The Composite Index — A bit choppy out there, so I thought I should share some info about the Composite Index. It was developed by Constance Brown, former trader and fund manager, now retired. I learned about it in a Bloomberg publication ...

Islander and Medici trade the European open

I met a French very successful trader (who only trades the Euro) some time ago, and I asked him what his secret to success was. The answer was "price always comes back after venturing outside the Bollinger bands." Long story short, his strategy was ...

Islander and Medici trade the European open

You're right. S/R levels derived from small time frames are less reliable. But S/R levels derived from 1H/4H charts are not. Short term traders have to look at long term charts and long term traders have to look at short term charts, as the saying ...

Random walk and Pascals triangle

One reason may be to attract some liquidity. Say you want sell some volume but available liquidity would make you move the market down too much and not get a good average price exposing you risk-wise. By pushing the market up above the resistance ...

Why Do We Have False Breakout

Let's clear out some possible misunderstanding here. First, I certainly didn't mean 100% certainty in advance, and I can't quite see how what I wrote could be interpreted as such. Rather, in the context of a trading strategy/method one can gather ...

Fibonacci lines - Please explain it

One thing that is for sure is that it is not a matter of opinion. Whether a level provides support/resistance or not is objectively verifiable. That NY dealers identified levels as depicted in my last post is also plain to see without resorting to ...

Fibonacci lines - Please explain it

I'll correct that - shortcomings of the tool as configured on my machine, which I am too lazy to change, as it works fine for me. And the chart has been removed. Can we leave that then? That your statement that fibs are drawn "Based on significant ...

Fibonacci lines - Please explain it

Fair enough, one of the charts (now removed) was confusing due to the short-comings of the MT4 fib tool. And i answered the question arising I thought, but when that was followed up by things seemed to go from point-making to point-scoring, while ...

Fibonacci lines - Please explain it

Oh dear, this is getting farcical. First you ask questions about obvious things, and when I respond based on that assumption, you get personal and question my understanding of things... you are certainly giving an affirmative answer to my question ...

Fibonacci lines - Please explain it

Again, I have to say that I appreciate your scepticism. But unfalsified hypotheses are what we live by, and while "we can't possibly know" may be true in an absolute sense it leaves us without guidance for decision-making and action. And we can know ...

Beat brokers at their own game - trading round figures

The only reason I made a post to this thread, which I now regret, was that somebody stated that fibs are drawn "based on significant highs and lows, period" - a statement that could be interpreted as "between highs and lows" - and I wanted to ...

Fibonacci lines - Please explain it

Fair question, and I do appreciate your sceptical approach. 'Knowledge' is formed by hypotheses that are not falsified by experience, says Popper. I share the belief with a famous speculator that Popperian falsification is more appropriate to ...

Beat brokers at their own game - trading round figures

Thank you for kind instruction. If you had followed or checked my contributions to this forum you would have known that I annotate my charts quite well. The point here was to illustrate how to draw fibs, and on a Saturday afternoon I was lazy enough ...

Fibonacci lines - Please explain it

Is that so hard to understand?

Fibonacci lines - Please explain it

I see. That was done on purpose to get the extension and with it the appropriate price target. So I don't think it needs to be any other way But now I shall try to have a weekend proper... have a nice one!

Fibonacci lines - Please explain it

OK...not sure I get the point of what you are saying....

Fibonacci lines - Please explain it

For what it's worth, here's a couple of comments on drawing Fibonacci lines. The lines shouldn't always be drawn from a significant low to a significant high. Often it is the first higher low that is more relevant for measuring the move. Similarly ...

Fibonacci lines - Please explain it

FibbinArchie, you may find this thread interesting: url

Best way to trade London open?

Not so sure about that. Can be deduced from watching price action, and generally people stay way from placing stops too close to round numbers for the obvious reason that they'd be easily targeted. Certainly, such as yesterday morning around 1.3200 ...

Beat brokers at their own game - trading round figures

There's a piece of writing that is hugely over-rated... Stay away, I'd say.

Market Random and Predictable Parts