Euro/Cable intra-day trading

Discussion in 'Forex' started by mortysill, Oct 10, 2005.

  1. Why not post them here?
  2. I'm not sure I can do the tabulations on ET. Without them, it is not obvious how I arrived at the key fib level.

  3. Hello Morty,

    could you please give some further information on the method of dynamic fib levels ? What is to be understood under this term ? Is it fibonacci support/resistance applied on different time levels ?
    And for how long have you been using this method ?

  4. cable


    I dig your blog, Morty. You're the real deal.

    And you had a NICE call on cable dropping which was based on the behaviour of the commercials a little while ago. Strengthened my own feelings and helped me avoid getting shaken out. Thanks!
  5. hi morty ... ever trade gold spot or futures ?

  6. Hi,

    Fibonacci numbers model market behavior quite accurately. However static systems such fibonacci retracements (and pivot points) have their limitations in intra-day trading.

    What is needed is a dynamic fib system where fibonacci support and resistance levels are calculated on the fly. If this is done in four time frames (60, 15, 5 and 1), then the same fib level occurring in all time frames is very significant.

    This occurred in the London session today. A key level formed at 1.7503 with Cable. I went long and it went straight to 1.7558.

    The software (Pronet) for doing this has been used by the banks for several years. It has received some negative reviews from ET subscribers in the past.

    I would agree that Pronet, used as the company describes, is not worth the subscription fee. However, if you search for a key level in 4 time frames it becomes extremely powerful.

    Best regards
  7. Nope,

    I specialize in spot FX.

    Best regards
  8. cable


    Is this what you mean by "director/ranger" levels on your blog? I'm not familiar with some of your terminology and tools.
  9. Hi,

    You're exactly right. The fib support/resistance levels are the directors and rangers.

    Best regards
    #10     Oct 11, 2005