He was looking at February live cow meat. Now he is looking at April, per latest chart since the futures flipped to April.
Meat. MEAT!
Fibonacci Fans!
- Thread starter easymon1
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He was looking at February live cow meat. Now he is looking at April, per latest chart since the futures flipped to April.
Meat. MEAT!
Good eye Overnight. In response to the thread below, the daily chart was loaded. Got Feb and didn't want to remake it, lol.
The intraday was rolled forward before marked up.
LE is one of your special interest products, no?
If you are directing that question to me (not sure because you also have a @long quote in there), it is of special interest only because I find the meat category fascinating, and how weather and feed costs and transport and all that affect futures prices.
What I did NOT expect was for LE prices to have that general rise to levels I have never seen before in my time following the meats. Wow, 160 per CWT? Oy!
One of the drawbacks of fibs imho is the possibility for subjective placement of anchor points.
If mechanization of this aspect of the technique is solved by the chart platform you are using, how is the program instructed on where to anchor each individual fib point? How is the blue zig zag line plotted?
"One of the drawbacks of fibs imho is the possibility for subjective placement of anchor points."
ANSWER: True this is why most do not Benefit, from the use of Fibonacci patterns and retracements. In other words the choice of "anchor points" as you have noted.
This should not be an arbitrary choice by the Trader but a well-defined rule base system which most Fibonacci users are not well schooled or trained by experts to Define the consistently proper "anchor points". The data points that are used in the automated chart which I posted are proven and tested — to provide consistent profitable results. Why reinvent the use of Fibonacci to supply Market Structure and tradable patterns — When these ratios, anchor points, as well as trade alerts are provided by REAL Experts -- not someone who is a wannabe Fib Guru -- trying to profit from his/her plagiarized system. My mentor, years ago, pointed out that there were really no New Trading Systems -- just rehashes of systems used 30 or more years ago and now sold under other names, but really the same system. (Another way of putting it: "Why go out to a restaurant to get a meal, when you already have a great one on the table at home?" )
The chart shown uses the Anchor Points as prepared by the absolute Expert "Fib Guru" Proven for over 50 years in use.
Program identifies the Anchor Points by identifying entry and exit points and then even supplies Alerts to enter and exit trades based on the Fractals produced by the projection of the trade duration. (I note that many who post charts with Fib drawings have no understanding of how and why the Fib Ratios and patterns work -- in fact many are using the wrong ratios. Not my opinion -- just following what the Expert Chart presentation using the automatically selected drawing points ("anchor points") Back-test, Forward Test for a lots of market volatilizes and time-frames and then once you are a "Believer" then start trading. Re: "Blue Zig-Zag line" is based on Market Maker Moves again programed with defined ratios that conform with the ratios. A free PDF copy of the system is available online for download.
ANSWER: True this is why most do not Benefit, from the use of Fibonacci patterns and retracements. In other words the choice of "anchor points" as you have noted.
This should not be an arbitrary choice by the Trader but a well-defined rule base system which most Fibonacci users are not well schooled or trained by experts to Define the consistently proper "anchor points". The data points that are used in the automated chart which I posted are proven and tested — to provide consistent profitable results. Why reinvent the use of Fibonacci to supply Market Structure and tradable patterns — When these ratios, anchor points, as well as trade alerts are provided by REAL Experts -- not someone who is a wannabe Fib Guru -- trying to profit from his/her plagiarized system. My mentor, years ago, pointed out that there were really no New Trading Systems -- just rehashes of systems used 30 or more years ago and now sold under other names, but really the same system. (Another way of putting it: "Why go out to a restaurant to get a meal, when you already have a great one on the table at home?" )
The chart shown uses the Anchor Points as prepared by the absolute Expert "Fib Guru" Proven for over 50 years in use.
Program identifies the Anchor Points by identifying entry and exit points and then even supplies Alerts to enter and exit trades based on the Fractals produced by the projection of the trade duration. (I note that many who post charts with Fib drawings have no understanding of how and why the Fib Ratios and patterns work -- in fact many are using the wrong ratios. Not my opinion -- just following what the Expert Chart presentation using the automatically selected drawing points ("anchor points") Back-test, Forward Test for a lots of market volatilizes and time-frames and then once you are a "Believer" then start trading. Re: "Blue Zig-Zag line" is based on Market Maker Moves again programed with defined ratios that conform with the ratios. A free PDF copy of the system is available online for download.
Did you have to click points on the chart to manually apply tools the platform used to produce the chart in post#64?
I believe the drawback you are referring to is down to the time frame you are trading, the anchor points =high- Low as you call them would be different on the hourly chart than i would take on the 5 Minute chart.