Eman93
4,750 posts
msg #71229
- Ignore Eman93
modified |
2/5/2009 11:50:35 PM
guru_trader
- Ignore guru_trader
modified 1/30/2009 1:58:20 AM
Nice!
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You need to set the fib numbers to one day ago.
You get tomorrows numbers from todays high low close and range..
the chart needs to project the numbers forward, this should be correct.
It is kinda cool to see how the high and lows are bound around the zones.
THIS IS FOR CHARTING ONLY...NUMBERS ARE ONE DAY AGO
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chetron
2,817 posts
msg #71230
- Ignore chetron
modified |
2/6/2009 6:44:33 AM
Eman93
- Ignore Eman93 2/5/2009 10:48:44 PM
I think we are to use "average day range (n)"? n= number of days
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i removed the 10 because it didn't help the "day range" line any, and i wasn't sure that you wanted the average so i left it as is. : )
updated filters to average day range(30)
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Eman93
4,750 posts
msg #71235
- Ignore Eman93 |
2/6/2009 9:16:56 AM
Thanks Chet
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guru_trader
485 posts
msg #71247
- Ignore guru_trader
modified |
2/6/2009 6:11:27 PM
These pivots sound a little like ... http://www.surefirething.com/day-trading-secrets.html
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Eman93
4,750 posts
msg #71256
- Ignore Eman93
modified |
2/7/2009 1:58:44 PM
I found it in a trading book...by Suri Duddella, he references John T Jackson and Robert Krausz works on Fib Zones.
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karennma
8,057 posts
msg #71277
- Ignore karennma |
2/9/2009 8:10:45 PM
Eman93:
That is a WONDERFUL filter.
How do you use the pivot point. Is that your benchmark for a reversal in price?
Thanks.
:>)
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Eman93
4,750 posts
msg #71280
- Ignore Eman93 |
2/9/2009 10:24:05 PM
The Pivot is a support/resistence line, always be aware of yesterdays close also this is another strong area for support/resistence.
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SFMc01
358 posts
msg #71290
- Ignore SFMc01 |
2/10/2009 4:00:43 PM
Help please. I Need Recommendations for Education on Using Fibonacci Zone Pivots for Day Trading. Are there websites or articles someone mighjt suggest? I need a real How To article or book
Thanks .... Steve
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Eman93
4,750 posts
msg #71296
- Ignore Eman93 |
2/10/2009 6:44:21 PM
You trade it like this...
First plot the lines on your screen
Sp1 is support 1
SB1 is the lower support of the zone, if price is between SB1 and SP1 it is in the FIB Zone...
Buy if it moves up out of the zone, sell short if it breakes below the zone.
The piviot is a point of support and resistance, watch for break downs.
Just because it leaves the FIB zone dose not mean it will run to the piviot or the next resistance zone.
Take a stock you normaly trade set the date back one day on the screen and plot the lines on todays chart it should seem pretty clear from there.
It would make sence to me to that a day trader be able to buy and short the same stock in the same day.
if you buy while in the zone and it breaks the wrong way than just flip the trade...have it all set to go buy 500 sell 1000.
I can't short in my plan so I try to play it with FAS and FAZ.
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Eman93
4,750 posts
msg #71301
- Ignore Eman93
modified |
2/10/2009 9:53:41 PM
This should help........
http://www.scribd.com/doc/7205453/High-Probability-Fibonacci-Analysis
I just found this on the web, it has awsom detail, you could build a screen around the diffrent zones and get some stats like if open in zone 2 % of time close was in zone 4, the formula is all there and how to trade it.
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