Measuring Fibonacci From Where ?

[hagadol]

Lets say there is an upward move, like today on Cable.

The high, at the time of writing is 1.7726.

Prior to the move there was a range between 1.7564 and 1.7601

So what lower value do you use in order to get the retracement levels for this long move ? The bottom of the range or the top ? The range in question was the London session prior to the break long.

I have always tended to go for the bottom of the range, though would be interested to hear comments.

Perhaps one could do both and end up with zones for each level rather than trying to get anal about pinpointing the level.

A good trading week ahead to all.

 

[c6ackp]

I always use the low of the 1min bar at the start of the upward move. On prorealtime this yields 1.7600. Based on this level the 1st PullBack to 637 hits the 38.2% level exactly (plus or minus 1 pip)

HTH
c6

 

[Danger Field]

So what lower value do you use in order to get the retracement levels for this long move ? The bottom of the range or the top ?

At what level did the range effectively break out? That's your baseline.

 

[niceguy777]

Lets say there is an upward move, like today on Cable.

The high, at the time of writing is 1.7726.

Prior to the move there was a range between 1.7564 and 1.7601

So what lower value do you use in order to get the retracement levels for this long move ? The bottom of the range or the top ? The range in question was the London session prior to the break long.

I have always tended to go for the bottom of the range, though would be interested to hear comments.

Perhaps one could do both and end up with zones for each level rather than trying to get anal about pinpointing the level.

A good trading week ahead to all.

The problem with working with the Fibonacci in the traditional way is that it is arbitrary. When you know that the Absolute Fibonacci Framework is there, you see that it is anything but arbitrary. In fact, it is extremely accurate.

When you place a Fibonacci on a historical movement, you can be accurate or not, and you won't know, because as currencies move, they may be moving from one Fibonacci fractal to another, and so the retracement may or may not be accurate..

 

[TheBramble]

Talking of time fractals, you're talking to bods that posted over 3 years ago.

I think they're all dead...

 

[niceguy777]

They may well be! :0)
I'm not talking of time fractals, by the way.....

 

[TheBramble]

I was just giving you a hint for AFF V2....

 

[niceguy777]

There will only ever be one 'version' of something absolute....

 

[TheBramble]

There will only ever be one 'version' of something absolute....

There's a difference between a theoretical or empirical Absolute and someone using the term as a catchy marketing angle for their product or service.

Not having a pop at you at all, but AFF is just a name that you made up – it’s not a scientific verity.

Besides, I myself have had many ‘absolutely the worst trading day ever’ and then amazed myself with my perspicacity in managing to create one that’s even more absolutely diabolical. Never say never…

 

[niceguy777]

There's a difference between a theoretical or empirical Absolute and someone using the term as a catchy marketing angle for their product or service.

Not having a pop at you at all, but AFF is just a name that you made up – it’s not a scientific verity.

Besides, I myself have had many ‘absolutely the worst trading day ever’ and then amazed myself with my perspicacity in managing to create one that’s even more absolutely diabolical. Never say never…

Let's not bother with intellectual jousting here, my friend. If you know about the Absolute Fibonacci Framework, you'd understand what I am talking about. And, by the way, there is a time element built-in, but it's not the most important part of it.

When you do know about it, let me know if I am wrong. Thousands are using it, and I have never had a challenge on it's validity. But there is always a first time.

Many 'scientific' 'proofs' have stood for ages and then been proved wrong, so I don't put much importance in that. It's more important to me that this is a simple technique that works for traders, and blows a lot of the collective beliefs about trading out of the water.

 

[TheBramble]

Let's not bother with intellectual jousting here, my friend. If you know about the Absolute Fibonacci Framework, you'd understand what I am talking about. And, by the way, there is a time element built-in, but it's not the most important part of it.

When you do know about it, let me know if I am wrong. Thousands are using it, and I have never had a challenge on it's validity. But there is always a first time.

Many 'scientific' 'proofs' have stood for ages and then been proved wrong, so I don't put much importance in that. It's more important to me that this is a simple technique that works for traders, and blows a lot of the collective beliefs about trading out of the water.

If you don't want to joust, that's fine - then don't engage. Your choice. As is mine.

I've got no intention of investing in anything of this nature just to understand somebody else’s ‘good idea’, but if they come to this site with the intent to share and discuss, great.

I'm sure the many thousands of your satisfied customers can (and probably soon will LOL) attest to its validity, usefulness and profitability.

 

[niceguy777]

I actually prefer sharing and discussing. That was the point I was making, and I am happy to do so.

Not to find out is also your choice - so who's not engaging!? I thought 'finding out' was what these forums were for, but with nearly 5,500 posts, I guess you haven't yet!

 

[TheBramble]

Not to find out is also your choice - so who's not engaging!? I thought 'finding out' was what these forums were for, but with nearly 5,500 posts, I guess you haven't yet!

I suggested you perhaps should not engage (with me) if you preferred not to joust. I also I said I wasn't going to invest (my funds into your pocket). I can guess what AFF is all about without paying you for the privilege. There’s a new ‘artist’ along every few weeks with their own breath-taking and wonderfully new and different discovery. My favourite was the ‘special fibs’ that even Fibonacci didn’t know about! LOL.

As for 5,500 posts, yeah, not bad is it? I could have joined and lurked and got what I wanted and left, but I chose not to.

By the way, you need to register your vendor status with this site. They're rather picky about these things and you've been registered long enough to know this, surely?

 

[zupcon]

By the way, you need to register your vendor status with this site. They're rather picky about these things and you've been registered long enough to know this, surely?

They arent really picky at all. There's quite a few vendor threads that attract no adverse attention at all. Not all vendors are equal, and those more equal than others have no need to display the tag of shame.

 

[niceguy777]

So, I'm interested as to how you actually do let in ideas that don't necessarily fit with what you believe, but that may help you or other traders in ways you hadn't thought of before. Your rather aggressive reply is of a type that I often see on Forex forums, and I do wonder why people want to stick around forum threads just to get angry.

For me, I just come here, tell people about something I have discovered, they can check it out on YouTube or my website, and then try it out if they like it. I wrote a book on it because that is the best way to give people the information (bits and pieces on forums never really work). It cost me a lot of money as it's full colour throughout, so I just want to recover some of that, which seems fair enough to me.

It's not for everyone, and obviously you don't feel you are worth investing the time or effort in, and that is fine with me. Lots of people have told me that for them it is the missing link that they have been looking for.

And I know you'll find it hard to believe, but I am really not trying to sell anything here. I have always found that those that value it most, find it when they need it.

 

[TheBramble]

They arent really picky at all. .

Well, they were picky a little over a year ago when a then mod demanded he comply and our lad Lewis was just about to...but must have forgot or something (too much left brain, not enough right?).

http://www.trade2win.com/boards/for...zing-review-left-brain-trading-must-read.html

That whole thread is a hoot. This joker seems to pop up every now and again on here when he needs to top up the coffers courtesy of gullible t2w newbies I presume.

Try actually trading Lewis, then you wont have to hawk your pamphlet masquerading as a book. Actually, you’d probably still have to….

 

[zupcon]

Well, they were picky a little over a year ago when a then mod demanded he comply and our lad Lewis was just about to...but must have forgot or something (too much left brain, not enough right?).

Its all part of the charade, Mods throw their weight about a bit and try to make the right noises, but in reality if the organ grinder decides that a vendor is "more equal than others", there's not much the mods can do

The less hypocritical mods have given up all pretense that there's and equitable vendor system.

Still it almost passes as entertainment.

 

[niceguy777]

Well, actually, that's why I don't have a lot of time for chats like this most of the time. But I'll miss this one. Such a charming person!

 

[TheBramble]

Well, actually, that's why I don't have a lot of time for chats like this most of the time. But I'll miss this one. Such a charming person!

Busted! (Again). Run and hide until the next time you need to ponce off the membership.

How's Olga doing with her relationships these days? LOL.