GU — I like this better. EDIT: I have more confidence when I can see it on the next higher timeframe. But that's just me. And stop arguing with the teacher MD, it's rude. You get a F for the day.

Fibonacci Paradise

DOW — My take on the DOW. Looks like 9475 is in the cards. Bartstop

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Can you guys do me a favor? Can you post the high for EU on May 21st and what broker you are using. I think I have some bad data. Thanks. Bartstop

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Checkz, I'm pretty sure MD wants to eat your Kiwi fruit. Or is it Kiwiwi? Now I'm confused. Bartstop

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EU — I just pulled this. If I understand you correctly, 1.2996 is in the cards and posibly 1.3321. Bartstop EDIT: I just realized I would have to pull back to a swing high for it to be what you were talking about. My mistake.

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So let me get this straight. With your 100 anchored at the high and your 0 anchored at the low of the previous swing. As soon as you saw the 61.8 hit, that fib was as good as a fib that has already pierced the 0? Bartstop

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I haven't seen him post for a while but I think he is following along. I think MD keeps in close contact with him. Bartstop

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That's part of the reason I post so many charts. I know there are several silent followers of this thread and I try to make it obvious what we are doing and why we are doing it. It's tuff learning anything in a discussion forum. I try to make it a ...

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That's another thing I'm guilty of. I've only been pulling up/down. I need to be pulling back as well. Bartstop

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Thom, I believe we are on the same page. Your first chart highlights what i've been missing. When I start making real money at this, I'm going to come buy you a beer. Or whatever your choice of drink may be. Bartstop

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Here is a good example of what I'm talking about. I would prefer fib 2 over fib 1 when looking at the daily chart. Fib 1 only has 1 inner respecting candle. Fib 2 has 2 inner respecting candles. But, when you look at a weekly chart. Fib 1 is clearly ...

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I think one of the problems I've had is that I tend to fib too many candles. Which is fine as long as you can see the respect from higher timeframes. I think the higher the timeframe you can see the S/R from, the stronger that S/R is. So in theory ...

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Thom, that is exactly what I have on my chart at the moment. Look at the daily. I'm starting to wonder if we would be better off to draw these fibs on the 4hr, daily, weekly first and then trade them from the 1hr. EDIT: When I say "trade them from ...

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EU 4hr. Are the bulls finished?

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Thom, post all you want. The more the merrier. Anything you are willing to teach we are willing to learn.

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If you look at that chart I posted, you'll see a red 0 line and a blue 0 line. Price had already pierced them both and had pulled back up. That to me is a bad place to be looking for shorts as price likes to run away from those 0 lines. I'll be ...

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No problem. Up until this trade I had been concentrating on much smaller fibs. Say 10 candles max. At the very least I should have traded the break of the respecting candle. I was getting too brave. Bartstop

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I actually have that exact fib on my chart. If we get a nice respecting pullback to the inners. I'll probably jump in. I noticed a couple weeks back you said something about a short you've had running for a while. Do you take longer term trades on a ...

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What's happening Thom? I'm going to stay out for fear that I would be revenge trading. I just took my first loss in almost 2 weeks.

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Very likely but I'm trying to proceed with caution. I'm a little wary after the draw down I've just gone through.

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