how to plot fibonacci?

[irene2395]

Ok another question that is embarassing. When plotting fibonacci levels I'm perplexed.

My understanding when looking at fib retracement levels is you always begin at the swing low and the swing top. For me this usually means that fib degree 100 is always on the base of my chart and 0 is on top of my chart. However some charts I noticed have 0 in the base and 100 in the top. This should not matter right?

Where do fib extension levels come in? Are fib's called retracement degrees when in an uptrend and whistles when in a trend?

[Vipkko771]

I was also taught the smaller the percentage retrace, the stronger the possible resistance/support, ie the 23.6 is most likely to hold, followed by 38.2, 50 and eventually 61.8. Would anybody agree or agree that that is the case? Would be very curious to know...

[sarbowsky11]

Think real hard about this. If you have a high and low, it doesn't matter at all if the 100 is around the top or at the bottom.

[sarbowsky11]

Where would you fib extension levels come in? Are fib's called retracement degrees when in an uptrend and extensions when in a downward trend? The retracements are revealing that the levels between two understood prices, ie, price goes from 3600 to 3700. The 50% retracement is 3650.

An extension is projecting to the future into unchartered land. It takes three understood prices and it then shows numerous projection levels.

[anpknio.abs]

Think real hard about this. In case you've got a large and low, it doesn't matter at all if the 100 is on the top or at the bottom. I believe when it is 50% it is a fair statement, but would not think so if you are discussing other people

Just my two cents, I may be wrong (I am a newbie as well)

If at an uptrend and market goes and adjusts to non , a retracement to 2800 out of state a large of 3000 and low of 2500 would be in the 61.8% area (approx) but it might be weird if you said the retracement was 23.6%.


You're correct about plotting the swing high/lows. Just remember the short cut: When drawing on a swing low to high in the case of an uptrend start at the base and move up just like the trend motion. Reverse this for a short move. This seems more like it when I plot it onto a chart.

Cheers
Mike

[ina99]

I believe when it's 50% it's a fair statement, but wouldn't think so if you're discussing other people

Just my 2 cents, I may be wrong (I am a newbie too)

If at an uptrend and market goes and adjusts to low , a retracement to 2800 out of state a large of 3000 and low of 2500 are in the 61.8% area (approx) but it would be weird if you stated the retracement was 23.6 percent.

Cheers
Mike Mike, what Dopey is stating is proportionally the 38.2and the 61.8 are at precisely the same region at opposite ends. As well as the 23.6 and 78.4 are the same manner.

So, it is fairly simple to keep it clear in one's mind whether it is a 61.8 or even a 38.2 and from which direction. It could be a 23.6 and 61.8

However, It's likely to be a confluence of 38.2 and 61.8 of a bigger amount pivot from the focus stage

[sarbowsky11]

Yep, what he said.

[anpknio.abs]

Mike, what Dopey is stating is proportionally the 38.2along with the 61.8 are at the exact same place at opposite ends. And the 23.6 and 78.4 are the exact same way.

Therefore, it's fairly easy to keep it clear in one's mind whether it's a 61.8 or even a 38.2 and from which direction. It never could be a 23.6 and 61.8

However, it's possible to be a confluence of 38.2 and 61.8 of a smaller amount pivot out of the focus stage thanks to the insight.

By how exactly does 1kt mean ? Alongside yours and dopey's name

[ina99]

No problem... A fantastic book on the topic is Joe DiNapoli's book It is a bit expensive though, I believe that it is roughly $160.

That the 1KT is here https://www.cliqforex.com/general-forex-discussion/2798-fx-30-yr-notes.html

[anpknio.abs]

thanks scott!

[oxr321]

If you really wanna wet your noodle, try taking square roots of fibs and plotting those ratios. All of a sudden a whole new series of numbers emerges. Some of which are much more powerful than the first.

Or doubling up the fib amounts. 1,3,5,8,13,21,34,55 now become 2,6,10,16,26,42,68,110.

So far as plotting the high/low, I have come to the conclusion that while you can optionally employ fib ratios to some range and also have harmonic proportion there is a grander scheme at work and grander cycles that are not random. To quote Gann, In order to forecast long term cycles, the most important thing is to start, for if we have the right start, we will find the perfect ending. If we understand the cause of the impact there may be no uncertainty about predicting future event or effect.

[PkbinFrttt]

OK, You got My noodle Wet. But I want More.

How much work do you do with Fibs AND...
How can you change the Sequence to live in this FX World?

[oxr321]

OK You got My noodle Wet. However, I desire More.

How much work have you done with Fibs AND...
How can you alter the Sequence to best live in this FX Earth? It is not so much shing it as it is showing what's already there. How's that for immediate and to the point?

I will write up some more tomorrow. I've got a paper I'm far behind on writing. Man, I wish I'd have just finished school once I was in my 20's. Doing the course thing about the a$$ end of my 30's sucks worse than it did then!

[PkbinFrttt]

It's not so much shing it because it is showing what is already there. How's that for direct and to the point?

I will write up a few more tomorrow. I've got a paper I'm far behind on writing. Man, I wish I'd have just finished school when I was in my 20's. Doing the class thing on the a$$ end of my 30's sucks worse than it did then! Hey JR the only thing I can conceive of you having problems in would be Foriegn Language since you've got alraeady submittied Math and Sociail for I award an 'A'.

[oxr321]

It is extremely difficult for me to enter without creating a book. So I will let a picture tell a couple thousand words.

Http://www.bryce-gilmore.com/dtpa001.JPG
http://www.bryce-gilmore.com/bgbook.htm

I haven't read a lot of his things but the pic on his site tells a lot.

That explains square rooting prime fib numbers as well as the golden ratio.
But also take the opportunity to square root some of those fib ratios themselves. .382,.618, etc.. See what you get and plot them. Maybe squar root them two or three occasions.

I will attempt to be less cryptic about the doubled up fib numbers. When doing pub counts swings and pivots, the fib numbers will develop a lot. Every now and then there'll be a couple of points that don't workout to fib numbers all the way around. More likely than not those who don't workout will be the fibs doubled up. But don't restrict it there. Rather than rooting try squaring fib numbers. ie 4,9,25,64, etc.. Furthermore, if squaring, just take the normal sequence and those workout a lot too. 4,9,16,25,36,49, etc And don't forget the grand daddy 144.

You draw enough lines and rely enough pubs, something is going to hit and it seems like crap. But should you begin right you can end right. And if you end right, you know where to begin again and so it goes. It can be a lot of work but once you work out it there'll be times when time and space unfold and you select a price and a period way beforehand sometimes months or even yeas beforehand and it claws bang on. Call it luck after, however what about the third time? The time? Then you're hooked.

I might talk a fantastic game, but I am still relatively new to this stuff. I've been at it for approximately 3 decades now and I can't get away from it even when I've avoided charts for 6 months!

[rafioxrtins_]

1 Attachment(s)
Okay another embarassing question. When plotting fibonacci levels I am confused.

My understanding when looking at fib retracement levels is you always begin at the swing low and then the swing high. For me this usually means that fib degree 100 is always on the bottom of my chart and 0 is on very top of my chart. Yet some charts I discovered have 0 at the bottom and 100 at the very top. This should not matter right?

Where do fib extension levels come in? Are fib's called retracement degrees when in an uptrend and extensions when in a downward trend? Lets Make it Easier to comprehend that this is how you have to plot a Fibo I hope it helps ...
https://www.cliqforex.com/trading-system-and-egies/2822-euro-yen-live-5-min-scalping.html

[Arrtta]

1 Attachment(s) Saskgui, there's absolutely no point of being ashamed as far as drawing Fibonacci retracement is concerned since it appears little complied at the start.

Here is what you need to do. Figure out the trend first. If it is an uptrend, start drawing on your Fibonacci retracement from the point of higher high. The level will be marked as 100. Come way down to the stage of lower low; seemingly there will be indied as 0.

On a down trend, you need to do the opposite. Here's a good instance of drawing Fibonacci retracement on down trend.

As soon as you have drawn Fibonacci retracement, you receive levels for example 0, 23.6, 38.2, 61.8, 76.4, 100, 138.2, and 161.8. These amounts are incredibly significant to establish stop loss and take profit.

It's possible to get these levels from here as well: http://www.forexrazor.com/en-us/tools/resources/fibonacci-calculator.aspx This instrument computes those amounts that you may discover handy. Hope this helps.

[crispkbalduranrey]

Ok another embarassing question. When plotting fibonacci levels I am confused.

My understanding when searching at fib retracement levels is you always begin at the swing low and the swing top. For me this means that fib degree 100 is on the bottom of my chart and 0 is on top of my chart. Yet some charts I noticed have 0 in the bottom and 100 in the top. This should not matter right?

Where do fib extension levels come in? Are fib's called retracement levels when in an uptrend and whistles when in a down trend? You're right about plotting the swing high/lows. Just bear in mind the short cut: When drawing a swing low to high in the case of an uptrend begin at the bottom and move up just like the trend movement. Reverse this for a short move.

The higher % fibs are just how much the move could retrace with 100% being the greatest. Hope that helps...