Hi,
any fibonacci traders here?
i read a book about fibonacci cluster…
if you are using this method too…
is my fib’s clustering correct? (see my pic)
- The image is too blurred and small, i would suggest you download the Faststone photo resizer to reduce filesize to 800x800, 70% Jpeg and then upload to imageshack. To capture screen get a decent printscreen program lets say at Screen Capture and Print Screen software
All above software are free
- I found that single fibonacci levels would work fine. I plot one at D1, one at H1 and one at M5, for short term I trade the M5, if it cross then look at the higher timeframe. Too many fibonacci lines on the same place became an obstruction.
Ok here is the bigger version… (i hope i dont break any rule… i still love stayin here)
http://img6.imageshack.us/img6/4898/upload2c.gif
Actually it’s not the size of the image, it’s more of the size of the file because it will cost bandwidth. Size of image just irritate some users who has smaller screens.
I see that you didn’t fibonacci in the most recent. For myself I would have drew from the top, left down to the latest lowest. Those fibonacci lines are sufficient. If it breaks downward and cross the 100% line, it should rush to the 161.8% line.
Clustering ‘works’ because of higher probability. Some traders would be fibonacci the higher timeframe (M5), some M1, some H1 and that is where they will place their support/resistance.
For myself, I don’t cluster
so how your fib’s baby exactly looks like mate? can i take a peek…?
Sure, here is my setup using ThinkorSwim. I got tired of drawing fibonacii lines so I programmed a simple one in. I trade M5 charts using D1/H1 charts for direction.
