fib. expansion and retrace in forex

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You get a whip and I'll get a saw honey...baby...We ride the trend to the end...one good trend pays for them all...and so on...

HeHe

ES

Quote from shopster:

ED Seykota
the lad is a futures trader, but the same rules apply to all markets.....

" Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money......."

" It can be very expensive to try to convince the markets you are right......"

" Trend following is an exercise in observing and responding to the ever-present moment of now...."

" If you can't take a small loss, sooner or later you will take the mother of all losses......."

http://www.youtube.com/watch?v=LiE1VgWdcQM



my setups are based on the last two quotes.

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More...
 
Quote from shopster:

shop trades are harmonic setups.
.......................................................


you need to be in " total harmony " with the dealer.

he flashes " a pair of ladies......" , you know immediately what 2 do.


s
 
In your trading rules it states......

"I trade to be on the winning side and to make a positive ROI on each and every trade".

..........Period.

...........................................

from time to time, the dealer tosses you " a joker..."

hence , your butt covering stop comes into play.

s

:cool:
 
Quote from James:

How often are there double bottom and double tops though?

..................................

Quote from ElectricSavant:

Remember...he uses range bars.

ES
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all day , every day, even on sundays.......:)

s
 
Here is my first project for shop class.

Short the AUDNZD based on hourly divergence DT which is also divergent on the daily chart as well. Targets are shop based fib levels but I took the fib tool off to see better.
 

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At the outset of a trade what size s/l do you use? At what point and how big do you start to use a trail, when it hits the money line?
 
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I hope you will help me out with this. You trade the smaller t/f and for example right now the eur/usd, according to the fibs, the 5m t/f is short from 1.4245 to the money line 89 to 1.4094. The 4hr t/f is bullish from 1.40379 to the moneyline 89 at 1.4370 which is also 61% fib.

How does one trade the 5m t/f as indicated given the higher timeframe is bullish? I recall you saying this works on any timeframe, are we saying that whilst the 4hr will complete it's journey eventually, in the meantime the 5m t/f will also and your moneylines will nearly always hit regardless and within their timeframe.

Also, why do you trade the 3/5m t/f what are your reasons.
 
Hi there,

i have a question to you fibonacci traders.

Will your fibonacci analysis still work when you use another scale on your charts, for example put or pull the chart in the price side together or wider. Arent then the fibonacci lines on different price levels ???

I never understood that stuff, because of the reason i described above.

Proof me the oposite !!!
i wait:)
 
Quote from HATEtheRisk:

Hi there,

i have a question to you fibonacci traders.

Will your fibonacci analysis still work when you use another scale on your charts, for example put or pull the chart in the price side together or wider. Arent then the fibonacci lines on different price levels ???

I never understood that stuff, because of the reason i described above.

Proof me the oposite !!!
i wait:)
More...

scale your chart with the fib tool on it

horiz. or vert. scale ............pushed or pulled
it makes no diff.

3 pics attached.............
all the same chart and setup

s
 

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