fibonacci trading system
- Thread starter Ghostpips
- Start date
FIb.
Hello again guys, hope your tradings are fine, plz be carefull in you prositions, it is not easy game.
Dear SELF4, i am sorry if my english was not good yesterday while i was explaining about my system. I would like to attach file,it is the chart with explanation of my system, but unfortunately it is 200KB, and i can not attach them here, can you help me, how can i attach it or where can i upload it so that you can check it, thank you. I have the pictures GBP/JPY and AUD/NZD, my system of using fib.
Dear Bond777. I checked your system, which i liked it very much. To tell u the truth, i also use sometimes the same stoch system. But 90% of my tradings are only when a failur occurs or breaking of support or resistance. untill now i have found these systems very succesfull, and beleive me, i have tried all other systems, i found these best. For example, yesterday euro failed at 1.4067, (yesterday's low) it is 23% fib, between 1.3360-1.4285 and a break is a selling signle, and euro wil go towards 38% which is 1.3930. if again failed, this time it is buying signal.
Plz be carefull for today's non farm payroll, it hurts the market. good trading
Hello again guys, hope your tradings are fine, plz be carefull in you prositions, it is not easy game.
Dear SELF4, i am sorry if my english was not good yesterday while i was explaining about my system. I would like to attach file,it is the chart with explanation of my system, but unfortunately it is 200KB, and i can not attach them here, can you help me, how can i attach it or where can i upload it so that you can check it, thank you. I have the pictures GBP/JPY and AUD/NZD, my system of using fib.
Dear Bond777. I checked your system, which i liked it very much. To tell u the truth, i also use sometimes the same stoch system. But 90% of my tradings are only when a failur occurs or breaking of support or resistance. untill now i have found these systems very succesfull, and beleive me, i have tried all other systems, i found these best. For example, yesterday euro failed at 1.4067, (yesterday's low) it is 23% fib, between 1.3360-1.4285 and a break is a selling signle, and euro wil go towards 38% which is 1.3930. if again failed, this time it is buying signal.
Plz be carefull for today's non farm payroll, it hurts the market. good trading
[/QUOTE]Yes. I can.
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Thank you so much nice chart but I am newbie, I have difficult understand what exactly you do, it's look like STO but I don't know in what case you buy and sale.
Can you please little bit explanation?
Thank you so much I realy appreciate
Nagen
[/QUOTE]Thank you so much nice chart but I am newbie, I have difficult understand what exactly you do, it's look like STO but I don't know in what case you buy and sale.
Can you please little bit explanation?
Thank you so much I realy appreciate
Nagen
hey nagen, i cant not explain what i do, it takes whole year, but i can give you some hints the way i trade in fibo.
for example, if u remeber, in my first post, i wrote that GBP/JPY will go to its 62% fib, while the price was 237.00, and look at the price today, u will c that it has reached to its 62%. (238.90) between 251.1 - 219.27
about, usd/jpy, if u look at its daily chart, you will see that it has failed 5-6 times at its 38% fib between 124.13 - 111.57, so yesterday, with NFP, it broke this fib,, so which means it will go to 50% and 62%.
this is the way fib works. not everybreak is a buy signal, there must be a failur to eneter a position, without failur i dont enter.
for example, if u remeber, in my first post, i wrote that GBP/JPY will go to its 62% fib, while the price was 237.00, and look at the price today, u will c that it has reached to its 62%. (238.90) between 251.1 - 219.27
about, usd/jpy, if u look at its daily chart, you will see that it has failed 5-6 times at its 38% fib between 124.13 - 111.57, so yesterday, with NFP, it broke this fib,, so which means it will go to 50% and 62%.
this is the way fib works. not everybreak is a buy signal, there must be a failur to eneter a position, without failur i dont enter.
Hi
I'm hoping Bond777 comes back. He has a wealth of newbies clamoring to understand his chart a little better. Myself included.
Bond777, thank you for the chart. I have put some questions below that should clear up the confusion for me and other newbies.
1> Can you please give us a run down on exactly how to reproduce your graph? What indicators and oscillators did you use with what settings (periods and so on)?
2> You were using a 4 hour chart. Do you recommend any different time frames? Do you typically use this system for long or short term trading?
I started trying to reproduce your chart but got stuck. .... I suspect the red lines are trend lines drawn on manually but is the thick blue line a moving average? If so what parameters? Are the thin blue lines are bollenger bands? What oscillators are used below the chart?
Thank you again for sharing this system. I hope you don't mind clarifying it enough for us newbies to make more sense of it.
Regards,
Matt
I'm hoping Bond777 comes back. He has a wealth of newbies clamoring to understand his chart a little better. Myself included.
Bond777, thank you for the chart. I have put some questions below that should clear up the confusion for me and other newbies.
1> Can you please give us a run down on exactly how to reproduce your graph? What indicators and oscillators did you use with what settings (periods and so on)?
2> You were using a 4 hour chart. Do you recommend any different time frames? Do you typically use this system for long or short term trading?
I started trying to reproduce your chart but got stuck. .... I suspect the red lines are trend lines drawn on manually but is the thick blue line a moving average? If so what parameters? Are the thin blue lines are bollenger bands? What oscillators are used below the chart?
Thank you again for sharing this system. I hope you don't mind clarifying it enough for us newbies to make more sense of it.
Regards,
Matt
Krazydiamond
Recruit
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Great info...thank you for sharing this.
Total Market Analysis
hello uk trader i went through the book and i will say it is very insrtuctive.i will advise any body that wants to include fibonacci in their trading system to read it.
More importantly i like to state for the benefits of newbies to forex that you dont trade fibonacci alone.it is wiser to alway include other indicators such as stochastic or preferably RSI putting into consideration the support and resistance points.
Lastly it is important to emphasize the imporance of total anaysis.the reason why most trading system fail is because the dont take into consideration the fundamental factors which are far the most important factor that affect the market.So whatever trading system you,ve got you must learn to understand the effect of the fundamental factors that affect the currency pairs you are trading.This i call total mkt analysis.Without first understanding total market analysis their can not be long term success in forex trading
hello uk trader i went through the book and i will say it is very insrtuctive.i will advise any body that wants to include fibonacci in their trading system to read it.
More importantly i like to state for the benefits of newbies to forex that you dont trade fibonacci alone.it is wiser to alway include other indicators such as stochastic or preferably RSI putting into consideration the support and resistance points.
Lastly it is important to emphasize the imporance of total anaysis.the reason why most trading system fail is because the dont take into consideration the fundamental factors which are far the most important factor that affect the market.So whatever trading system you,ve got you must learn to understand the effect of the fundamental factors that affect the currency pairs you are trading.This i call total mkt analysis.Without first understanding total market analysis their can not be long term success in forex trading
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