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Fibonacci Spirals - How to use them in daily trading
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Fibonacci Spirals - How to use them in daily trading

  #11 (permalink)
Market Wizard
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trendisyourfriend View Post
Can you show the current state of affairs on the ES using your spiral?

Hi trendisyourfriend

Here the 30min ES with the same days like above example of the Dax:

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We see some differences but the price has anchor points at the spiral too.

GFIs1

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  #12 (permalink)
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trendisyourfriend View Post
Can you show the current state of affairs on the ES using your spiral?

Fib Circles in NT on 1440 min ES chart.

(I don't use this... FWIW)

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The bigger picture: DAX


Here a view on the daily chart: price is at the black part of the spiral.
Normally that means some consolidation and some way up again.

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GFIs1

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Usefulness

This thread is about the usefulness of the spiral tool in trading.

We have looked at the 30 minute and the daily chart.
Both show the trend (here short) as well as some reversals.

With both charts one can set some swing trades over several
days in the 30m or over several weeks in the daily.

Will be interesting to see some live trades here on both timeframes.

GFIs1

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GFIs1 View Post
This thread is about the usefulness of the spiral tool in trading.

We have looked at the 30 minute and the daily chart.
Both show the trend (here short) as well as some reversals.

With both charts one can set some swing trades over several
days in the 30m or over several weeks in the daily.

Will be interesting to see some live trades here on both timeframes.

GFIs1

Will be interesting to see the proper long/short spirals used. I certainly never rated the half-baked Fib Circles or Fib Time tools in Ninja.

I read Carolan's book donkey's years ago, interesting but a bit too arcane (even for me, ha).

Good hunting!

Cheers

Travel Well
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ratfink View Post
Will be interesting to see the proper long/short spirals used. I certainly never rated the half-baked Fib Circles or Fib Time tools in Ninja.

Cheers

Watching both charts - the one of Dax and the other with ES:
Looks like the Dax is easily readable in both time frames.

As I am trading the Dax only - this will be of big help.
So lets probe some swings here

GFIs1


Last edited by GFIs1; January 17th, 2016 at 07:13 AM.
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DavidHP View Post
Fib Circles in NT on 1440 min ES chart.

Thanks David for the chart

In fact we are talking about two different fibonacci tools:
You plotted the fib "circles" while I show the fib "spiral".
These are two very different approaches: the spiral has
only ONE line - while the circles are all independent.

Looking at price moving along the spiral or crossing from
inner to outer line - sometimes crossing with momentum
then we see some repetitive character.

Here some overview: https://en.wikipedia.org/wiki/Fibonacci_number
Watch the two pics on the first page.

GFIs1

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GFIs1 View Post
The chart needs do be squared. Any distortion and the spiral does not sit correct on underlying data.
You are right that time on this fib tool is also very important.
Some regular "update" or setting a new spiral from the next bigger turning point is necessary.
But the results are very good and the trader "sees" what the market is playing out.

GFIs1

What does "squared" mean?

Bob.

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bobwest View Post
What does "squared" mean?

Bob.

Chart should be aligned "automatic" - and not squeezed or extended manually.
Otherwise the spiral on a distorted chart can give wrong results.

GFIs1

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Thanks for opening this topic, @GFIs1.

I'll be following with interest, to see what I can make of it. I do think fib-ish stuff is interesting, but I always wonder how to make use of it ahead of time. The fact that many times it seems to work out has always intrigued me, but there's the question of how to predict the future and not the past, if you follow me. That is not, however, a criticism, just a question. I'll watch and see how it works out.

Anything that works is good.

Bob.

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