Fun with Fibbonacci Revisited

Breakout,

Thanks for mentioning that article, I wrote it and the spreadsheet as well as the articles and spreadsheets for the April and July issues of Futures mag. If anyone needs further info or help with them, let me know.

Bruce:p
 
Quote from wally_:



That's the basic idea behind the 61.8% pullback within the first 30 min bar but in reverse, meaning that if the 61.8% level holds you get another strong shot in the original direction, the direction opposite to the pullback direction. Works like magic even if it occurs rather infrequently. On 12/3 it occured twice the same day, though. In November it occured 8 times. 5-6 pts each time, with 2.0-2.5 pt initial stop-losses. I am talking about ES.
More...

I've been playing with Fib numbers for the last couple of days just out of interest and to give me something to do.

If you look at the cash market, the picture is very much clearer, and the charts are much less cluttered. Also there is less overshoot.

I've noticed many times that getting direction for the ES and NQ from the cash indices is much easier, not to mention targetting levels...

Natalie
 
Quote from Breakout:

A couple of nice 38.2's and a 61.8 this morning.
More...
what's it mean when that little blue line goes yellow? Does it always give good buy signals? Or was that just today?
 
Quote from profitseer:

what's it mean when that little blue line goes yellow? Does it always give good buy signals? Or was that just today?
More...

Hey profitseer...that's a little indicator elite member "Ditch" gave
me. Pretty cool, huh? :cool: It's VERY good at helping to
spot retracements in a trending market. Much better than just
running 2 moving averages. IMHO

Using this, combined with Fibb levels of 38.2 and 61.8 have
gotten my attention of late. Right now, I'm trying to refine the
entry strategy. Buy on the way down? Buy on penetration of
the channel? (my favorite, so far) or maybe wait for a certain
% to retrace in the direction of the trend and jump on board?

If you have Ensign, PM Ditch and I'm sure he'll send you a copy
of his template.
 
You must log in or register to reply here.
Back
Top