There can be variations of the key fibs depending on the pair, but according to that site, the way I read it is:
B - Must be near 61.8% of XA.
C - Must be 38.2% of XA or
88.6% of AB.
D - Must be 78.6% of XA and
between 127% and 161.8% of BC.
There can be variations of the key fibs depending on the pair, but according to that site, the way I read it is:
B - Must be near 61.8% of XA.
C - Must be 38.2% of XA or
88.6% of AB.
D - Must be 78.6% of XA and
between 127% and 161.8% of BC.
Can anyone give me the link to tmoney videos on youtube? Iāve tried searching for them but I just get some wanna a be rapper.
the more I study past dataā¦
the more amazed I get at the real power of the Fibonacci
Actually thats interesnting because in my learning in fxgroundworks, i know they use the fib extensions of BC to calculate where price should reverseā¦
But TMB still works good. We have to study better i know there is some kind of gartleys that have to work better than others.
yeah this seems right ā¦ mabey TmoneyBags can clear this up for us
Annihilat0r
Newbie
"the more I study past dataā¦
the more amazed I get at the real power of the Fibonacci"
Me, too, Annihilator! Especially today reading posts 2907 and 2913 - wow! I practiced drawing patterns and Fibs and really "seeingā what TMoneyBags is saying. He is an excellent teacher and I thank him for all that he has shared with all of us! Thank you SO much! So glad to see you are back and posting again, TMoneyBags! I think you give us all hope.
Anyone wanna have a look at my charts and see if i have got the pattern right ? i used two differnt x points im not sure which one is correct though
Dan:
Your patterns look good to me. However, since this is going to be a Bullish pattern, you are going to Buy, and for this reason you need to construct this pattern from Asking prices, not Bidding.
Oh yeah i forgot about that rule ā¦ anyway i just had a look at the difference between the bid and ask prices and its only a 1 pip difference so should still be good. btw when i click on the ask price it just moves my whole chart up 1 pip ā¦ does this sound right ?
hehe yeah its normal, sometimes its a huge difference though!
cool, thanks for lettin me know
Usually there wonāt be pattern differences between Bid and Ask prices, unless the spread for the pair has changed a lot during that pattern.
thanks for the help
Lately Iāve been thinking how hard the āCD should be at least 1.00ā rule should be obeyed. I have been seeing a lot of patterns which respect a D even if itās the 0.886 ret. in the CD line.
When searching for sell patterns stay you must be on the Bid. While searching for buy patterns, you must be on the Ask. Even though you may find sell and buy patterns while on the bid, you must always adjust your charts bid/ask to go in accordance to the pattern that you will be trading. Not doing this will result in endless fake outs and horrible entriesā¦ In addition to patterns showing convergence points at areas where they shouldnāt. As a result, the importance of this is crucial and I make sure I change the bid/ask when ever I find a pattern.
Hello NeoRio, Go to the User Control Pannel (click on your name on the top right where it says āWelcome, [B]NAME[/B]ā). On your right hand side go to Settings & Options and click on āEdit Optionsā. Scroll down to the third category which should be āThread Display Optionsā and in the box that says āThread Display Modeā click on the drop down box and change āLinear - Newest Firstā to āLinear - Oldest Firstā.
Or
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Does anyone use FXDD and know how to input the cutom fib lines? If so, any input would be appreciated.
Do you guys think this pattern that i posted a few days ago is now invalid since it seems to be moving up alot now
Thatās why they invented price alerts and entry orders