G/U pretty far, but E/U is already there. Not a bad long entry now actually…I’m contemplating. :rolleyes:
do ou apply fibo to all tf’s ?
Markets movemeants are fractal, so yes.
I may draw a fibb on the daily, and just mark the levels so I have then when drawing smaller fibb, like on the 15 min.
The idea is really to draw it on the clean move that is starting to retrace, weather it’s 50 pips or 300.
The .50 -61.8 area is always key as a retrace target, and a place to enter back in the direction of the trend, if VSA agrees.
Ok thats really helpful. So what if the price was retracing into the 50 level with high volume…?
in an up move let’s say…
A high Volume reaction to a retrace down to .50 - 61.8 area, along with pins formed there and no candle closes BELOW those hi vlm pins. Then ideally you want a solid bullish close on medium vlm to enter long.
I don’t always wait for that entry candle…you have to read it. Let’s say it double bottoms and both bottoms have pins and high vlm…I’ll just be looking to get in practially anywhere after that second bottom has formed and price is moving up smoothly.
We might be getting this type of setup NOW on e/u…watching.
That’s one reason why I like to post charts of my entrys…after a while you should be able to spot it where I would enter after studying them. There is a method to my madness lol.
ur right, it is starting to make sense. sorry to ak to do this, but what about on the other hand, as in g/u went through the fibo level, what would tell you its a clean break and the selling of pound had momentum ?
If you are talking about a fib level other than 50 or 61.8 I dont pay much attention to it. It’s more like a marker, but if I have a setup, I ignore them. A proper retrace setup should bring it to at least .50 fibb.
On larger trades I may use them as partial TP levels, that’s about it.
wanted to post this…
sorry im not explaining myself lol… i mean you said that 50 or 61 is a significant retrace level to go to an then to continue with the trend etc.
What if it went thru that level ? what type of volume indication would you need to see to tell you that this is now going to move lower rather than retrace ?
if that makes a little sense
If I’m understanding the issue right, and I hope petefader will correct me if I’m wrong, but in order for price to continue the trend at the retrace level, you need high volume. If the price is going to pierce the 50 or 61,8 and continue the down move, the volume will only be average or even low. Low volume means low interest in trading either way, so the side (buyers or sellers) that were the last to make the move (in this case from the peak down through 61,8) will push the price a even lower.
kool thanks dude
What tells me that we will NOT get a bounce at 50 - 61.8?
Little to no increase in vlm there means it will probably continue through the fibb levels…that’s one.
Candles not able to close solid back in the trend direction, even though there was initially a good reaction. That’s why waiting for the medium vlm solid close is safer.
Candles that close solid into the fibb area…not a good sign for a reversal.
That’s what I can think of at the moment.
So there is a small bit of a judgement call to be made, but you know what you are looking for, and at least know how good your chances are looking.
Right. When money comes in to reverse a move, vlm increases. Stopping volume is needed at key levels or it will tend to [I]continue[/I].
btw, I would never consider a continuation though 61.8 fibb as an entry…like the gu chart I posted. Thats not a great trade as you will find, after 61.8 you are pretty darn close to an s/r…100% retracement. Bad risk reward on that type of position. Not a buy low sell high approach.
I really don’t mind the questions. I can’t just blab (well sometimes I do, lol).
I need to know what you guys are thinking, and I like that over time there is alot of real deal info gathering in this thread.
P.S. I love the mediocre 3 star rating…must be some haters out there lol. 
Ok. good news for the economy on the day qe is here lol… when good news comes out like that, is that good for dollar or badddddddd
Bad. If you were an american company with capitol in USD, and with investements worldwide…you would you want to invest and take risks on good news, not worry about cash. Good for US is good for everyone. I’m NOT a fundie expert by far, but this I believe to be true.
ok. seems to be bouncing around the 618 level… hmmmmm
I don’t like what I’m seeing on the charts here. Indecision. I’m going to be disciplined and call it a day with my 20 some odd pips. There will be more days when the monster setups come, and we catch them. But sometimes you just have to wait. This is how you live long and prosper. 
Exactly… if your saying hmmmmm, then get your hand off that mouse and behave, lol.
Yeah, I wonder if that hi vol (down!) bar is pinish enough. 
Ah, I kinda get it now. You only take entries in 50% - 61.8% retracements and look for high volume?
Right, but also double tops/bottoms. Buy/sell climaxes at s/r . Break or bounce of HS neck line. Tops and bottoms of channels etc.
All with the same approach, vlm/candle reaction.