FibMarkets.com

Announcing a new series of seminars by Neal Hughes “FibMaster”.

Join on-line courses, study from your own computer, in a virtual class, with 15 serious traders.

Don’t miss this chance, access is limited, and traders rave about these seminars. Raise your trading to expert level, take advantage of Neal’s knowledge and experience to improve your performance.

See details here;
http://www.fibmarkets.com/training-workshops/seminar-schedule/

---

Below are trades and comments from members at FibMaster’s Trading Forum.<<-Click to join

---

Originally posted by “FibMaster”; Wed Sep 23, 2009 6:58 pm

 

This may give short opportunities in the coming London session. Bullish if it takes out today’s swing high, so no shorting up there..

Please watch tonight’s DailyForexCharts update for details of a short setup on this pair.

 

---

Originally posted by “pipmyride”; Thu Sep 24, 2009 4:37 am

 

I’ve literally just signed up so hope its ok i post my thoughts and a question here.
I was whip-sawed out of this cable short earlier when it spiked upwards – just before the sudden massive drop down

Now that its moved so far , is there another fib setup on offer – pullback in action as we speak?

Thx

 

---

Originally posted by “pipmyride”; Thu Sep 24, 2009 4:47 am

 

The trade i got stopped was based on a H1, but my entry was amateurish at best admittedly, and the stop was easily taken out by the spike.

 

---

Originally posted by “FibMaster”; Thu Sep 24, 2009 4:57 am

pipmyride wrote: I’ve literally just signed up so hope its ok i post my thoughts and a question here.
Thx

Sure! Welcome..

 

---

Originally posted by “FibMaster”; Thu Sep 24, 2009 5:03 am

 

pipmyride wrote: The trade i got stopped was based on a H1, but my entry was amateurish at best admittedly, and the stop was easily taken out by the spike.

 

Ok 1 hour entries.. I can’t tell where you entered, or which spike took you out. It may be that your stop was too close or your entry too early.

Attached is a 30 minute chart, showing SK resistance at about 1.6300 which could be a [pace to look for shorts. This chart has long-term support in the 1.61 area, adding to the risk. No fun shorting right at support, easier profits if he support breaks first.

 

 

 

---

Originally posted by "pipmyride"; Thu Sep 24, 2009 5:36 am

 

 

Thx Neal – i should have posted a chart though to show my thoughts and entry.
As you can see – using the fibs for entry is still an area i’m learning and getting a grasp of – i’m trying to be positive though and see it as a move i just missed out that would have netted 100+ in about 2 hours.

 

 

---

Originally posted by “FibMaster”; Thu Sep 24, 2009 5:43 am

 

Even with our best efforts, we will still take a loss now and then, and miss a trade..

Some other traders here may comment on your setup.

Some things to check;
Did you have SK resistance at the .382 for your entry ?
Was your stop protected by SK resistance?

I have family coming into town, so will have interrupted access here today. If I don’t respond sooner, then I will later.

-Neal.

 

---

Originally posted by “LifeSong”; Mon Sep 28, 2009 11:26 pm

 

Hi Pipmyride

What I observe from your trade is the following:

1. From your charts I do not see that you used an indicator to trigger your trade. Normally I rely on the TRSI as developed by Neal, but MACD could also be useful.

2. Fibs are great, but we cannot use them in isolation especially single Fibs. It is normally safer to have more than one FIb coinciding at a similar level e.g. 38.2 & 61.8 at similar levels. Your trade you only focused on the 38.2 from a very recent swing, without taking into account what happened on the bigger picture.

3. You also placed your stop too close and that is why you were spiked out and your stop should rather act as a disaster stop (extreme situation) otherwise you’ll keep on being spiked out. With your specific trade I would have suggested placing it above the 61.8 Fib @ 1.6408 and that would have kept you in the trade, because your analysis was correct, but the close stop killed it.

From your post you also stated that you are still learning and I would suggest to you that you get hold of Neal’s training material,if you haven’t done so (http://www.fibmarkets.com/video-seminars/overview/). Many of these issues you’ve experienced with this loosing trade is addressed by him and it will help you become a more succesful trader.

I can also promise you that you won’t regret the expense because Neal’s material will save you mega bucks in the long run and his teaching on Fibs is unsurpassed!! You could also consider subscribing to Neal’s daily chart updates during which he’ll point traders to daily levels to watch for during trading (http://dailyforexcharts.com/subscribe.html) and the beauty is that you have a money back guarantee!!!

Just remember that losses are part of trading and don’t be disheartened by one trade or the fact that you missed a trade. The secret is to accept it as part of trading and to learn from past mistakes.

 

---

Originally posted by “pipmyride”; Tue Sep 29, 2009 11:56 pm

Lifesong wrote:Hi Pipmyride

What I observe from your trade is the following:

Thx – i actually have the basic/adv fib seminars and just purchased the trend trading one. I just need the experience trading the system.

Having said that i am not new to trading, just trying to expand my knowledge of using fibs to find those key areas.

 

 

For Fibmaster and others, i viewed the GU email update and i’m finding it difficult to see the fib high and lows that you have marked because your chart software does not have the line drawn as does MT4 – i’ve included a H4 chart that you can see the fibs i’ve drawn – could you confirm these are correctly drawn – as far as i can see you have first resistance at 1.6070 (which we are touching as i write) and my chart shows that level is the 23.6 of the entire current down move. I dont see a cluster there – is this correct ?

Thx for your patience

Thx

 

---

Originally posted by “Kim”; Wed Sep 30, 2009 12:11 am

 

Hi Pipmyride,

If you are using MT4, you may want to edit the Fibonacci property to delete away other fib levels except 38.2 and 61.8 for ease of viewing. To derive the 1.6070 SK resistance, you have to go down to 1hrly chart where you should be able to draw two more study; from the high of 1.6388 and from the high of 1.6233 to the same low of 1.5770.

I hope this help!

Regards,
Kim

 

---

Originally posted by “pipmyride”; Wed Sep 30, 2009 12:38 am

Hi Pipmyride,

 

If you are using MT4, you may want to edit the Fibonacci property to delete away other fib levels except 38.2 and 61.8 for ease of viewing. To derive the 1.6070 SK resistance, you have to go down to 1hrly chart where you should be able to draw two more study; from the high of 1.6388 and from the high of 1.6233 to the same low of 1.5770.

I hope this help!

Regards,
Kim

Great !
I think i got it .. thx

 

---

Originally posted by “Rhino”; Wed Sep 30, 2009 4:38 am

 

 

Pipmyride,

Learning like you, but here’s my attempt, I’m sure FibMaster will weigh in and give us both some insight. If you’ve seen the videos you’ll remember that we normally disregard the minor fibs of .236, .5, and .768, .886, .707 and probably a few others. I do find that sometimes these minor fibs line up nice with SK resistance (a .382 and .618 in ‘close’ proximity). I’ve marked my reactions (swing hi’s with red arrows.

Thanks,
Rhino

 

---

Originally posted by “FibMaster”; Wed Sep 30, 2009 4:57 am

 

pipmyride wrote:

Lifesong wrote: Hi Pipmyride

What I observe from your trade is the following:

Thx – i actually have the basic/adv fib seminars and just purchased the trend trading one. I just need the experience trading the system.

Could you confirm these are correctly drawn ?

Thx

You are on the right track. Definitely remove all those less-reliable Fibonacci levels, they will just cause confusion. It is important to stick to the Fibonacci levels that work best, most often.

Look at Rhino’s chart above, the red arrows mark the correct places to measure the FibLevels. You want to use all the stand-out major swing points for Fibonacci support or resistance.

It looks like others have answered your questions very well. Let me know if any part of your question has been missed, or if I can help any further.

-Neal.

 

---

Originally posted by “pipmyride”; Wed Sep 30, 2009 5:02 am

 

Rhino – that chart helps beautifully – i really appreciate the time you’ve taken to post this.

Thx very much all, thx fibmaster

 

---

This a chart that we are watching for a potential trade in the Fibonacci Trading forum at DailyForexCharts.com

The AUDJPY pair 60 minute chart shows a potential DRPO short opportunity (look-alike). For this trade to trigger, we need the 60 minute chart to close above the 3X3 moving average (red line on the chart), and then shortly after that to close below the 3X3.

The Double RePo is a powerful DiNapoli directional pattern, and can also be traded as a failure. I have provided some links below to help you research this pattern.

TraderZine forum discussion on DoubleRePo

PureBytes archives Double Repo DRPO research

---

I’m posting this as a learning opportunity. Not every setup will trigger. It is important to know when to pass up on an opportunity.

After some time elapsed, the Double-RePo (look-alike) trade did not materialize. No trade, no loss, no gain.

Attached is the chart showing how this pair went sideways, negating the opportunity. We do not want the pattern to take to long, to go sideways before triggering. The DRPO is a pattern that takes advantage of short term panic, not long term consolidation..

I’m in the middle of recording my DailyForexCharts updates and want to show you the current trade setups, and how these charts are performing since last week.

Last week (Thursday), I announced to DailyForexChart subscribers that we have some excellent shorting opportunities below $78.65 with specific trading strategies to profit from this setup.

Now watch today’s video update, with obvious profitable results!   This update also gives specific strategies for trading the current action this week.   Very important: Yen pairs will retrace and rally at some point, and it could be very soon.   Listen carefully to the video below to know how to handle this situation.

Learn to make these winning trades!  Receive these updates in your email daily.  Click here to learn how you can receive a 2 week trial for just $9.95.

If these strategies seem advanced for you, there are easy to learn downloadable video seminars to get you started here.   Learn how to predict support resistance and determine when to enter and exit a trade.  Click here for more information.

Whether your trading is profitable or not, you can benefit from the tax laws. Profitable trades are taxable, and unprofitable trades can be deducted from other income sources.

Think about that, even losing trades can be subsidized by the IRS. But only if you trade in a tax-efficient way. You need to set yourself up to take advantage of the laws, before you make those trades. You can also deduct a wide variety of expenses from your profitable trading if you position yourself correctly, in advance.

Day Traders Accounting Software takes the complexity out of tax calculations, getting the best return on your taxes. Traders Accounting software shows you exactly how to do that. For a limited time, FibMarkets is happy to be able to offer the following Traders Accounting top tax CDs at 50% off.

Bonus: Each CD also comes with a 40-Page Personalized Tax Action Plan – FREE

So how exactly do you decide what designation will give you the best tax advantage? Should you set up an LLC? Do you need a C Corp as managing partner?

That answer will be different for every trader. That’s why they have included a special questionnaire on each CD of this series. At the end of your workshop you can fill the form out right on your computer and send Traders Accounting with just a click of your mouse.

Traders Accounting will take that information and use it to develop a personalized Tax Action Plan just for you. The plan will ensure you’ll be trading in the most tax efficient way possible. Next they will spend up to one hour consulting with you (a $140 value!) on how to put your plan into place.

If you had to purchase our Tax Action Plan separately, along with the one-hour consultation, you’d easily spend over $250.00. But they’re included FREE with your CD.

If you are new to trading or at a point where you need help with your tax plan/return, this is your opportunity.   Click here to get your coupon code for these products. Be sure to use the corresponding coupon code at checkout for the product you are purchasing.

Here are a list of the available products:
Tax Secrets for Traders – FOREX SERIES
Tax Secrets for Traders – STOCK & OPTIONS SERIES
Tax Secrets for Traders – FUTURES SERIES
Tax Secrets for traders – E-MINI SERIES

---

Combat Trading Losses

 
Below are trades and comments from members at FibMaster’s Trading Forum.<<-Click to join

---

Originally posted by “Hussam”; Mon Sep 21, 2009 2:53 am

Hi,
I am following this pair today. Daily and 4 hour are down. Maybe a bit oversold on lower time frames. I am hoping for pull back to SK resistance at 1.6228 or 1.6280 for a short entry.
The blue line on 30 min chart is the neckline of a possible Head & Shoulders on the Daily. let’s see.
Hussam.

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 4:24 am

I like it, a weak rally would be great for shorting.

---

Originally posted by “Bert”; Mon Sep 21, 2009 8:28 am

should get it…little buy pattern earlier but great downtrend.

---

Originally posted by “Hussam”; Mon Sep 21, 2009 8:49 am

Hi Neal,

We are pushing through the 1st SK resistance at 1.6230, and heading to the next SK at 1.6292. I guess above that , no shorting. 4 hour TRSI looks like it wants to cross up. Does that make sense ?? Thanks.
Hussam.

---

Originally posted by “Kim”; Mon Sep 21, 2009 10:09 am

Hi Hussam,

The SK Resistance is based on 1hrly chart, the price is rejected at the SK resistance with 4hrly TRSI is about to cross up and 1hrly TRSI is in up trend. If you want to wait for 1hrly TRSI to cross down, the play could be well over.

My opinion for such setup is to scalp only on lower time frame such as 5/15min chart where you enter short if 5min shows LL LH below SK resistance @1.6230.

Regards,
Kim

---

Originally posted by “Bert”; Mon Sep 21, 2009 10:27 am

Always amazed (and thankful to Neal) at how well SK resistance works! Amazing!

 

Thanks!
Al Bert

 

 

---

Originally posted by “Hussam”; Mon Sep 21, 2009 10:59 am

Hi Kim,

Thanks Kim. I feel you could be right, in general. I am keeping an eye on the 5 min as well, but if I trigger on the 5 min, then I am really trading a 5 Min chart on the 30 min trend. In this case, 30 min TRSI had crossed up (for the pull back). So, really, I can’t trigger on the 5 min. Also, I noted earlier that the pair maybe a bit oversold and the 4 hour TRSI was trying to cross up. AS it happens, in about 4 minutes my 4 hour TRSI will have officially crossed up, in conflict with the daily. So, it is messy, at the moment. I decided to wait.
Regards,
Hussam.

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 7:49 pm

Hussam wrote: Hi Neal,

We are pushing through the 1st SK resistance at 1.6230, and heading to the next SK at 1.6292. I guess above that , no shorting. 4 hour TRSI looks like it wants to cross up. Does that make sense ?? Thanks.
Hussam.

Hussam,

I’m sorry I missed this post earlier. I was around at that time, but with London nearing a close, I missed your post.

-Neal.

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 7:51 pm

Bert wrote:  Always amazed (and thankful to Neal) at how well SK resistance works! Amazing!

have a good day everyone

Yes, nothing better than Fibonacci for trading! If you know how to do it right, of course.. Your chart was right on.

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 7:52 pm

Kim wrote:  Hi Hussam,

The SK Resistance is based on 1hrly chart, the price is rejected at the SK resistance with 4hrly TRSI is about to cross up and 1hrly TRSI is in up trend. If you want to wait for 1hrly TRSI to cross down, the play could be well over.

My opinion for such setup is to scalp only on lower time frame such as 5/15min chart where you enter short if 5min shows LL LH below SK resistance @1.6230.

Regards,
Kim

Very good observations.

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 7:58 pm

Hussam wrote:Hi Kim,

Thanks Kim. I feel you could be right, in general. I am keeping an eye on the 5 min as well, but if I trigger on the 5 min, then I am really trading a 5 Min chart on the 30 min trend. In this case, 30 min TRSI had crossed up (for the pull back). So, really, I can’t trigger on the 5 min. Also, I noted earlier that the pair maybe a bit oversold and the 4 hour TRSI was trying to cross up. AS it happens, in about 4 minutes my 4 hour TRSI will have officially crossed up, in conflict with the daily. So, it is messy, at the moment. I decided to wait.
Regards,
Hussam.

Great decision! Where did you learn to read the markets like that? ROFL !!

TRSI gives you a good sense of the market, the direction, momentum, likelihood of change, strength of trend. It helps you to train your mind, your gut, to make better decisions.

You nailed it today, saved yourself from a losing trade.

I’ll post a 15 minute chart, showing how it rallied and would have been a loser if you were short.

FYI, on a 5 minute chart, there were tons of opportunities to see that the short trade was not working, so a large loss would not be likely, if you traded with my techniques. Without those techniques, I imagine traders crossing fingers, wishing their stop doesn’t get hit again lol !

-Neal.

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 8:01 pm

FYI, I’m recording a DailyForexCharts video update on this pair right now. Still some downside opportunity, but we need to get further away from support.

---

Originally posted by “Hussam”; Mon Sep 21, 2009 11:39 pm

Neal wrote :
” Great decision! Where did you learn to read the markets like that? ROFL !! ”

Thanks Neal. Well, I can only recommend that people visit www.fibmarkets.com

Thanks,
Hussam.

---

---

 

You can learn to predict these market turning points too.
FibMaster’s Trading Forum.<<-Click to join

 

---

Originally posted by “Bert”; Sat Sep 19, 2009 7:42 pm

 

This is a 60min possible set up, 60 min SK with ab=cd bull gartley…details on image.

Have a good week!

Thanks!
Al Bert

 

---

Originally posted by “Bert”; Mon Sep 21, 2009 8:21 am

First target reached, traded this on spot so no lines to show entry but took 1.4614 as entry right at 100% ab=cd AND sk. SK plus bull gartley = GOLD

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 9:22 am

Nice entry. 1.4710 has some resistance, is your exit going to be at target 2?

-Neal

 

---

Originally posted by “Bert”; Mon Sep 21, 2009 10:10 am

Exited at 1.4684 for 70 pips…done with it after, used some discretion because of the down-sloping trend-line.

Thanks Neal

---

Originally posted by “FibMaster”; Mon Sep 21, 2009 7:19 pm

Congrats on 70 pips for the bank account!

EURUSD is pushing for the .618 expansion now, 1.4725-ish

4 hour trend and 60 minute trend are up, so looks like dips are for buying. I’ll start a new topic for this.

 

Also it will be in tonight’s video update recordings. (Click to view)

 

---

Originally posted by “Bert”; Tue Sep 22, 2009 4:36 am

no comment!

---

Originally posted by “FibMaster”; Tue Sep 22, 2009 4:51 am

Yes nailed that Fibonacci expansion! Ker-ching! Cash register rings… lol.

---

 

You can learn to make 100 pip winning trades too.
FibMaster’s Trading Forum.<<-Click to join

 

---

Originally posted by “Lifesong”; Mon Sep 14, 2009 10:19 pm

This pair is showing an interesting behavior on the 240 regarding reversing off the 60 TRSI as we’ve been analyzing TRSI bounces trades lately.  Looking at the attached 240 chart it is remarkable that it reversed 5 times from the 60 over the last month.  BUT the big negative is that the Daily wasn’t really going anywhere during this time.

Currently price action on 240 is again showing signs of reversing from 60 TRSI and this also coincides with SK resist @ 1.70 level and down sloping trendline.  Just a pitty the Daily is still up and this is not a desirable scenario for shorts, but perhaps if it can thrust through the 1.7030 level on 240 chart one could consider longs towards 1.72 on lower timeframes.

---

Originally posted by “FibMaster”; Tue Sep 15, 2009 4:31 am

5 Reversals in a row, is a lot!

They were all quite decisive turns. This one has stalled, added several candles going sideways since you posted this. It looks different to the prior 5, not decisive at all (yet).

---

Originally posted by “Hussam”; Tue Sep 15, 2009 4:49 am

Hi Lifesong,

Yes, interesting but things may have changed. Weekly found support at P3 (1.6717) and TRSI just about to cross up. Daily TRSI crossed up and 4 hour is up and about to push up through 60 level. Let’s see what happens after Retail Sales figures. Lately, Euro is holding a bit better than Aussie.

Hussam.

---

Originally posted by “Lifesong”; Wed Sep 16, 2009 5:37 am

Just amazing how our eyes sometimes don’t want to believe what we see!!! We had the 6th reversal from TRSI 60 level on 240 chart and took entry earlier today (after 04:00GMT) with break of 60min consolidation @ 1.6935. Now that price is down at previous SL and .618 Fib retracement @ 1.6835 I’ll lock in 50% (100 pips) of the profit and exit other half when TRSI crosses up on 60min.

---

Originally posted by “FibMaster”; Wed Sep 16, 2009 5:43 am

Very nice!

A weak rally (lower time-frames) could be a chance to re-enter.

---

Originally posted by “Hussam”; Thu Sep 17, 2009 2:42 am

WELL DONE. Cheers
Hussam.

---

 

You can learn to make 100 pip winning trades too.
FibMaster’s Trading Forum.<<-Click to join

 

---

Here is a great stock trade under way from the TraderZine forums. Many savvy traders hang out in those forums, so I recommend you join and get involved.

---

Originally posted by “Justin”; 09-16-2009, 11:45 PM

 

Hi Neal,

Several months ago I purchased several shares of Humana (HUM). In a contrarian move I bought while the crowd sold. It’s now in a rally and I’m curious what your thoughts are as to where it will go.

I’ve attached 2 charts (Weekly and Daily) showing some Fiblevels (Retracement and Expansion).

Looking at the weekly chart, TRSI is showing a good trend up. L3 from the high at the beginning of 2008 and the low (Double bottom) in March 2009 paired with P2 from the expansion (Mar, May, July 09) along with a couple trend lines makes me think somewhere between $42.84 & $45.13 is where it’s going.

If you have some time, I’d appreciate and value your perspective on it.

---

Originally posted by “FibMaster”; 09-17-2009, 12:56 PM

 

Hey Justin, great chart!

See my response in this video here.

I’d be interested to know what exit strategy you decide on, how much profit there is for you…

---

Since this is a blog post about stock trading, I want to mention this website that is worth looking at if you want to learn to trade with options (Clark Financial Group LLC).

-Neal.

This is a helpful conversation from the TraderZine forums. Many savvy traders hang out in those forums, so I recommend you join and get involved.

---

Originally posted by “dstaples”; 08-04-2009, 10:30 PM

 

Hi Neal, or anyone else, I wonder if you could help me out with this one, I am still a bit unsure of how to enter a trade exactly.

I have watched the videos, trading the trend etc. but am still a bit confused.

The idea is to buy dips or sell rallies on the LTF but if you wait for a TRSI cross (grey over blue) then it seems you invariably end up buying near the top of a short term rally. Is the idea to buy at the 1st open after the TRSI closes with grey above blue ?, or should you enter at the fib or SK level on these 10,15 30 min etc. LTF’s.

Also, on the HTF, are we just looking for the TRSI to be up (or down) and with no near term resistance or should we be looking for this after a bounce off an SK level on the HTF ?.

Any help with this would be greatly appreciated.

Many thanks

Dorian

---

Originally posted by “FibMaster”; 08-05-2009, 04:51 PM

 

Attached is the chart with TRSI expanded.

In a chart with sudden down-moves (thrust) you are foreced to trade lower time-frames. The only way to get into a fast moving market is to drop to lower time-frames. On the higher time-frames, the sudden drop has already transpired by the time you notice it. So in this case TRSI is not able to determine a change in direction from weak rally to sudden drop until after is has happened.

The solution is to go even lower, to say 5 minute charts. I have not checked in this case, but that is the normal situation for markets which make sudden thrusts.

The vertical red lines on this chart show the TRSI short triggers, when it is able to detect a change in direction (downward). Until the vertical red lines, that chart is in a counter-trend mini-rally. To trade this chart you really need to go to a lower time-frames to catch the little moves, or just take the 4 hour trigger and ride it out (for the bigger move). The 15 minute chart does not have enough resolution to detect the change in momentum, until after a sudden drop.

---

Originally posted by “Justin”; 09-16-2009, 11:56 PM

 

I don’t care who you are, that’s some good stuff right there!
Regards,
-Justin

---