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two ranges for Fibs measurement I like to use: 1. the Period of anchor chart ( Monthly, weekly, or daily) 2. the distance of last leg (up/Down)tsf wrote:Thank you everyone for your excellent posts this weekend.
BB52x,
What parameters do you use for your Fibs?
Thank you.
This is why(per my book) if you use RSI as an entry point, wait for RSI to head back up >30 before trigger, so's the sell side wait for RSI <70 to trigger. today RSI's no buy trigger. just like any indicators they all are lagging. the old man once said " Buy when everyone is fearful"Al_Dente wrote:Another chart from the vault.
This is a DAILY chart of the 1987 crash.
Note that two days before the crash, Thursday October 15, SPX closed just a hair under the 200sma (red box).
The day before the crash, Friday October 16, SPX was well below 200sma and the RSI was already in EXTREME OVERSOLD territory
and ripe for a bounce.
On CRASH DAY, Monday October 19, SPX GAPPED down more than -20% and the rest was history.
Many lessons to be found here, two are: 1) EXTREME OVERSOLD RSI does not guarantee a bounce, and 2) Intraday only with no overnight holds, as BrassBalls52x trades, sounds compelling after pondering this chart ….
Al_Dente wrote:Another chart from the vault.
This is a DAILY chart of the 1987 crash.
Note that two days before the crash, Thursday October 15, SPX closed just a hair under the 200sma (red box).
The day before the crash, Friday October 16, SPX was well below 200sma and the RSI was already in EXTREME OVERSOLD territory
and ripe for a bounce.
On CRASH DAY, Monday October 19, SPX GAPPED down more than -20% and the rest was history.
Many lessons to be found here, two are: 1) EXTREME OVERSOLD RSI does not guarantee a bounce, and 2) Intraday only with no overnight holds, as BrassBalls52x trades, sounds compelling after pondering this chart ….
Ok thanks, google keeps saying I need a password..BullBear52x wrote:That blog site is no longer in service.
BullBear52x wrote:two ranges for Fibs measurement I like to use: 1. the Period of anchor chart ( Monthly, weekly, or daily) 2. the distance of last leg (up/Down)tsf wrote:Thank you everyone for your excellent posts this weekend.
BB52x,
What parameters do you use for your Fibs?
Thank you.
Long ES 2895...S/L 20 handles BE after a gain of 20...Harapa wrote:Yesterday ES gained 100+ points past 3:45 EST
I don't use time cycle in my analysis, I just use fibonaci as measurement tool from high to low just to see what the reaction to each level, my final entry based on average price profile and chart pattern.tsf wrote:BullBear52x wrote:two ranges for Fibs measurement I like to use: 1. the Period of anchor chart ( Monthly, weekly, or daily) 2. the distance of last leg (up/Down)tsf wrote:Thank you everyone for your excellent posts this weekend.
BB52x,
What parameters do you use for your Fibs?
Thank you.
BB52x, thank you for your prompt attention.
Would you able to phrase your answer in estimated parameters like these, e.g. Fibonacci Retracement Line(time=65 days or 135 days, minimum length=10 days or 40 days)
Fibonacci Retracement Line(time, minimum length)
time - The first parameter is the length of time used to look for the up-trend or down-trend. So, a value of 65 will search over the last 3 months to look for the trend.
min length - The second parameter is the minimum number of days for the trend to occur. For example, if you specify 15 days here, that means the distance between the high and low must be at least 15 days.
Out @ 2920...need a good night sleep...Harapa wrote:Long ES 2895...S/L 20 handles BE after a gain of 20...Harapa wrote:Yesterday ES gained 100+ points past 3:45 EST