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Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Oct 30 2016 at 15:54
A little something I learnt today, but which could make a massive difference to your trading.

How to do it:

1. Go to Monthly Chart and place horizontal lines at Highs and Lows.
2. Go to Insert and place Fibonacci Time Zone From First High to First Low (As Shown).
3. Draw Trend Lines from Highs/Lows to where Horizontal Lines intersect with Vertical Lines.
4. Where Trend Lines Intersect draw Horizontal Lines. So you end up with something like the next chart.

Note: Not going to put all the trend lines in, this is just to give you an idea. I'll leave the rest to you. You'll notice that where all the lines intersect provide support and resistance.

Charts Provided: Monthly, Weekly and Daily.

A Little Tip and this can make a big difference: When placing Fibonacci Tool on Chart, Take the Fibonacci Trend Line to the Far Right so it ends on the last Horizontal Grid Line. This also provides support and Resistance.

Whenever the New Weekly/Monthly Opens place new Fibonacci Tool on Chart, same with Daily, 4 Hour Etc. Always taking the Fibonacci Trend Line to last Grid Line to the Right.
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Fight the Good Fight With All Thy Might!!!
togr

Membre depuis Feb 22, 2011  3853 messages vontogr (togr) Oct 31 2016 at 07:12
Dear @Greggy Tony

what are the backtesting and forward testing results of this miracle?

I like what I trade, I trade what I like
Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Oct 31 2016 at 07:23
See Charts with Fresh Weekly Fib Retracement. See how the Fibonacci Trend Line Acts As Resistance on 4 Hour Chart. Must have took me a dozen times to get this Fib right and still didn't manage it. Algorithms can get the accuracy, unlike us humans. We'll be second class citizens soon!!!

Pièces jointes:

Fight the Good Fight With All Thy Might!!!
Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Oct 31 2016 at 09:59
Hi Vontogr

I wouldn't call it a miracle. I don't need to backtest it because all I'm using is historical data. Look at EURUSD
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Fight the Good Fight With All Thy Might!!!
Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Oct 31 2016 at 09:59
Weekly EURUSD
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Fight the Good Fight With All Thy Might!!!
Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Oct 31 2016 at 10:56
.....and again!!!
Pièces jointes:

Fight the Good Fight With All Thy Might!!!
Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Oct 31 2016 at 10:56
....with Fib!!!
Pièces jointes:

Fight the Good Fight With All Thy Might!!!
5astelija

Membre depuis Oct 15, 2014  44 messages 5astelija Oct 31 2016 at 14:19
I'm a bit sceptical as usually :D
If you put a million lines on the chart surely some of them seem to tell the secrets of universe and things... In fact - not.

Prove me wrong and test it!

never ring the bell
mr_cenk

Membre depuis Mar 14, 2016  44 messages Kartal (mr_cenk) Nov 01 2016 at 14:56
so many lines, I got lost... smiley but as long as it works for you, keep pushing for this approach!

Greggy

Membre depuis Dec 30, 2013  158 messages Tony Gregg (Greggy) Nov 02 2016 at 08:15
I agree, it looks like scribble and it's hard to see through it all, but if you look hard enough there are hidden gems in there!!! Just need to keep looking. Apart from that if you look at the EURUSD chart I'd say that was pretty spot on!!! My advice is this start analysing charts on the Monthly then work backwards. You will also find that where trend lines cross these are resistance and support lines.

My attitude is try everything and anything, because you never know what you will discover. I'm learning all the time and I'm learning something new about technical analysis every other day. It's all about Trial and Error. Not only that I'd be bored to tears relying on some algorithm/robot to do everything for me.

Fight the Good Fight With All Thy Might!!!
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M3 Money Supply (44 min)
Market Snapshot: U.S. stocks look set to...(6 min ago)
EURUSD 1.14079 GBPUSD 1.2778
USDJPY 110.948 USDCAD 1.3093

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