Swing Trading Fibonacci Time Zones
Posted on April 16th, 2010 in Top Dog Trading | 19 Comments »
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Using fibonacci levels is most often done in relation to price, but it can be used for time as well. Works with day trading, swing trading, stock trading, forex, futures, eminis, etc.
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19 Responses
Sorry to not be so enthused re: verticle fib lines.
Itis too many things to put on your charts. I feel that I want to have as few as needed. I want my charts simple. I am looking at purchasing ur courses. I hope to be able to distill it down to just a couple of setups that can be traded over and over again. Now, I dont’ know much about the ex-con trade or the freedom trade, but I am definitely going to check ‘em out to see if they fit me.
Thanks for the good comment. My rule is just enough on the chart to give high probability scenarios and not one iota more.
I don’t use this all the time, but it’s good for the big picture on index charts as it helps to confirm the cycle indicator.
Ah. Thank you. That makes more sense. Your added comment on “cycles” made a light bulb go off in my mind. Now I can picture what you may use the fib time lines for. I am glad that it isn’t used all the time, but in special cases, I can see how they might confirm cycle highs and lows of oscillators. I will keep this information in mind as I go through your course. Signed: Chin.
Exactly. Think of it like this: Most people use grid lines on their charts that are evenly spaced. I take those off and put fib lines on very faintly in the background. They service as grid lines but are more meaningful. This video format is small so had to make them dark and the small size makes it look cluttered.
Fibonacci time zone? or did you say Gann time zone? never heard of these =/
good stuff, what advanced trading platform would you recommend?
phsplaya4242, My favorite advanced charting program is NeoTicker from TickQuest.
Whats your opinion on the efficient market hypothesis?
VOLUME
Cool stuff. I have been using Sharpcharts – free version – maybe it’s time to pay the money.
Good video on the time zones, but I have to disagree with you on the wicks. The fact that price was there at one point is very beneficial to see what happens when price comes again to that point. Although it rejects that price for the time being, it certainly creates a new mark for future support to be possibly breached.
Good information. I agree with Barry that the real body of the candle is the real market. The higher and lower shadows (wicks) are the extremes. Steve Nison’s books teach this. Market makers run prices down to hit stop loss orders and they run it up to extremes to hit the Shorts stop loss orders. The people buying at highs and selling at lows might not be the most sophisticated traders/investors. Thanks for the free videos, Barry.
As far as tails:
It comes down to luck of the draw, IMO.
Imagine that you’re looking at 1 min charts, and the price actually printed at the low when the time period closed. In that case, it wouldn’t leave a tail, but a whole candlestick. That fact alone might influence the market to drop the price even lower, so it’s all about timing and luck of the draw. I generally don’t buy UNLESS the prior time period printed with a favorable candlestick; too risky for a print to turn before it closes
do fib time zones work because people use it? Or is it because for some amazing method, it works?
then use ticks instead of time charts
BOOOM! 6:38
@Fullperson
I can see how fib works on forex because people use it for trading. On the other hand, S&P is a composite average of stocks which should in theory not work with fibonacci on supply and demand of the index itself. And fibonacci is not universally applied to every stock. If it works on what you’re trading, use it. Amazing method, yeah I reckon it is.
I bet this software didn’t predict the recession.
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