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Fibs 101

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This topic contains 1,477 replies, has 59 voices, and was last updated by Moaied Suhail moaied suhail 1 day, 3 hours ago.

Viewing 40 posts - 81 through 120 (of 1,478 total)
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  • #35529
    Frank Grof
    Frank Grof
    Spectator
    • Topics: 0
    • Replies: 9

    So my pictures with fibo plotting again. Sorry for confusions.

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    #35599
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Frank, I do fibs differently, so I can’t be much help to you.

    Love the simplicity of your charts though – great job.

    #35600
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Ambrose, if you are talking about the aud/nzd chart, then ignore the first swing….it’s D extension was already achieved.

    cheers

    #35601
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Ivo, here is my take on aud/cad.

    Actually its a good example of fib confluences.

    Definately no shorts on this chart because of that support level, and I think we need a pennant breakout.

    cheers

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    #35604
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    monthly chart:

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    #35609
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Aud/jpy – my bias for further up moves supported by monthly and daily

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    #35612
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Aussie

    cheers

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    #35624
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    Hi Raj,
    Your attached post was my expectation. Thank you.
    If possible, please mention which TF and from where you expect to go long as described above aud pairs.

    #35637
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 363

    Thanks for the analysis Raj.

    #35644
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Azharul, on aud/cad and aud/jpy keep watching those daily charts where you have the latest AB swings…we want a bullish CF at either 382, 50 or 618 fib levels in order to go long. on the aud/usd 4hr chart, I’m hoping market will come down to the 618 and trend line and give us something to go long on.

    #35651
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    Hi Raj,
    It is crystal clear now. I am so happy with your prompt response and sorry to bother you. As a novice trader, I shall come to you in frequent and hope will be always helpful for me and as well as for others.
    Thank you a lot.

    #35653
    Moaied Suhail
    moaied suhail
    Participant
    • Topics: 1
    • Replies: 539

    Hi folks. I would like to get an advice from experienced trader (traders). I added some pictures where I tried to plot a Fibonaci lines on the chart. Please can you judge them, whether I plotted fibo lines in a correct way?
    Thank you.

    hello Frank Grof

    the fibo 1 and 2 correct, but fibo 3 you cant take it from present CS to previous CS if you are looking for uptrend fibonacci lines, you can drew your fibo from the inverted umbrella CS in the red circle to the 0.000 fibo in your chart.

    or take your fibo from the start of the trend (the red inverted ice candel in the first green circle) to the end of the trend all so to the 0.000 fibo in your chart.

    good day to all

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    #35666
    Himanshu Sahai
    Himanshu Sahai
    Spectator
    • Topics: 0
    • Replies: 10

    Hi Raj

    Check out GBP/CHF daily chart below.It reacts to resistance line and also 86 retracement level.Now it forms a gravestone doji at 78.6 retracement level.So it should go down for 118 or 127 level.What are your views?

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    #35674
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    230 pip stop and at MBB?

    #35675
    Himanshu Sahai
    Himanshu Sahai
    Spectator
    • Topics: 0
    • Replies: 10

    Hi Raj

    According to you where should we place our sl above A point or above 86 retracement level?

    #35683
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Sometimes you can put between A and 86…..but that’s still 200 pips stop if the trade goes against you

    #35776
    Ivo R
    Ivo R
    Spectator
    • Topics: 0
    • Replies: 7

    Hello everyone, Raj,

    Before anything else, thank you Raj for all you’ve done for us and for the great fib lessons.

    Raj, sory for bothering you so much with my charts, but can you please tell me why you decided to use that particular low on AUD/JPY charts. Can you tell me why the one I used isin’t very good ?

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    #35896
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    To Raj and others
    What is our development of Fib plotting? I need some comments to take decision whether we can go for short or long. By watching the below screenshot EUR/AUD. This is just for our better understanding.

    http://prntscr.com/76v1v6

    http://prntscr.com/76v2qp

    Which direction we can follow.

    #35897
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    Sorry, Please follow another article for comparing.

    http://prntscr.com/76v57l

    #35900
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 363

    Thank you for sharing Azharul. I’m also waiting for more experienced trader to answer, because it’s difficult for me to say where the EUR is going on different pairs like eur/aud or eur/usd.

    #35907
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    In the previous chart of any currency pair we can easily plotted Fibonacci and easily can identify retrenchment/extension. To gauge the future direction, setting of Fib in downward/upward is very difficult. Any experienced trader may kindly answer me.

    #35941
    Giorgi Megre
    giorgi megre
    Spectator
    • Topics: 0
    • Replies: 3

    To Raj and others
    What is our development of Fib plotting? I need some comments to take decision whether we can go for short or long. By watching the below screenshot EUR/AUD. This is just for our better understanding.

    http://prntscr.com/76v1v6

    http://prntscr.com/76v2qp

    Which direction we can follow.

    I have same problem, my SL was hitid coz I made set up according up trend, but I think we will said by Raj that we have to consider down trend, coz main direction.

    #35982
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    giorgi megre,
    What is the meaning of coz.

    #35986
    Moaied Suhail
    moaied suhail
    Participant
    • Topics: 1
    • Replies: 539

    giorgi megre,
    What is the meaning of coz.

    coz IS SHORT FOR because

    i hope you are doing will AZHARUL

    #35997
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    moaied suhail,
    Salam. Thank you. Yes doing well but very slow.

    #36211
    Zahirul Islam
    zahirul islam
    Spectator
    • Topics: 0
    • Replies: 2

    in forex market dont be hurry .

    #36475
    MUSTAZAH ABDUL RAHIM
    MUSTAZAH ABDUL RAHIM
    Spectator
    • Topics: 0
    • Replies: 5

    In the previous chart of any currency pair we can easily plotted Fibonacci and easily can identify retrenchment/extension. To gauge the future direction, setting of Fib in downward/upward is very difficult. Any experienced trader may kindly answer me.

    Same goes with me. It difficult for me to plot the FB because don’t know the next market direction. Waiting experience traders to help us.

    #38009
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Are you a bull or bear?

    Are we testing the monthly candle on euro and going bullish again or not.

    ChF also posted for your viewing pleasure.

    Comments?

    Cheers.

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    #38036
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 363

    Hello Raj,

    thanks for your teachings 🙂 I see it the same way as you, I went long with the EUR after the hammer on the 61.8 level (daily). But from a monthly perspective we could go down as well – we’ll see. It’s uncertain. The UDS index shows the same picture as the EUR/USD at the 618 level.

    #38040
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    Hi Raj,
    Thank you for your good fib analysis. Will you please plot fib label for the USD/CAD.

    #38075
    Moaied Suhail
    moaied suhail
    Participant
    • Topics: 1
    • Replies: 539

    thanks Raj please keep them coming, and if you include entry and TP it will be more complete for us.

    #38112
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Azharul, Cad chart is best described on weekly TF.

    we have trendline and 382 support…after market gave bullish engulfing pattern, we take it for over 200 pips from 1.2290 to current price where we have a trendline acting as resistance.

    If that was too much risk, then knowing the trendline and 382 fib was there, we could have taken a daily trade at 1.2144 when it crossed the resistance line. This was safer entry.

    cheers

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    #38118
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Brother Suhail…I don’t like to always show the entries as its best for beginner traders to first understand how the fibs work, and partially because I take a lot of counter trend trades.

    What’s important to understand is that we try to always take the trades from C to D.

    But since you’ve asked, please see last two entries for euro and chf. We spoke about the euro chart some time back and how it was at the daily 86 fib….so i took a short there 1.1400 level and banked it a couple of days ago at the 618 fib support 1.0870

    Also traded chf because these two charts should go opposite to each other.

    Banked the chf long 0.9150 to trendline at 0.9500. (counter trend trade after market reached D ext. and gave CF).

    Hope this helps.

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    #38127
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 363

    Very interesting Raj. I can see the whole picture much clearer now, after looking at your usd/chf chart. It turns around at 50/61.8 again, opposite to eur/usd or the USD index because of all the negative correlation. Thank you.

    #38144
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    Raj,
    Thanks a lot to learn from you about Fib setting. Please keep it running in future also. I like to see your setting attachment continuously so that will shall be expert soon. Please don’t hide yourself for long.

    #38152
    Moaied Suhail
    moaied suhail
    Participant
    • Topics: 1
    • Replies: 539

    Thank you Raj, I under stand, when ever you think its possible it will be good.
    hope for you the best

    #38157
    Azharul Islam
    Azharul Islam
    Participant
    • Topics: 0
    • Replies: 63

    Hi Raj,
    Have a look on the below link of daily USD/CAD pair that I plotted the Fib label. Am I correct to setting the Fib? Please answer.

    http://prntscr.com/7au099

    #38177
    Himanshu Sahai
    Himanshu Sahai
    Spectator
    • Topics: 0
    • Replies: 10

    Hi Fellas

    In which direction we should plot fib…Upward or Downward? It may be a problem for all of us excluding Raj & other experienced traders of fib trading.We can solve this problem by plotting fib on too strong setups(after point B) in this way we know the direction & i think we can maximize profit by doing this.Strong setups takes some time to form,we have to wait but it is safe.Please check below charts.

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    #38189
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Azharul, your fib is good if you are looking for short trade. I believe that you guys are looking for bullish cup and handle formation? So this would be counter trend, but the way you plotted is absolutely correct.

    If you start getting bearish candles, and we break 4hr trendline etc, then we attempt shorts.

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    #38195
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Himanshu, believe me sometimes i cant even make heads or tails of a chart. But that’s my first indication to move onto another chart!!

    When in doubt, stay out.

    You are correct though….best to pull a fib on the bigger swings of the daily chart, and trade in the direction of that trend. Unless we have a trendline break, then we can attempt different swings.

    I leave a few examples of pairs that are trending.

    As you can see on nzd/usd chart once we hit point C, then the market sank and everytime it came under a fib level (618, 50, 382, the market tried to rally but was stopped by the major fib levels.

    Hope this helps

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