trendie
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About 20 mins to go, but it appears that todays Dow will not breach last Fridays low.
Does this make last Fridays LOW of 9793 is a Pivot LOW ?
Does this mean that the market will now start a short retracement UPwards ?
Mind you, today is a INSIDE-day, and perhaps should not be counted ?
I am out of the market, waiting to enter on a SHORT, ( back into the main trend )
How are you guys doing ?
Does this make last Fridays LOW of 9793 is a Pivot LOW ?
Does this mean that the market will now start a short retracement UPwards ?
Mind you, today is a INSIDE-day, and perhaps should not be counted ?
I am out of the market, waiting to enter on a SHORT, ( back into the main trend )
How are you guys doing ?
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Hi all,
If you can call up a one day - 30 minute chart for today is that not a double top
formation ?????
RD.
ps. first high = 9858 2nd high = 9856
Also, neither the day's High/Low/ Close don't appear, in my retracement calculations,
to be near any Fib retracement , therefore no support ?.
Stroll on - the market can really make a person look a right t*t
If you can call up a one day - 30 minute chart for today is that not a double top
formation ?????
RD.
ps. first high = 9858 2nd high = 9856
Also, neither the day's High/Low/ Close don't appear, in my retracement calculations,
to be near any Fib retracement , therefore no support ?.
Stroll on - the market can really make a person look a right t*t
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trendie
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Hi Pervaz,
Where do you see the key points for the Gartley ? I cant see them !
Where is your "AX" line ?
thanks
PS: I am still out of the market waiting for a SHORT entry.
The Dow appears, to me, to be doing its usual 3-day reversal. I am anticipating another PIVOT-HIGH to trigger a SHORT.
PPS: What is your position? Are you waiting for it to hit 9681 or 9640 to ENTER the market, or are you already in waiting to get out ?
Where do you see the key points for the Gartley ? I cant see them !
Where is your "AX" line ?
thanks
PS: I am still out of the market waiting for a SHORT entry.
The Dow appears, to me, to be doing its usual 3-day reversal. I am anticipating another PIVOT-HIGH to trigger a SHORT.
PPS: What is your position? Are you waiting for it to hit 9681 or 9640 to ENTER the market, or are you already in waiting to get out ?
Trendie,
I had 4 fibs
a) 9995 @ 0.78%
b) 9862 @ 1.00%
c) 9780 @ 1.00% (as a projection)
d) 9693 @ 1.27%
on the 5/8 it broke a) on the 6th it broke b) but didnt hit c) and on the 9th it stayed between b) and c) . On the 10th it broke b) and with it closer higher than it opened I went long.
P
I had 4 fibs
a) 9995 @ 0.78%
b) 9862 @ 1.00%
c) 9780 @ 1.00% (as a projection)
d) 9693 @ 1.27%
on the 5/8 it broke a) on the 6th it broke b) but didnt hit c) and on the 9th it stayed between b) and c) . On the 10th it broke b) and with it closer higher than it opened I went long.
P
AlexAndrews
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Guys, I see that nobody has been able to offer any justifications into the validity of this system that I questioned a few days ago, so it just looks like playing with arbitrary numbers to me. I'll leave you to it.
All the best,
Alex
All the best,
Alex
trendie
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Hi Alex,
There is no single expert on this thread. We are just bouncing ideas off each other.
At some point, we veered into Gann and stuff.
Nobody is going to come up with a all-singing-and-dancing solution in a matter of days.
( Personally, I am a swing-trader, but I am interested to see if I can maximise my profits by taking the Fibs as better entry-points, and/or exit-points ).
This thread is a "all-are-equal" thread. Your input and views are welcomed.
My interest in starting this thread, is to see if little nuggets from everyone can be amalgamted into a new system. ( some of us may be good at spotting entry-points, but lose too much on exits.
Some may be good at exit points, but miss good entry points. Some may have a clever money-management system. )
By exchanging ideas, we may help to improve each others trading.
If you were looking for a "I'll just sit here and you tell me the secrets of the universe" approach, this isnt for you. But is you have a germ of an idea, and would like to offer ideas, and see where it leads us, this may prove fruitful.
But I hope you will stay.
PS: My postings are swing-trading related - I thought I was clear as to my reasons for entry and exits. ( I made references to pivot-highs and lows - so these are not random numbers).
Pervaz has also posted his views, and explained where he got his Fib-ratios from.
So these are not arbitrary numbers.
There is no single expert on this thread. We are just bouncing ideas off each other.
At some point, we veered into Gann and stuff.
Nobody is going to come up with a all-singing-and-dancing solution in a matter of days.
( Personally, I am a swing-trader, but I am interested to see if I can maximise my profits by taking the Fibs as better entry-points, and/or exit-points ).
This thread is a "all-are-equal" thread. Your input and views are welcomed.
My interest in starting this thread, is to see if little nuggets from everyone can be amalgamted into a new system. ( some of us may be good at spotting entry-points, but lose too much on exits.
Some may be good at exit points, but miss good entry points. Some may have a clever money-management system. )
By exchanging ideas, we may help to improve each others trading.
If you were looking for a "I'll just sit here and you tell me the secrets of the universe" approach, this isnt for you. But is you have a germ of an idea, and would like to offer ideas, and see where it leads us, this may prove fruitful.
But I hope you will stay.
PS: My postings are swing-trading related - I thought I was clear as to my reasons for entry and exits. ( I made references to pivot-highs and lows - so these are not random numbers).
Pervaz has also posted his views, and explained where he got his Fib-ratios from.
So these are not arbitrary numbers.
trendie
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Pervaz,
At the moment, I dont confirm pivots. Obviously, as a beginner, I want to start with the basics, and see if additional analysis improves my hit-rate.
I am trying to see if pivots combined with Fib-ratios gives me a better hit-rate.
PS: I will get home from work today around 3pm, so I will respond to your mornings request from home.
At the moment, I dont confirm pivots. Obviously, as a beginner, I want to start with the basics, and see if additional analysis improves my hit-rate.
I am trying to see if pivots combined with Fib-ratios gives me a better hit-rate.
PS: I will get home from work today around 3pm, so I will respond to your mornings request from home.
trendie
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Hi All,
Is 127% a Fib-ratio ?
I thought it was the SQRT of 1.618.
I ask because I asked Updata why 127 doesnt show on my charts, and they have replied with:
"We have never heard of a 127% fibonacci ratio. We believe there is not such ratio. Perhaps you can elaborate."
:?:
Is 127% a Fib-ratio ?
I thought it was the SQRT of 1.618.
I ask because I asked Updata why 127 doesnt show on my charts, and they have replied with:
"We have never heard of a 127% fibonacci ratio. We believe there is not such ratio. Perhaps you can elaborate."
:?:
AlexAndrews
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trendie, Pervaz:
I'm not looking for an all-singing all-dancing fool-proof system, but I was interested in the idea put forward about (sqrt(P) + 1/2) ^2 etc (P = pivot point) to indentify next support/resistance levels. But I raised a point about its validity which wasn't answered, so I personally don't think it has any merit. I do, however, think standard Fib calculations do.
Regards,
Alex
I'm not looking for an all-singing all-dancing fool-proof system, but I was interested in the idea put forward about (sqrt(P) + 1/2) ^2 etc (P = pivot point) to indentify next support/resistance levels. But I raised a point about its validity which wasn't answered, so I personally don't think it has any merit. I do, however, think standard Fib calculations do.
Regards,
Alex
trendie
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Alex,
The calculation comes from Gann. It was just an idea that was thrown in.
The only way to prove it, is to test it over the next few weeks / months and see.
( I personally find back-testing tedious, so I prefer to do side-calculations in real-time. It makes it feel more "real" ).
You dont think it has merit. That is a valid opinion.
Please advocate an approach, and post real-time trades. That way we can see the merits unfold.
I personally am not convinced of Fibs. My personal opinion is that Fibonacci retracements are a more structured form of swing-trading !!
( Fibs use predermined ratios to predict turning points. I use the more flexible swing-trading pivots to determine turning points. See how similar they are ? )
I am interested in experimenting with ideas. With the experiences of other traders I am learning a lot.
There is nothing wrong in you rejecting an dea, Alex. But do it because you can prove it through evidence.
Dont reject an idea because a small number of people didnt reply to you !!
There may be many more people too busy making money to bother replying to you !!
Please feel free to put forward ideas. You will find us a supportive bunch ( most times )
Good trading.
PS: still swing-trading. out of the market. waiting for a pivot-high to re-enter into the main-trend.
The calculation comes from Gann. It was just an idea that was thrown in.
The only way to prove it, is to test it over the next few weeks / months and see.
( I personally find back-testing tedious, so I prefer to do side-calculations in real-time. It makes it feel more "real" ).
You dont think it has merit. That is a valid opinion.
Please advocate an approach, and post real-time trades. That way we can see the merits unfold.
I personally am not convinced of Fibs. My personal opinion is that Fibonacci retracements are a more structured form of swing-trading !!
( Fibs use predermined ratios to predict turning points. I use the more flexible swing-trading pivots to determine turning points. See how similar they are ? )
I am interested in experimenting with ideas. With the experiences of other traders I am learning a lot.
There is nothing wrong in you rejecting an dea, Alex. But do it because you can prove it through evidence.
Dont reject an idea because a small number of people didnt reply to you !!
There may be many more people too busy making money to bother replying to you !!
Please feel free to put forward ideas. You will find us a supportive bunch ( most times )
Good trading.
PS: still swing-trading. out of the market. waiting for a pivot-high to re-enter into the main-trend.
trendie
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Pervaz,
you must be happy with your long position, ( 100+ yesterday ).
What is your stop-loss ? ( taking profits ? )
Looking at the chart, today, with a peak at around 10,025, and falling back, I am inclined to anticipate a PIVOT-HIGH, and go SHORT.
This could be my emotions, as I am quite impatient to get back into a trade !
I would initiate a SHORT now, at 9950.
However, there have not been 3 days of rises, but as I say, this is an anticipation.
Stop-Loss at 10075.
you must be happy with your long position, ( 100+ yesterday ).
What is your stop-loss ? ( taking profits ? )
Looking at the chart, today, with a peak at around 10,025, and falling back, I am inclined to anticipate a PIVOT-HIGH, and go SHORT.
This could be my emotions, as I am quite impatient to get back into a trade !
I would initiate a SHORT now, at 9950.
However, there have not been 3 days of rises, but as I say, this is an anticipation.
Stop-Loss at 10075.
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