing mine , except breakfast was ready ( yes brown rice everyday , which takes 1 hour to cook ) . and had to stop .
Yes i agree with u on the time factor as i miss alot of trades due to time , i can NOT go to bed late due to my sensitive eyes , 10 - 10.30 is my usual , and anything after 11 i can NOT sleep well .
The US market nowdays opens at 11.30 pm Sydney time , which is a killer for me .
Europe is the best place for me . and thats why i am planning to start spending 6 months of the year somewhere there , Croatia coast OR Athens , cause i love the Mediterranean , as i grew up there till i was 16 , which was many many moons ago ng hahahaha , but its a great place just like london where one can catch ALL markets during the day .
Cheers ,
George

 

[George A]

Closed for a huge loss of 4 pips. Maybe fibs might have helped me?

Hahahahahaha , good one ,
BUT i gues IF u did use them , often u r in within.2 to 2 pips off tops and bottoms depending on the spread , which would not have touched ur 4 pip stop loss
hahahahahhaa.
Have fun
Cheers
George