Search entries:

FibMaster live workshop
& chat!

Live webinars
lessons & seminars.

Video seminars & lessons.

See what other traders say about FibMaster.

[Previous entry: "A pot of gold."] [Main Index] [Next entry: "Taking Profits, a logical way!"]

02/09/2006 Archived Entry: "Questions about gold, time-frames and Fibonacci."

Hi Girish,

Please see below.

>Girish Mohata wrote:
> Dear Neal,
> Thank you for your email. I purchased your seminars (both intro and
> advanced).
>
> I have gone through the videos 3 times and must admit they are exceptionally
> well spoken. I am yet to try these techniques in the real life. I deal
> mostly in currencies and metals (primarily gold). I would like a free
> one-month subscription to those daily market updates.
>
> Also I have a few questions, if you could help me:
>
> 1 - Assuming I am looking at a 5 minute spot gold chart. Lets say that the
> market moved downwards (over 1 day) from $570 to $565 (high to low). If I
> draw a fibonacci retractment on 38.2%, 50% and 61.8% and the resistance is
> predicted around $568. My question when should one expect this to come true
> (if at all). Remember I am using a 5 minute chart.
>

I do not concern myself with "when". It does when it does.

> 2 - I am a short term trader - Average trade will be 2-3 days. Is there a
> rule of thumb or a good measure of what time chart should I generally be
> studying ? Like a 5 min or a 10 min or an hour, etc ?

You should probably focus on time-frames from 60 mind down to 1 minute.

>
> 3 - The other technical factors I use in my analysis are bollinger bands and
> RSI. Are there others which are very good (in your opinion).

I really like my TRSI indicator, which is explained in my "Trading the Trend" video seminar.

>
> I would much appreciate if you could take out time from your busy schedule
> to answer these for me.
>
> Regards,
> Girish

-Neal.