fib. expansion and retrace in forex
- Thread starter shopster
- Start date
- Status
dude,
actually, 14 flats on the first box.
mt4 works fine for charting and most will find the information posted quite useful.
if you have something positive to add to the actual thread topic of educating the retail trader, please do......
otherwise, move your sorry butt along and annoy others.
s
Here's something helpful for readers -- stop looking for answers in the magical "money line," particularly from someone who has, from what I've seen, only posted charts AFTER the trade has been successful, and though I didn't look at every chart you posted, I have not yet seen a losing trade. What is your win rate, 100%?
This attitude towards risk is not healthy. This sounds like someone who has not learning the meaning of truly accepting risk, perhaps like someone who's trying to give false hope to newbie traders to think that somehow all their trades will be right, and they won't have to learn how to take a loss.
I agree with thales, a real trader, who has actually not only proven countless times by posting real time trades before the order is even filled, but who has also been generous enough to share his expertise by doing, not just talking:
I won't post any further, and I'm sorry if I derailed your thread too much. Happy trading!
dude,
" .....stop looking for answers in the magical "money line,"
price always returns to the money line.......no magic.
just the way it is.....
" This attitude towards risk is not healthy..........."
i expect all traders to "know risk % of equity." this is not a forex basic training thread.
does my stuff work with a high ROI.......you need check it our with your high end charting package.
if you cannot see what i am doing in these trades, then do the homework.
a hat trick from "non farm" friday .........100 plus ticks on the 2 setups.
fib. expansion from a diverged DB .
the money line is the yellow brick road.
not magic.
" keep you trading simple because the market is not that smart....."
shop
p.s. i am Yoda.
" .....stop looking for answers in the magical "money line,"
price always returns to the money line.......no magic.
just the way it is.....
" This attitude towards risk is not healthy..........."
i expect all traders to "know risk % of equity." this is not a forex basic training thread.
does my stuff work with a high ROI.......you need check it our with your high end charting package.
if you cannot see what i am doing in these trades, then do the homework.
a hat trick from "non farm" friday .........100 plus ticks on the 2 setups.
fib. expansion from a diverged DB .
the money line is the yellow brick road.
not magic.
" keep you trading simple because the market is not that smart....."
shop
p.s. i am Yoda.
Quote from shopster:
you need to find another line of work.
shop
On that same thread you pulled that from, you'll find at least a hundred or two other trades that I have posted LIVE as I took them, some good trades, some not.
Maybe I should just post a stale chart from 24 hours ago, like you do, showing what one could have done. Only a physically blind person can't find superb trades on the left side of the chart, already knowing what the right side of the chart looks like.
What you have shown requires no skill. Until you post a few live trades demonstrating some actual skill, you have not yet differentiated yourself from the rest of trading forum guru-wannabe hacks who can only trade the past, not the present.
With 30 years of experience, you should be a trading god, and maybe you are--what I'm saying is that you haven't proven it. Some may say you don't have to prove anything--well you don't, but don't expect anybody except for the naive newbies to just take your word for it. And when you start a thread like this, talking big and baiting newbies looking for the grail, giving "clues" and talking about "money lines", those who have been around the block and seen this stuff over and over again will call your bluff, and ask to see your hand.
dude,
there is nothing to prove.
you and your buddies are doing all the heavy lifting, as a young frustrated blow your wad turk should.
i started this thread to show a setup, nothing more.
and i do not have to qualify anything to you or anyone else.
i am not baiting newbies as " you so call it......"
the private messages from those who " get this setup.... " far outweigh those who want to be spoon fed.
your trading gang obviously have not arrived and your comments show your inner conflicts with the game at hand.
so shove off to another port of call.
bon voyage.
s
there is nothing to prove.
you and your buddies are doing all the heavy lifting, as a young frustrated blow your wad turk should.
i started this thread to show a setup, nothing more.
and i do not have to qualify anything to you or anyone else.
i am not baiting newbies as " you so call it......"
the private messages from those who " get this setup.... " far outweigh those who want to be spoon fed.
your trading gang obviously have not arrived and your comments show your inner conflicts with the game at hand.
so shove off to another port of call.
bon voyage.
s
Classic guru-speak. Anyone who wastes their time seeking the grail here, looking for shortcuts, instead of learning how markets move, has no excuse.
No one wants to hear that it takes work--you want to see the yellow line on the screen, memorize a pattern, click the buy button, come back later and find you've doubled your account. And based on this thread, you are given the impression that if you do this, you will never lose. Not one losing trade posted, or an example where this methodology falls short of its expectation. As the saying goes, if it sounds too good to be true, ...
At any rate, per your request shopster, I will not revisit this thread. Good luck all, and happy trading.
So for example, are you talking about having a DT, then getting a 86% fib retrace to that double top, and entering around there. So for example instead of getting a triple top, you could short around the fib line of 86%, and then have a stop above the price of a possible 3rd top so that if price is respecting the resistance you would not get stopped out.
Then lets assume for example you could target the money line (which I still have not figured out how to create, but I will continue to read the journal from the start, or target a fib expansion level or a support level.
I have seen the standard 76.4% be a stronger fib on ES than the 86 assuming you have a secondary confirmation line, but it could be the time frame I am using. I assume that the secondary confirmation can be a zero lag MACD, but you could also use a specialized stoch or RSI depending on your preference.
Then lets assume for example you could target the money line (which I still have not figured out how to create, but I will continue to read the journal from the start, or target a fib expansion level or a support level.
I have seen the standard 76.4% be a stronger fib on ES than the 86 assuming you have a secondary confirmation line, but it could be the time frame I am using. I assume that the secondary confirmation can be a zero lag MACD, but you could also use a specialized stoch or RSI depending on your preference.
for those who really want to learn to trade live, please head on over to this thread.
this is where the real forex rubber hits the road.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=178741
trading crude oil was the original intent of the thread....
not sure exactly what they do now, but if you sift thru the 4200 plus pages you will get sage trading setups like.........
.......................................................................
" It really boils down to the issue of time. Personally, I don't want to take my eyes off the charts when I have a position on. Moreover, aren't you looking at the same chart as me?
Why do you need me to post a screenie for?
Now I wonder why I didn't take profit at 78.70. I even had two chances!
I definitely didn't want to miss out on the upside reversal, which I still believe will occur. But, no doubt, gree
I think we've about hit the gutter for now. My hunch is that we briefly dip below 80 and then make a U-turn.
i can't even guess where from here...
stay tuned
watch the price action
Damn, CL won't go down without a fight......?
I made icecream and jelly....and neither was it wasn't a figment of my imagination nor a paper/sim exercise....
I can even tell you when I started and finished eating it...bet you can't!!!
looking @ hrly chart and I see bull flag,
W pattern which is bullish
but problem is when to get long.........???
duh.
Hope you folks are cleaning house although the current moves look too damn artificial in my view. The inventory shot up from last week but I figure the price spiked higher for a reason (Thanksgiving effect?). I'm sure there are plenty to be thankful about.
Personally, I'm itching to go short on any weakness come next week.
Until then, rest up..........
Anybody think volatility is going to pick up?
I'm thinking about going long some jan and feb straddles......?
However, Mr Glasenberg painted a positive medium-term outlook, saying that the effects of Chinaâs monetary policy tightening would be shortlived.
âThese are short-term ebbs which we see from time to time,â he said. âWe still believe in the underlying strong fundamentals, with demand continuing to grow in Asia, particularly China and India.â
The company reported net income of $1.3bn for the quarter, up 47 per cent from a year earlier but below expectations. Investors noted that at the current rate, Glencore would miss consensus forecasts of more than $6bn for full-year earnings â although Mr Glasenberg told the Financial Times that higher production would âkick inâ later in the year.
Glencoreâs warning on commodities demand came as Chinaâs central bank raised banksâ reserve requirements for the ninth time in as many months after Chinese inflation hit 5.5 per cent in May â the highest in nearly three years.
Investors have become increasingly concerned that the commodities boom may have sown the seeds of its own destruction as near record prices slow global economic growth and dent demand.
Some fear that Glencoreâs initial public offering may have marked the top of the commodities boom.
Commodity prices have fallen 7 per cent from a peak touched on the day before the company published its listing prospectus in early May.
.......................................
somewhere in all the above jibberish is a concrete setup.
i just am having problems seeing it.....
but i do have some new specs on order.
cheers,
shop
this is where the real forex rubber hits the road.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=178741
trading crude oil was the original intent of the thread....
not sure exactly what they do now, but if you sift thru the 4200 plus pages you will get sage trading setups like.........
.......................................................................
" It really boils down to the issue of time. Personally, I don't want to take my eyes off the charts when I have a position on. Moreover, aren't you looking at the same chart as me?
Why do you need me to post a screenie for?
Now I wonder why I didn't take profit at 78.70. I even had two chances!
I definitely didn't want to miss out on the upside reversal, which I still believe will occur. But, no doubt, gree
I think we've about hit the gutter for now. My hunch is that we briefly dip below 80 and then make a U-turn.
i can't even guess where from here...
stay tuned
watch the price action
Damn, CL won't go down without a fight......?
I made icecream and jelly....and neither was it wasn't a figment of my imagination nor a paper/sim exercise....
I can even tell you when I started and finished eating it...bet you can't!!!
looking @ hrly chart and I see bull flag,
W pattern which is bullish
but problem is when to get long.........???
duh.
Hope you folks are cleaning house although the current moves look too damn artificial in my view. The inventory shot up from last week but I figure the price spiked higher for a reason (Thanksgiving effect?). I'm sure there are plenty to be thankful about.
Personally, I'm itching to go short on any weakness come next week.
Until then, rest up..........
Anybody think volatility is going to pick up?
I'm thinking about going long some jan and feb straddles......?
However, Mr Glasenberg painted a positive medium-term outlook, saying that the effects of Chinaâs monetary policy tightening would be shortlived.
âThese are short-term ebbs which we see from time to time,â he said. âWe still believe in the underlying strong fundamentals, with demand continuing to grow in Asia, particularly China and India.â
The company reported net income of $1.3bn for the quarter, up 47 per cent from a year earlier but below expectations. Investors noted that at the current rate, Glencore would miss consensus forecasts of more than $6bn for full-year earnings â although Mr Glasenberg told the Financial Times that higher production would âkick inâ later in the year.
Glencoreâs warning on commodities demand came as Chinaâs central bank raised banksâ reserve requirements for the ninth time in as many months after Chinese inflation hit 5.5 per cent in May â the highest in nearly three years.
Investors have become increasingly concerned that the commodities boom may have sown the seeds of its own destruction as near record prices slow global economic growth and dent demand.
Some fear that Glencoreâs initial public offering may have marked the top of the commodities boom.
Commodity prices have fallen 7 per cent from a peak touched on the day before the company published its listing prospectus in early May.
.......................................
somewhere in all the above jibberish is a concrete setup.
i just am having problems seeing it.....
but i do have some new specs on order.
cheers,
shop
- Status