Search results

The extension grid defines and projects fib targets. We may be a bit lost in semantics here.

See my above post related to the chart. The second grid is fib extension, which is used to project targets.

You can see the grid drawn from the high of the morning to the low. As I have stated I don't use fib numbers for retracements as too many good entries fall outside the .312 and .618, 50% is not a fib number but it is the sweet spot (One could earn a nice living trading nothing but 50%...

Periods of high volatility are where the serious money is made. As in all environments, it requires patience, skill and discipline. Potential risks are higher on a given trade but commensurate with potential reward. 2008 was a relatively short lived crash, look to 2000-2001 for a closer likely...

:D

Most critics will not bother to do the work but David Halsey's Trading the Measured Move is a good starting point to understand the why and where. Traders, including myself are likely to make adjustment to Halsey's trade play with respect to time frames, zones and trade management according to...

There is more than one way to trade...who knew :cool:

Then I suggest not doing it Mickey. Who wants to be broke :D

If you want to be among the 10%, don't expect the other 90% to understand.

Had to log out to see who you were responding to, I had that clown on ignore.

If he is paying you to pimp, you need to give Baron his tithe. BTW, knowing where price is likely to go is part of being a trader. NO ONE knows for certain where it goes.

Right the bear flags all day long are incidental :rolleyes::confused:

I've heard the phenonium referred to on this very site as "random magic" by a frequent "contributor" :D

I have no control over where they fire or where they don't. My trade plan and it's setups are based on my own observations, experience and testing as should be the case with every trader.

Fred I trade the fucking things every day.

Fib levels are more effective as projection targets than they are in retracement zones which tend to be more elastic. They are effective as targets not because of sea shells or pyramid construction but because institutional algo's fire at those levels, targets, counter trend HFT algo's etc.. As...

Yes, actually knowing what you are doing can be very helpful. Of course that requires a lot of study, observation and testing and who wants to do that when you can just listen to some guy on the internet :D

The daily chart triggered a bear flag in a bear market. There are any number of downside targets based on one's trade plan.

Yes for the ES, shorts tend to be a little quicker acting, fear being more powerful than greed maybe and longs tend to require a few more second entries. Any developing trader should be encouraged to become familiar with the characteristics of any market they want to trade. They indeed each have...