NexusFi: Find Your Edge


Home Menu

 


Quotes by TradingView
Go Back   >  Trading Journals  > 



Fibonacci Spirals - How to use them in daily trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one GFIs1 with 26 posts (49 thanks)
    2. looks_two srgtroy with 7 posts (11 thanks)
    3. looks_3 bmtrading9 with 6 posts (3 thanks)
    4. looks_4 Jaap8242 with 3 posts (6 thanks)
      Best Posters
    1. looks_one Jaap8242 with 2 thanks per post
    2. looks_two trendisyourfriend with 2 thanks per post
    3. looks_3 GFIs1 with 1.9 thanks per post
    4. looks_4 srgtroy with 1.6 thanks per post
    1. trending_up 36,422 views
    2. thumb_up 87 thanks given
    3. group 15 followers
    1. forum 55 posts
    2. attach_file 9 attachments




Page 2 of 6 1 234 Last »
 
Search this Thread

Fibonacci Spirals - How to use them in daily trading

  #11 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,935 since Feb 2012
Thanks Given: 6,196
Thanks Received: 15,593


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:



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

GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Better Renko Gaps
The Elite Circle
Pivot Indicator like the old SwingTemp by Big Mike
NinjaTrader
NexusFi Journal Challenge - May 2024
Feedback and Announcements
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Trade idea based off three indicators.
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Spoo-nalysis ES e-mini futures S&P 500
36 thanks
Just another trading journal: PA, Wyckoff & Trends
30 thanks
Tao te Trade: way of the WLD
24 thanks
Bigger Wins or Fewer Losses?
23 thanks
GFIs1 1 DAX trade per day journal
21 thanks
  #12 (permalink)
 
DavidHP's Avatar
 DavidHP 
Isla Mujeres, MX
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
Frequency: Every few days
Duration: Minutes
Posts: 1,611 since Aug 2009
Thanks Given: 11,341
Thanks Received: 2,744


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)

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Follow me on Twitter Reply With Quote
Thanked by:
  #13 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,935 since Feb 2012
Thanks Given: 6,196
Thanks Received: 15,593


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.




GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #14 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,935 since Feb 2012
Thanks Given: 6,196
Thanks Received: 15,593

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

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #15 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425


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
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #16 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,935 since Feb 2012
Thanks Given: 6,196
Thanks Received: 15,593


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

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #17 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,935 since Feb 2012
Thanks Given: 6,196
Thanks Received: 15,593


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

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #18 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,168 since Jan 2013
Thanks Given: 57,464
Thanks Received: 26,278


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.

Reply With Quote
  #19 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,935 since Feb 2012
Thanks Given: 6,196
Thanks Received: 15,593


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

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #20 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,168 since Jan 2013
Thanks Given: 57,464
Thanks Received: 26,278


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.

Reply With Quote
Thanked by:

Page 2 of 6 1 234 Last »



Last Updated on March 10, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts