Hey Heavyweight..how goes it!So sorry bout that on the A/U thing...the daily 61.8 is a tough nut to crack so all is not losst yet....I intend to give it plenty of chances to cross above and hold but will be looking to short in the near future.It is very likely to pull back some on profit taking then make at least one more attempt at the 61.8 followed by some consolidation.If it reverses from there it should eventually move back to 38.2 on daily fib...somewhere in the neiborhood of .7040.These things I am saying is simply normal price action.Fundamentals are improving on A/U and N/U both ..NZ had a nice improvement on unemployment rate and if milk prices gain traction both A/U and N/U could see further gains..but these things dont happen overnight usually.Keep an eye on EUR/AUD to get a feel for what A/U is likely to do next BTW

Hey guys..I almost hate to post this but I just a few minutes ago closed my A/U longs for a nice profit at .7170..yep..I was trading against everyone it seems..but first entry was back at .7088 and added to as it crossed and held above daily 50% fib level.That crossing was a setup to make it to 61.8 which is where I closed today.I felt I needed to post this because it was an excellent example of fibs in action.My chart always has a fib box thats the daily as a permanent fixture and it helps keep me out of trouble always knowing the big picture.That needs to be a part of everyones checklist IMO.I was already in long well before I saw everyone going short and you guys had me just about to sweat when I saw that(LOL)
I intend to stay on the side now on A/U for at least a few hours now..the 61.8 could send it deep south but its bullish enough still to see a possible action above the 61.8 to around .7250..gonna wait and see

One more thing about tops and bottoms is pay close attention to pinbars..if an area has really long upper shadows and hard retrace then a top may be set by that action..just means there were massive stops..TP or selling came into play.Thats not set in stone tho because I have seen a big pinbar followed by action leading to yet another high.I prefer dbl tops and dbl bottoms for that reason.

No one can say if 38.2 or 61.8 is gonna get the most action but they both will to greater or lesser degrees so on an H4 chart either one will yield some pips.A careful look at the major trend can be helpful tho..if one is bullish already and retraces and supports early at 38.2 then the 38.2 is usually a good bet to enter long or add to a long.If ones been really bullish but sets a dbl top then retrace of 61.8 should be a good long entry for a bounce if it gets there but if it dips as low as 61.8 then trend is getting weak so I would take profits on its bounce back to 38.2.The broad market has a lot of respect for those levels on all time frames with fib boxes but especially on the H4 or higher.

Good to see you two sdc...am also pickled tink to see life in our beloved green room...addiction describes FOREX best IMO...careful tho..the high might get expensive at times(LOL)

Hey pennies...you give me too much credit...you are as much a part of the fib box method as I was.it was your videos that layed out my concept in a way others could grasp and understand.As always it was a board effort to help and your part was definitely a shining star!Seems like the enhanced version by building extension fib tools may have complicated things for some so I really think the simple basic fib tool stacked not only works well but is easier to set up and grasp.

Howdy qui...sorry to be so long on answering an important question you asked.On javs H4 A/JPY chart I would set fib forward by one cycle of high/low..a bottom anchor for fib would be the same but top anchor point in this case would be the lower high forward of his top anchor.This price action was uncommon since it reversed without a dbl bottom and set a higher low to begin a new trend...not normal price action but does happen occasionally.By anchoring in this manner the 38.2 and 61.8s are right on as you stack fib boxes.You dont see reversals without retests of low all that often but on that chart it was the case.Dont have time to repost javs and show my different fib location so you'll just have to do a look back at javs post for now..sorry...and hope this makes sense.Gotta run..CUL

Howdy jav...with the fib box thing I delete the fib levels like 23.6/76.4 or 88..I use only the 38.2/50 and 61.8

I go with the assumption that next target from those levels are the zero or 100 mark..levels close to those marks can sucker you into a bad trade by ending you up on the wrong side.For example if a 38.2 holds on a correction then major target can often be 138.2 or 161.8...IOW a short taken just below 100% might well see bullish action that crosses into a new fib box and have you trading against a trend.A pair that retraces to 61.8 might be a good short on its return to 100% but a pair supporting at 38.2 is a lot more bullish usually.Hope this makes sense.

I think youre reading it right qui....all pairs move in the same manner..after first cycle of a new structure high/low off a dbl top/bottom with an outside return like you saw on that chart then you are in a condition to set your fib tool for the beginning box...these pairs seem to be drawn like a magnet to the 38.2 and/or 61.8 levels of our lovely little fib boxes.Setting up a chart on H4 as I described then sitting back and carefully examining the price action as those key fib levels come into play will teach you what to expect.Charts are a great teacher if the elements of design have high probability merit.As I see one hit 38.2 I look for and decide on starting entry and add at 61.8 if 38.2 doesnt gel for the bounce or reversal.If both fail I hold and add again at the zero or 100% mark.Usually dont have much trouble with failures tho since H4 has a lot of clout unless a news driven thingy trumps the action.

GM qui...probably one of the easiest ways to understand what I'm doing and why is to revisit the fib box method I came up with a long time ago..using a barebones chart and fib tool set up using only zero/38.2/50/61.8 and 100...using this and setting a pivot line using H4 chart should really open your eyes to price level trading done by the market as a whole.Once a fib box is breached either in up or down then leave fib in chart and simply stack a duplicate fib box in direction of breach...to stack boxes just dbl click a fib in place then with ctrl key held down grab the fib and drag duplicate either above or below the old one...IOW in direction of breakout of old box.Heres an example of what I said using bare AUD/USD H4 chart...its been in its 3rd box level but now retracing to middle box.I expect support on this outside return at pivot line(green) or about .7037

Good evening qui...trying to annote an MT4 chart is slow and painful IMO..wish it was easier.What I do is hard to get across to the viewer without excellent video representation..even then difficult.Almost Everything is based on a simple fib drawing based on H4 charts last move of significance...a retrace to .382 of that move is usually good to reenter a closed long(for example) but be prepared to add at retrace of 61.8.To adequately show my methods it would probably difficult without loooking over my shoulder..believe me thats been a point of frustration because I only want to help others do well in trading.

pennies..heres an H4 chart showing what I mentioned on EUR/AUD...now a quadruple bottom at 61.8 fib..just above 1.53...4 tests at 61.8 is strong but then if this current bounce back to 50% is rejected then support might finally be broken on outside return trip

GM pennies..all is well here but got same situation as you..lotsa time helping with the twin boys..cuts into my time for getting ready for spring gardening setups as well as cutting into my trading time.My scalping days are over I guess(LOL)..now I trade a bit different but with bigger gains..am trading N/U and A/U using primarily H4 TF...I'm trading their correlation to the Euro using EUR/NZD and EUR/AUD to tell me what to expect...I look for dbl bottoms and dbl tops and fibs set at zero/38,2/50/61.8 and 100.Once in a trade I now look for new structure highs/lows followed by outside returns and trade the trends now since no time for scalping.When going long I set trendline on new structure high and outside return higher lows to give me a trading channel...from there I just trade the channel til a dbl top then close any open trades for the profit and wait for a dbl top to be confirmed by a lower structire high then start the shorting cycle.Using H4 and this method I usually pick up some nice gains as the pair gets trapped in the 38.2/50 and 61.8 area.
pennies be careful with E/AUD...this thing is bouncing from a 4th test of 61.8 the way my fibs are set..thats mighty strong support in my book(LOL)

Good afternoon jav...on the strat tester just choose the template you want tested..for example template name ABCD...just save the template again but under name tester..then strat tester will use that template.The strat tester will only look for tester to use when you run it.You can choose any of your templates and use them under that format.You are NOT renaming your pet template..you are simply making a second copy named tester.

GM Qui...been a long time and hope youve been well.Sad to say but the boards mighty quiet these days...I sold the restaurant and have retired which leaves me with less time for the board than ever..oddly enough....matter of fact I dropped my premium membership with Ihub since my time now seems so limited.Anyway theres not much posting lately but questions usually get answered.On the Q about sc.com..they dont have currency pair charts but years ago I figured out a way to see a currency pairs chart by using this term for example... $XAD:$USD (XAD is sc.com term for australian dollar).The chart you get are not of much value because sc.com does not track and print 24 hr data.On 2nd question any MT4 charting program will give you overlay capability ...overal MT4 is still the most powerful charting program available for free.Simply choose a broker and open demo acct and select MT4 or the chart program download.I use Oanda MT4 BTW but any broker will do just fine.

Praise God jav..thats great...all is well here just staying really busy...dont know how I ever had time for work before retirement..now it seems theres not enough hours in the day(LOL)

GM jav...been a long time since I checked that out but if memory serves the time on MT4 is sorta hard wired to the brokers time and cant be changed

Should be a good play jav..especially now that US rate bumped to .50...that reduced yield on A/U so yield on A/J is more attractive with AUD at 2% and YEN at only .10...good carry trade if on the long side.

GM jav..I started playing A/U pretty heavy quite some time back...before then I had been playing N/U most of the time but when margin requirement increased on NZD I decided to switch to A/U ..I keep meaning to trade AUD/JPY as well but never seem to find/take time to study A/J traders habits or actually the banks habits on that pair.Its got the better yield since its AUD against the Yen

GM guys..I'm kinda late in saying this but HAPPY NEW YEAR and welcome to 2016!!Trading as been good for me since retirement...trading AUD/USD most of the time and going both ways from consolidation to consolidation using M15 time frame.Fibs are set on daily but I watch H4 along with trade entries/exits from M15.I let things run longer now once entry is made.No longer glued to the monitor all day..thats kinda nice

HO HO HO!!MERRY CHRISTMAS guys!!

HAPPY THANKSGIVING guys!!..Yep..I'm still alive and well...still trading but not enough time for scalping so my tradings a bit different than before I retired.Seems like I should have more time now but I dont...retirement is kinda funny like that(LOL)Got one project after another going at all times!

GM jav...when I run a line chart I usually have another chart with candlesticks beside it...line charts dont show highs/lows is the reason.If line chart is daily then the candle is daily...line chart on H1 then candle at H1 also..etc.Havent been trading much lately since I have too much time on my hands(LOL)but have been making a few bucks on A/U swings.Boy jav..Ihubs a royal mess as a freebie!!been so long since I was a freebie I didnt realize what a mess it was.Dont have much time for posting anyway now so no big deal..I can live with it.

Welcome to whats left of our board KIRBY..I recently retired after selling my business and now have less time than ever for posting(LOL)..anyway I let my premium membership lapse into freebie status ...what a mess!Am still trading but less than before.FOREX is challenging to say the least but once you become addicted you may be hooked for life.Be sure and trade demo for at least several months and try to get a solid feel for the wild child FOREX.You might spend some time reading a lot of posts here on the board over the past 2 to 3 years and see how we set up our charts and learn about MT4 charting...the Quad Tunnel(something I designed) and many other aspects of FOREX trading.GLTY KIRBY..I wish you the best....Simple

The easy way using cattle panels is simply build a 2x4 or better yet 2x6 frame 7 feet wide and attch the panels inside the frame...panels are almost 5 feet by 16 feet long and are super strong...lots better than plstic pipe hoophouses.I used 6 panels to give me the 25 foot long greenhouse.Its a rugged construction and inexpensive to build.

I'm going with 6 mil DA...after checking around I think smart is to buy the 6 mil regular film from lowes..it has no ultraviolet inhibitor so it wont last very long but a whole lot cheaper than reg greenhouse plastic.A roll of 6mil 20X200 feet is $77 and can give me 3 or 4 full coverings of the cattle panel version thats 7X25

I could have built the cattle panel version easier than I did ..thats the way to go..lotsa greenhouse space can be built pretty cheap.The Harbor Freight kit is flimsy as designed but a few simple mods on it make it pretty solid.Google cattle panel greenhouses and you will get lots of DIY info to build them.Cant wait to be eating freshly grown lettuce..tomatoes..peppers etc in january(LOL)

You are blessed jav..to be granfathered in..guess I will have to get used to the barrage of crap that a freebie must endure.

Ok ..heres the greenhouse I designed using cattle panels..got lots more space with it when its finished..measures 7 feet wide and 25 feet long.Will have room for several floating raft and dutch bucket setups and can grow lotsa stuff with that one..the small GH I will use for a hydroponic rail system.

GM guys..DA I have been real busy building greenhouses for my hydroponics project..this one is one I put together...its a Harbor Freight kit but I needed a lot more space.The next one I will show you is my own design and its about ready to put the plastic film on.First the kit greenhouse

GM DA...thanks for the congrats on my retirement...getting into hydroponic gardening now that I have the time to get serious with it so instead of cooking food I'm gonna be growing it ...nice change of pace for me.

GM jav...being retired has gotten me exhausted(LOL)...one project after another...gonna be dabbling in hydroponic gardening..its really fascinating.I have less time now than ever that I can spend on the board and dont see that changing any time soon so I have cancelled my premium membership.Kinda hated doing that but I could see it was a waste of my money to hang on to the premium.Still have a bit more time left before it reverts to freebie ...cant wait to be bombarded by all the crap a freebie sees(LOL)

GM pennies...the honey-do's are constant now...youre right...just finished 2 of them yesterday...a small greenhouse and an A frame for the wifes fancy swing...still got a bit more untangling from the business to finish after having sold it...state comptroller and workforce commision but no big deal.Meanwhile I'm sure the misses will find something else to keep me busy...it seems to make her nervous to see me sitting down and relaxing!!(LOL)

Top of the morning to you jav!!I'm still plugging away with Renko but even tho I'm now officially retired after selling the business I seem to have less time to trade than before..just seems that I need to disciplie myself to trade the London session for a couple of hours then early US session...thats my game plan anyway tho I havent got into the groove yet on doing that.Your chart looks good BTW and understand getting back to time based charts..Renko is a different ballgame and not everyone gets the feel for it.Will still be around from time to time...see ya later.

GM kermit..thanx for the congrats..will be glad when I get sort of a daily routine going in this retirement thing...one thing I want to do is to trade the London session at least 2 or 3 nights a week.Never had an opportunity to do that before now.

GM guys...wanted to fill you in on whats happening here..We closed the deal on selling the restaurant last friday so I am officially retired..I guess...the wife has me building a greenhouse and after that on the near term agenda I am to build severall raised beds for gardening and after that I'm supposed to build a nice A frame for her fancy 2 seater swing she bought...on and on and on...etc..etc(LOL)Not sure retirement is such a warm and fuzzy situation!!!!

Howdy jav..I'm still using 20 pip bricks but doing very little trading..the markets spooked and in a serious "safe haven" mode..yen is stronger than I've seen in a long time..fear rules the roost and sensibility has flown the coop(LOL)

IOW we heard it first right here on roller derby huh(LOL)...not holding my breath on CAD pennies..oil situation is bleak up there...one of my grandsons has been working in Canada as a mud engineer for Haliburton but finally the layoffs nailed him..He moved back to Texas and is living here now.No prospects for work in the near future for him in Canada.

Yup..the feds royally screwed things up the last few years for sure.Hey this is a nice followup day for the DOW..down 531 Friday and last I looked another 640 or so today...wild no?(LOL)

Sheesh!!..I agree with recovery...but this market madness and corrections gonna take time to run its course...don't know why theyre in panic mode..the US economy is roaring to the moon...who needs China?!!(LMAO)