Wednesday, January 31, 2007
Canadian Dollar didn't give us a great trade. GBP and JPY are setting up for some longs at support levels.
The full updates with specific support/resistance levels are here:
Click here for FibMaster's CAD chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Today's ProfitPoint update is sponsored by
Surefire Forex Trading.
Posted by FibMaster @ 09:33 AM PST [Link]
>James wrote:
> Do you use the CCI at all?
No. I don't need the complications, what I have already works.
> Do you trade divergences?
No, though it can be entertaining, there is no need to make it more complicated.
> Do you use candle triggers (dragons, dogis etc.)at points where indicators show entries?
I do use candle patterns, but not as triggers. My key trigger is TRSI.
-Neal.
Posted by FibMaster @ 09:31 AM PST [Link]
Tuesday, January 30, 2007
Canadian Dollar is in a triangle formation and could break in either direction. Look at this chart so that you will know how to trade it. Remember that we enter at Fibonacci levels only, not on breakout!
The full updates with specific support/resistance levels are here:
Click here for FibMaster's CAD chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Today's ProfitPoint update is sponsored by
Surefire Forex Trading.
Posted by FibMaster @ 08:48 AM PST [Link]
Lori wrote:
> Neal, thankyou very much for all of your insightful
> seminars (love your sexy accent) and for returning all
> the email ?s i have had. i appreciate it all. Lori
Thanks Lori, you warm my heart.
-Neal.
Posted by FibMaster @ 05:59 AM PST [Link]
Monday, January 29, 2007
>Neal,
>
>I bought your "Trading with the Trend" videos. It's well presented and informative tutorial.
>
>
>Can I ask which inputs you used for the slow stochastic (it's covered up by a table in the video) ?
>
>Kind regards,
>Geoff
Hi Geoff,
The best settings I have found for MACD and Stochastic with Fibonacci are the DiNapoli settings. This is a personal choice, so you should decide on what works for you.
Unfortunately I am not at liberty to disclose Joe's settings. Joe DiNapoli has a website, send him some email for those.
-Neal.
Posted by FibMaster @ 07:08 PM PST [Link]
British Pound (Cable) is pulling back for a potential long trade. 1.95 is critical support for this potential move to 1.99
The full updates with specific support/resistance levels are here:
Click here for FibMaster's GBP chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Today's ProfitPoint update is sponsored by
Surefire Forex Trading.
Posted by FibMaster @ 05:43 PM PST [Link]
Friday, January 26, 2007
The indices have lost momentum recently, it's time to be careful. Too early to start shorting aggressively, but watch the current updates so that you know where the danger pointa are. This update looks at the daily and weekly charts, for a big-picture perspective on the markets.
The full update with specific support/resistance levels are here:
Click here for FibMaster's S&P chart update. This video will open in a new window.
Click here for FibMaster's S&P chart update. This video will open in a new window.
Click here for FibMaster's S&P chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Check this chart in coming days, see whether my update was "on the money". Learn to apply these techniques to your own trading here
Posted by FibMaster @ 09:59 AM PST [Link]
Thursday, January 25, 2007
Thanks for all you are teaching me. You are much appreciated for what you do for us.
Happy Trading!!
-Donna
Posted by FibMaster @ 03:53 PM PST [Link]
>Neal...
>
>Based on your most recent free e-mail update, Click to see the update.
>I was able to pull 63 PIPs out of the Euro today...
>are you sure you can't slide me into your ProfitPoint letter??? --- "pretty please!!!!" :0
>
>
>Thanks again
>
>David
>
David, that's great! A respectable profit, well done! Fibonacci is great for FOREX trading, did you notice?
You just missed my birthday, so you'll have to wait a whole year before sending me something. If you haven't done so, order my seminars, you'll love them. In the long run, it's better to learn how to do this than to rely on someone else to make the calls.
Unfortunately the subscription service is no longer available. Providing that is too much like work, after several years at it, I'm taking a break.
-Neal.
Posted by FibMaster @ 02:02 PM PST [Link]
>
>Hello Neil:
>
>I have gone through the two video seminars and am now trying to practice your methods. I am not able to find charts that have the Fibonacci expansion facility. Can you recommend any? I would like to get free ones while I am learning if this is possible. I am learning to trade the forex market. I started with the 4exmadeeasy software program which got me started but I have now discarded it. I wasn’t able to make it work for me. However it intrigued me enough to continue working in the forex market and have >started learning technical analysis. Your assistance would be appreciated.
>
>Sash
>
Sash,
I use Esignal, and am very happy with it. Unfortunately it is fee-based. I'm not familiar with any free charting software that calculates expansions correctly. Some software will do it incorrectly, so do check their calculations when you find one.
-Neal.
Posted by FibMaster @ 01:54 PM PST [Link]
>
>Neal,
>
>Do you provide daily signals/calls for your members on Currencies?
>
>Thanks, Raphael
Raphael,
I am planning for an extended trip, so am phasing out the intraday chat and the daily market updates. Those services are no longer available.
I do need to remove those from my website to avoid confusion..
-Neal.
Posted by FibMaster @ 01:50 PM PST [Link]
>Neal,
>
>1. I was looking at a chart after I had watched the videos, and in a range bound market the fib levels don't seem to work. In theory the distance move from CD should be the same as AB. But it doesn't happen when the market isn't trending (which is most of the time).
>
>2. I have the most problem with is the market entry using fibs, I need the part the teaches me the technique for a trade setup (for getting into a trade) using fib levels. Such as if you use supporting indicators, or market symmetry, stochastics or volume for example along with your fib calculations to get into a trade. BTW, I use Ensign software to chart with...
>
>3. Also I have seen a bunch of programs that talk about the market going to target areas based on fib calculations, they even project them visually, but how does your program teach me if the market will go to these levels?
>
>4. Can this method be used intraday on a 5 min chart?
>
>Regards,
>James
>
James,
Thanks for your earlier note about the email error. Sometimes my spam filters will hide email from me, very frustrating. Since I'm getting over a thousand emails every day (mostly spam), this is a real problem.
Some thoughts on your questions..
1)No do not use Fibs in range bound markets. For that matter, only trade when the market is moving. Otherwise you'll be more frustrated than you really need.
2)My video seminar called "Trading the Trend specifically addresses this. That video teaches how to use MACD for trend, and Stochastic for entry/exit trigger. You will notice in my market updates I use TRSI instead of MACD/Stochastic, just because it is my preference.
3)Knowing where those levels are is easy. Know if the market will get there is much more difficult. It requires skill and experience, judgment. For example, a fast thrusting market will reach a further profit-point (exit). A slow sluggish market tens to reach only the nearer profit-point (or more frustration on the way to a distant profit-point). There are many issue that can effect the decision on which profit-points are more likely. My advanced seminars will help with this, particularly the "Let your profits run" seminar.
4)Yes! 1 min, 5 min, and all the way up to yearly, as long as the instrument is liquid.
-Neal.
Posted by FibMaster @ 01:42 PM PST [Link]
Wednesday, January 24, 2007
The Canadian Dollar is still bullish overall short term traders can buy dips as long as key support holds.
The Euro made a mini-rally and looks shortable for a move down to the next significant support level.
The Yen chart has had a strong move up since December, and looks overbought for the short term. If longer term support holds, and the trendline, we could have another long opportunity setting up. Or else it will get bearish!
The full updates with specific support/resistance levels are here:
Click here for FibMaster's CAD chart update. This video will open in a new window.
Click here for FibMaster's EUR chart update. This video will open in a new window.
Click here for FibMaster's JPY chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Check this chart in coming days, see whether my update was "on the money". Learn to apply these techniques to your own trading here
Posted by FibMaster @ 08:50 AM PST [Link]
Tuesday, January 23, 2007
>
>Hello,
>
>Which of your video courses do I need to puchase in order to get the formula for the TRSI indicator ?
>
>Many thanks,
>Geoff
Geoff, you need the seminar called "Trading with the trend". http://www.fibmarkets.com/videoseminar/trendvideo.html
Click here for that seminar page
Posted by FibMaster @ 10:28 PM PST [Link]
> Ty wrote:
> Hi Neal,
>
> Thank you for the emails.
>In buying the complete set of videos (as advertised at $219 for five courses),
>will this provide me with membership and the TRSI formula?
>
Ty,
Yes it will.
The $219 will get you all the seminars and the TRSI.
What software do you use? I may have the TRSI for that software. Else you need to program it from the English formula...
-Neal.
Posted by FibMaster @ 10:17 PM PST [Link]
Pfizer announces major cutbacks, but how is the Biotech sector over-all??
The full update with specific support/resistance levels is here: Click here for FibMaster's IBB Biotech sector chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Check this chart in coming days, see whether my update was "on the money". Learn to apply these techniques to your own trading here
Posted by FibMaster @ 08:34 AM PST [Link]
Monday, January 22, 2007
This is an update to the Fibonacci chart we discussed last October, here:
Click to see prior AZN blog entry.
One the of the primary principles of trading is to "preserve your capital". We have to take some risks, but we should employ strategies which put the odds in our favor.
Here is a practical example of how to approach a chart, how to avoid a trading disaster, how to filter out those bad trades.
The full text of this update is available here:
Click for AZN chart update.
Posted by FibMaster @ 05:04 AM PST [Link]
Wednesday, January 17, 2007
morgan wrote:
> Hi. I purchased the Trading with the Trend seminar the other day which i found really interesting,could you tell me though what are the best settings for the stochastic indicator.
> Many Thanks
> Morgan
Morgan,
I like the "Preferred Stochastic", which is a setting developed by Joe DiNapoli. Unfortunately I am not at liberty to distribute his information. You can reach Joe at http://www.fibtrader.com
He's a great guy, tell him I said "Hi".
-Neal.
Posted by FibMaster @ 06:08 AM PST [Link]
Tuesday, January 16, 2007
The Utilities sector is pulling back to strategic support for a long-term trade.
The full update with specific support/resistance levels is here: Click here for FibMaster's XLU Utilities sector chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Check this chart in coming days, see whether my update was "on the money". Learn to apply these techniques to your own trading here
Posted by FibMaster @ 07:17 PM PST [Link]
Monday, January 15, 2007
Hi Neal,
A week ago I purchased your introductory course to fibonacci and after viewing it I decided to purchase the remainder of your courses. I am facinated with fibonacci and heard about you through another on-line class that I attend twice weekly. I'm sure glad I discovered you.
I am now two thirds of the way through your courses and I am thoroughly enjoying them and learning more than I previously knew before. I like that! I look forward to reviewing the remainder of your courses.
Becky
Posted by FibMaster @ 02:04 PM PST [Link]
Saturday, January 13, 2007
The Canadian Dollar is bullish overall but pulling back to support for long traders..
The Euro broke the last support level easily and has pulled back to the next significant support level.
The full update with specific support/resistance levels is here: Click here for FibMaster's EUR/USD and CAD chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Check this chart in coming days, see whether my update was "on the money". Learn to apply these techniques to your own trading here
Posted by FibMaster @ 09:11 AM PST [Link]
Friday, January 12, 2007
>Hi Neal
>I have just purchased all of your seminars and videos. You speak a lot of
>the TRSI and you say the formula is on your " Trading the Trend" video. I
>cannot seem to find it there. Am I missing the boat here somewhere??!!
>Thanks for the info contained in these videos. I have been trading
>relatively successfully for the past 5 years, but recently I have been taken
>out EXACTLY on my stop loss and then the market turns around and goes to my
>provisional targets. If my S/L was 1 pip lower (or higher) I would have had
>good profit runs. Do you have any info which specifically deals with INITIAL
>Stop loss placements. I have watched your videos and need to see them again,
>so perhaps this question is premature.
>
>With Best regards
>
>Alan
What software do you use for charting? I may have the formula for your software.
My Stop-loss video seminar will help you that question.
-Neal.
Posted by FibMaster @ 10:10 AM PST [Link]
>Hello and a happy new year to you Neal.
>My question to you today is regarding price targets using fib-extensions.
>On any given up or down move it is likely that you will be able to spot
>more than 1 'ABC' move to price project. I have attached a monthly chart
>of the FTSE100 index to illustrate this and would like to point out that
>I use the 0.618,1.00,1.61 ratios only for price targets.
>
>Firstly would you agree with my labeling?
>If so is it feasible to take extensions from any or all of these points?
>(Obviously as long as we have not extended beyond the 1.61 level from any
>given 'ABC' move).
>
>Should any priority be given as to which price target to use?
>For example more priority for the most recent 'ABC' swing.
>
>Warm Regards
>Harry
Click to see FTSE monthly chart.
Hello Harry,
You ask simple questions, but the answers can be very complicated.
Yes your labeling is appropriate, those ABC swings all look good for Fibonacci expansions/extensions.
One problem that traders have is that there are so many indicators, so many lines, so many possibilities. When you add more information to a chart, you reduce clarity and make trading much more difficult. The opportunity for errors and bad trades seems to increase as the complexity increases. All this while the trader is trying to find a good trade.
With ABC (expansions/extensions) you should give priority to the larger and most obvious swings (stand out swings). Higher time-frames are also more important (those monthly expansions are stronger that than the 60-minute ones. Though if you're trading a 5 minute chart, the 60-minute expansions are very important too. So it's relative, you have to decide which swings are most important for your current trading time-frame.
Also, and this is key, you want to find where there is SK support/resistance, confluence. To do that you have to combine retracements with your expansions.
With some practice and experience it becomes easier, second-nature.
-Neal.
Posted by FibMaster @ 08:55 AM PST [Link]
Tuesday, January 9, 2007
The Canadian Dollar is bullish for the meantime but be aware of some resistance overhead.
The Euro has pulled back to a significant support level.
The full update with specific support/resistance levels is here: Click here for FibMaster's EUR/USD and CAD chart update. This video will open in a new window.
(At some future point these update files will be removed due to space restrictions)
Check this chart in coming days, see whether my update was "on the money". Learn to apply these techniques to your own trading here
Posted by FibMaster @ 09:52 AM PST [Link]
