GU Fib cluster accuracy. — Anybody notice how accurately this Fib cluster played out. GU retraced to just above the cluster as described in earlier post and has now broken through 0 line on its way to extensions.

Indicator Free Trading - Skunny

GU Fib cluster — Weekly Fib 0 Line (White) and Daily Fib -38.2 (Yellow) cluster at 1.6240. Chances are we retrace to this level for a double tap on weekly 0 line and then up we go to extensions. Or we break out above the Daily 0 line and to ...

Indicator Free Trading - Skunny

Totally agree. Smaller timeframes to run their Fib cycle first.

Indicator Free Trading - Skunny

Checkz, what does the second tap look like. Stronger attack on resistance or weaker. If you think it's stronger then prepare for a break to the upside and the extensions getting hit. The price will always paint the picture.

Indicator Free Trading - Skunny

Md, was that don't eat yellow snow. Isn't it great to see the thread alive with so many using Fibs correctly and making lots of Pips from their trades. Now if we can just clean up the entry....

Indicator Free Trading - Skunny

5 and 21 EMA's, both represent the number of trading days in the week and month. These values carry ultra significance as the institutions position their currency waiting at certain times of the month.

Indicator Free Trading - Skunny

A picture tells a thousand words... — Observe the attached chart. See how price first approached the 0 line and withdrew quickly. Touched and withdrew with the very next candle. Then we had a second approach to the 0 line with price laying 3 ...

Indicator Free Trading - Skunny

Yes and no Scotty. He uses very few indicators - Fibs and two Moving averages. What he does have though, is the ability to see the large orders coming through (which we don't). In their absence, we are far more exposed to the market than him. So, I ...

Indicator Free Trading - Skunny

The double tap. — Checkz, watch for the double tap witch often occurs. Price will often re-test a line before heading on it's journey. This second approach to the line tells us the most about where price is likely to head to next. Watch how ...

Indicator Free Trading - Skunny

Hi Checkz, once the 161.8 extension gets hit (which it just did), it will be time to move the Fib to the next daily (once candle has closed for the day). Then the high becomes the new 0 line (rinse and repeat). If price breaks 23.6 on the reversal ...

Indicator Free Trading - Skunny

Hey Scotty, look around you. See anybody complaining about all the profitable trades being taken here. This thread is alive and kickin. I for one am related to a big institutional trader who states his team uses Fibs in all their decision making. If ...

Indicator Free Trading - Skunny

Nice to see you here Aad, feel free to jump in at anytime.

Indicator Free Trading - Skunny

GU through the 138 after a long game of cat and mouse

Indicator Free Trading - Skunny

Now I'm in long to the 138. I'm just happy its moving. Nothing worse than a dull market.

Indicator Free Trading - Skunny

GU is coming off the 0 fib, looks like a retracement is on the cards.

Indicator Free Trading - Skunny

It does not get used that often, but sometimes I keep an eye on it, if price starts bouncing around the 100 line, it can give you an idea if you've got a retrace or break of the 100 coming up.

Indicator Free Trading - Skunny

Yep, totally agree Md, 138 trade then reversal - imagine what we could be making if this sort of trade was thrown up daily.

Indicator Free Trading - Skunny

Another Checkz magic moment. — I was waiting for this question to come up, probably the most important question asked so far. You are going to make a great trader Checkz. Make sure you are sitting down when you test this out, it will blow your ...

Indicator Free Trading - Skunny

Hi Checkz, as Skunny stated, the lower the timeframe the less the accuracy. Lower timeframes tend to get whipsawed by a lot of noise and stops are hit more easily.

Indicator Free Trading - Skunny

Correct Edkilp - it is currently ranging between the 0 and the 100.

Indicator Free Trading - Skunny