How do you determine if you should draw your retracement from top to bottom or from bottom to top? What indicator do you use to tell you whether you should plot your A to B as a downtrend or your A to B as an uptrend? Thank you.
@FXSwissTrader I use the prior trend, or when it doubt check a higher timeframe. You can also apply the Elliott Wave count of "3 up, 2 down" to determine where you are within the sequence.
Hello knight, nice Video. However, I can't figure out how you get the fibo scale above 100%, that is I see it start from 0% going up then when you establish point C, you say it goes to 161.8% which is below zero. Im using MT4 but cant't get that scale, my scale keeps going up starting from zero but nothing below zero. Am I supposed to use 2 scales ? appreciate the help, Thanks
@rockethead555 Visit our website, go in the free Forum, then in the Systems & Strategies section, and you'll see an article at the very top about Fibs that will tell you step by step how to make the modification. All we're doing is showing the Fibonacci retracements + extensions with a single mouse-click.
@fxKnight thanks for the response. Hey a quick question where does the 78.6% come from? I can't figure out where you guys get it, doesn't seem to result from a quotient. I know 50% is not a Fibo number either but used bec of convenience and practical reason. I'm trying to guess it comes from adding two previous fractions? 0.0557, 0.0902, 0.1458, 0.2359, 0.3818, 0.6177, 1.6180, 2.6180, 4.2360, 6.8541 I get all these from quotients . . .
@rockethead555 visit our website, click on Forum, then Strategies, and look for the Fibonacci thread at the very top... you'll find all the Fibonacci formulas. Bottom line, it works... try it out on some charts and you'll see. Where the levels come from is really secondary.
mr knight.. great, great vid. ive watched it over and over again and each time i find something new in the video.but i do have a quick question.i can see how you find your points A and B.. but what im finding difficult is how do you confirm that point C will stick. Do you look for a certain candle to form at point C or do you look for the price to cross a moving average. Whats your particular confirmation. Very eager to read your response. thank you again for an A+ video.. Cheers..
@MYNEWMOKE You're trying to "anticipate" point C - you actually DON'T know for sure until after it happens (that's the very definition of a reversal). No need to catch the perfect top & bottom... the SAFE pips are in the middle! :)
I think the first rule in making a particular transaction being strategy.I think our emotions and our logic is impossible without a strategy to stand in the face of :) At the very least the case for me.Everyone must create its own strategy, or the rules .
Hi. 100% agree. I saw this binoptrader platform few weeks ago. It is simple to understand and there are lots of opportunities to make nice profits when the markets moves fast and the volatility is high.
@papismadze its honest for now, cause its a new thing, im afraid in 3-4 years it will be full of scams just like forex, enjoy as long as you can!! :-)
@23goBULLS thats right enjoy it TODAY! you had nice trades this week on the most popular EUR\USD, i also like russian stocks but its my personal trades :-)
@papismadze you can use their platform only in the resistance\support areas, forex brockers usually throw you out there cause they see your stops, but in binary options it works MUCH BETTER if you believe in turnaround
@freeSCALPINGindicato Scalping is actually much harder to do for average retail investors,...for one each trade triggers a commission so unless you have a lot of cha-ching to trade it tends to eat up profits in a hurry. Just my 2 cents. Trend trading is generally safer and easier to trade but I am all for trying scalping if it's practical and feasible. All the best trading.
what?! these arn't even live trades, your simply looking back on your old charts, finding potential trades and claiming you took them... how does that make sense?
@digitalsoul18 yeah thats what i thought,i remember seeing this when i first started learning 3monthes ago,im still learning but,this dose look a bit crap now i know a fair bit of how trading the market works.
@750nutcase One man's "crap" is another man's money machine. If you've found a system that works for you, GREAT - I wish you healthy & steady profits. But you can't really call another system "crap" unless you've spent some time using it. There are MANY ways to make money in the markets - this is but one of them.
@digitalsoul18 Not true at all... all videos were based on actual trades taken. Filmed after the fact, sure, my camera doesn't have a "film the future" button. But we spend each and every day looking at LIVE trades in our Pro room!
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great vid ~ i've reviewed this countless times. this really works best when during trading hours with high volume. it's really best to know 1 market's attitude & feel because each market will make these points in their own style. this is great truth ~ i find your presentations the most valuable online, great info & very useful strategies
great vid ~ i've reviewed this countless times. this really works best when during trading hours with high volume. it's really best to know 1 market's attitude & feel because each market will make these points in their own style. this is great truth ~ i find your presentations the most valuable online, great info & very useful strategies
I doubted this strategy until I had three out of four profitable trades using it. The main thing that I like about it is that it slows me from impulsively entering the market at the worst possible times. I used to short at the bottom of the daily range thinking that the trend would continue forever. Conversely, I would go long on a breakout above the resistance line. Anyway, you have to use other indicators when using this method, and of course you need to know when the ABCD setup is void.
gusbariga you are just trading 5 months and you are bashing people in the business for years. you dont start making real money till you been trading 5 yrs + and blown out 5 accounts. So shill out and learn something here.
@watchdaride lol im 22 years and i have been trading for 2 years, im certainly not making losses in comparasion to my wins. that 5 years BS is an illusion. Trading is simple when you dont try to complicate it with lagging indicators. Simply understanding supply and demand and its affect on price is enough. Maybe i was wrong to "bash" but trust me, i dont need to learn anything new, just focus on patience and discipline.
It would be good if these so-called professional traders could just give advice free because it all reeks of a sales pitch. Most of the comments are also sales pitches, either from the same person, or from other "professionals". If they were all professionals and so successful they wouldn't need to bother with trying to sell their strategies. When I find a strategy that works consistently for me I will keep it to myself and use it until I become a multi millionaire or die. Too many deadbeats
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For those interested the ABCD pattern was made famous by Larry Pesavento in his book "Fibonacci Ratios with Pattern Recognition." There's a lot more theory and specifics to using and identifying the pattern than what's presented here.
Also, "geometric price patterns" like these were also well researched by Gartley (Gartley Patterns).
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Nice vid I used 1.618 as target all the time, with super tight stop above or below the A by 1 pip LOL
I've been using the ABCD's for years and works well on 5 min charts, however as I see on your system you use several other indicators to determine direction, not typical of an ABCD which I do as well.
What is the main indicator you use to determine an A
I was looking for something that would keep me out of false AB's
Hi, ABCD, looks and sounds good, but I find point C a bit weak!
On the video, of course its easy to show where point C and therefore fib levels were, but on the spot, you dont know if price will retrace till 38, 50 or 61%! You might enter at 38 and then see price going all the way to 61 or even further to jeopardize the trade.
Im just saying that by the time C is confirmed, it is already too late!
those candle sticks are too good to be true for a 5 minute chart..This is one of those good days that come once in a week and you were out drinking beer
When i started trading 3months ago, i thought your video was cool but now it seems so lame. I really doubt if you are a consistently profitable trader. trading isn't only about the fibonacci. fibonacci is secundary at best and must be used in the right way. which is in accordance with proper supply and demand anaylsis. The reason price fell is not because you measured it with your fibo. Its because their was more supply at that level than demand. ppl go read ur economics 101 from highschool
Fibs are a toll for ONE specific purpose: finding targets. Fibs alone are NOT a trading system. Gus... I agree with everything you said, mate. But, hey, it's a 10-minute video, not a complete course. Visit our website for lots more free stuff to help your journey.
@GusBariga mate, from only 3 months of fxtrading i think there is still more to know. the 61.8 fib is a pretty siginificant point. i woudnt use the 1000 indicators that the 'fxknight' uses but fibs are pretty important tool.
@digitalsoul18 i agree all indicators are useful if you apply them the right way. I think i know all i need to know for trading. Simple supply and demand analysis.
@Digadogup well i got started by watchin all the youtube videos and reading all sorts of nonsensical e-books, which of course didnt get me anywhere because there was little logic in them. Dont get me wrong there are some good videos like fxtrader on support en resistance and Yourtradingcoach on candlesticks and S and R as well but the rest is BS, trust me. All you need to do is research supply and demand and specifically its affect on prices in forex or any market. Buy low, sell high (trends!).
@GusBariga suggesting that applying high school level economics is sufficient enough for consistently profitable trading is laughable and shows your own ignorance to the market and how it truly works. I'm very interesting in knowing how and from where you get this great, up-to-the-minute "supply and demand" information from that us veteran traders have forgotten from high school. As you even stated yourself, fibonacci is a secondary tool that must be "used in the right way".
@ForexNation No ignorance, "movement of price in any and all 'free' markets is a simple function of supply and demand. Opportunity exists when this relationship is out of balance". Trades simply need to understand the basis of supply and demand and then use that knowledge to quantify it on a price chart. when one can quantify institutional demand and supply(risk) on a trading chart, and the only difficult thing left is to push the trade button(which is when indicators come into the picture).
@GusBariga SO TRUE !!!! Supply and Demand rule everything. You have to be able to find price at a point of where supply or demand is out of equilibrium because that is where price will drop and rise. And Like FxKnight said as well Fibs are just a tool to find targets however this tool can be very objective depending where exactly you put the fib lines at. Supply and Demand Rule however its much harder doing it than just saying it...lol
@nfc127 i fully agree with everything you said, seems to me like u r also a student of price movement and you know what you r talking about. since i posted those videos on my channel, i have learnt alot more about price movement and yes price was already at those levels 3 or 4 times prior to the video. just like you, i take the first retracements back to sufficient supply and demand levels. even better, i always stick with the trend for higher probability trades in that respect.
@johnosandra supply and demand analysis requires basis understandin of how and why prices move in any and all free markets. for example, the only reason why prices can drop from resistance is because supply exceeds demand. well the origin of that drop in price is where all the real supply is at so once price comes back to that level, ask urself who is buying there? that person is buying into resistance and buying after rise in price, i personally would take the other side of that trade and short
Hi black knight...i thank you so much for your videos..i sis subscribe and will watch all your videos..ive been demo trading for 6 months and will be going live with 1000$.Ive brought several 1000$ accounts to 30004 in 1 week and a 5000$ to 20,000$ in 68 days..but i will practice this fabonacci..thanks..one day i hope to make videos too..i beleive money can be made in forex..what broker do you use..so many and not all good,,peace
I personally use FXCM UK for our client accounts, along with FxPro for some of my own trading. Visit our site for more info and special offers from both.
I like to use support & resistance rather than arbitrary round numbers - decide which line price has to cross to prove your trade idea wrong, then put your stop on the other side, with a bit of extra padding.
Okay, I have to retract a few things, fxKnight knows how to trade it, but for a novice like me, that 61.8 line became the Panama Canal of drawdown only 2 pips from my stop and it eventually did break and I was so happy to take just sqeak out a few pips and keep the days profits, I suggest always ALWAYS papertrade any new unfamiliar idea or at least bet a lot less than usual.
Hi, i was wondering if all trading platforms give fibs beyond 100%. mine seems to give only upto 100% so I cannot see 138 or 161 as in this video. please ignore my ignorance !
Is there a web site or something where it shows in detail the institutional order flow for trades placed by the big boys such as DB, UBS, etc. I know that Nasdaq level 2 provides similar type of data for equities markets, but I never heard of something similar in fx.
that is because you cant see the order flow but why would you need to. Why does price move from one level to another? supply and demand from big institutions. At those levels where price screams away tells us that there is more of one and less of the other. i personally dont look at red and green candles but what is happening behind those candles.
It works about 77% of the time, and for the remaining 23% you can spot early reversals ahead of targets using indicators or candlestick formations - all else fails, there's always your stop. For finding A-B it is simply the start to end of the most recent move.
I use something similar to this and have had good success with it. D usually falls like a rock, little retrace. In fact, I have been using this for some time. Going up...choppy, coming down...usually like a rock.
this is a trade form 2 years ago... I hardly remember. :) In general, I like to put my stops on the other side of the closest support to resistance level form my entry, with some padding to account for the spread + market noise. We have free videos on our website which will show you how to fine tune both your stops and your entries.
This video is quite comical to me. I understand the fib retracements and extensions, however, you must realize in a choppy market this would pretty much go against you. In a trending market, I agree, this would definitely work. Let me know how you trade gbp/jpy now a days. I've been trading it everyday for past little while, and what you are talking about.... ain't gonna work man.
No, you're right... this is a trend-following pattern, so obviously works best in trends. For trading a range, you need a different strategy (we show some of them in free videos on our site). A successful trader adapts as market conditions change; that's why trading robots will always empty your account if you let them run long enough.
Why? To get people to sign up for pro services which give a more in depth guide as to how to actually trade the system effectively. A ten minute video is cool, but you need more practice than three trades to get used to it.
There is little point in scamming people by teaching them how to use these systems, it takes ten minutes to open a demo account with any broker to test the theory out.
No doubt there are people who do this, but it's relatively simple to check whether they're bullshitting.
naw i had to comment on passing...ya say "Only medium to long term trading makes money"....lol...i do 200+ a day...so i geuss 24 hour is long term...12 hour medium term!...thats' funny...gees i use a version of ABCDs to...lol...i drop the D.
So let me get this straight... you're frustrated with our own performance, and thus are upset because I try and help others. No one ever said YOU need to make it public, but I've had many requests from friends and traders to share my methods, so am doing so. Free speech, mate... and I intend to keep on helping.
Who said frustrated??? Amused is a more appropriate term. Like I said, charts are always easy in hindsight. But if it keeps you happy sure keep doing them why not!?
Charts are in hindsight because they're on VIDEO. But I do plenty of trading each and every day, as I've said, in real-time - using the EXACT same methods I teach. If you're sceptical, look up our site on some popular review websites, see what our students are saying.
Look I`m not sceptical nor frustrated and right now I`m short eur/usd and looking for 1.3400 in coming weeks - Yes a medium term position as it is only medium to long term trades that make good money! GBP/USD now has a bearish outside day, i.e., higher high, lower low, and looking like a lower close which for me is another opportunity.
Now you could show your real time trades if you really wanted by showing the chart as it is when you enter and then how it is a few hours later!
YouTube has a 10min limit on videos. I also trade mostly medium-long term, unless I'm stalking a news trade (as in THIS example). Right now, I'm not taking long-term trades, as everything is either at or near key Fibonacci levels (I find Fibs to be more precise than simple round numbers), and I'm waiting to see how the weekly candle closes. I *do* also post my long-term projections, which you can readily find on DailyFX, FXStreet, BabyPips, ForexPros, and the International Business Times.
technicals do not cause market movements - TRADERS do... but technicals can certainly help you interpret them. You find volume to be important?? Volume is the ONLY indicator which a) is not based on price and b) is not lagging. I find it to be critical in making trading decisions. The 21 and the 200 are by far the most important MAs, though I tend to look for clusters of multiple S/R levels more than anything else.
Please keep in mind this is ia full-screen charts compressed to a 320x240 YouTube video. Not ideal, though we'll see what we can do to improve it for future videos.
What about move stop at 78.6% of BC and make a gartley pattern? Aiming 1.27/38/62 seems only a possibility, far from a expect thing. Would love your comment on it. Later
Hi, you may want to check this site, there is a series of Andrei's webinars videos (the 3rd of which is coming out soon) but I believe you need to log in to attend the webinars, not so to watch the videos. Let me see if youtube allows the links. If so just remove the spaces. Finding the right points isn't very easy BTW but practice makes perfect! Good luck...
There are indicators to show you the overall trend of the market on a daily basis. Also, Andrei is suggesting here to trade the European market. The American market is, IMHO, the most difficult to trade using smaller time frames because of the news. A very basic indicator is the 10 period simple moving average of the close to determine the daily trend, along with, say, 21 RSI. But there are many other more complex (and effective) ways to determine the trend. Hope that helped.
That's right - you see C best in hindsight, but usually there are still more than enough pips left on the way to D. it is nto about nailing exact tops and bottoms (a gabler's game) but rather about getting the safe 90% of the pips in-between. :)
I hate to rain on the parade here..I like what you are trying to do..I just have 1 little problem. That wasn't live trading data, you can go into historical data and say "this would have worked here" and "It worked here too" but there will always be a roughly equal number of examples where it doesn't work. I will say though that since markets are fractal fibbo and Elliot waves do work, but they are no magic bullet. Chinkou span is a more reliable measure of S/R in my opinion.
Actually, it was Leonardo de Pisa's - over 800 years ago. Joe's a wonderful guy (and a very good friend of mine), but he didn't invent Fibs. And I don't believe I ever claimed to have either.
I doubt I'll be making any new videos before 2009, though will certainly keep it mind for future ones. I do a free Fib webinar on FXstreet every Friday - glad to look at charts in real-time with you. In the meantime, pull up a daily Dow chart and draw a Fib from 13131 to 10813 - you'll find that we've been ranging between the 161 and 200% extension levels for the past 3 weeks.
I've been experimenting with fibs in a similar way. I've been placing my fibs at the open, pulling them between s&r and trading accordingly after about the first hour. I will be watching more of your videos. Thanks for posting.
Thanks, your video was incredibly informative! I do have a question. Will you ever use a 50% "C" Retracement level for your entry point, or will you disregard it, or wait for it to come up to 38.2?
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Stochs and RSI are from the same group (oscillators), so essentially tell yo the same thing. MACD is good, it is from the other (trend-following group). For more info, please see our website, and click on Trading Academy (free).
How do you determine if you should draw your retracement from top to bottom or from bottom to top? What indicator do you use to tell you whether you should plot your A to B as a downtrend or your A to B as an uptrend? Thank you.
FXSwissTrader 1 month ago
@FXSwissTrader I use the prior trend, or when it doubt check a higher timeframe. You can also apply the Elliott Wave count of "3 up, 2 down" to determine where you are within the sequence.
fxKnight 1 month ago
Hello knight, nice Video. However, I can't figure out how you get the fibo scale above 100%, that is I see it start from 0% going up then when you establish point C, you say it goes to 161.8% which is below zero. Im using MT4 but cant't get that scale, my scale keeps going up starting from zero but nothing below zero. Am I supposed to use 2 scales ? appreciate the help, Thanks
rockethead555 2 months ago
@rockethead555 Visit our website, go in the free Forum, then in the Systems & Strategies section, and you'll see an article at the very top about Fibs that will tell you step by step how to make the modification. All we're doing is showing the Fibonacci retracements + extensions with a single mouse-click.
fxKnight 2 months ago
@fxKnight thanks for the response. Hey a quick question where does the 78.6% come from? I can't figure out where you guys get it, doesn't seem to result from a quotient. I know 50% is not a Fibo number either but used bec of convenience and practical reason. I'm trying to guess it comes from adding two previous fractions? 0.0557, 0.0902, 0.1458, 0.2359, 0.3818, 0.6177, 1.6180, 2.6180, 4.2360, 6.8541 I get all these from quotients . . .
rockethead555 2 months ago
@rockethead555 visit our website, click on Forum, then Strategies, and look for the Fibonacci thread at the very top... you'll find all the Fibonacci formulas. Bottom line, it works... try it out on some charts and you'll see. Where the levels come from is really secondary.
fxKnight 2 months ago
@rockethead555 click and drag to the desired level don't just click
luckykingkong 3 weeks ago
mr knight.. great, great vid. ive watched it over and over again and each time i find something new in the video.but i do have a quick question.i can see how you find your points A and B.. but what im finding difficult is how do you confirm that point C will stick. Do you look for a certain candle to form at point C or do you look for the price to cross a moving average. Whats your particular confirmation. Very eager to read your response. thank you again for an A+ video.. Cheers..
MYNEWMOKE 3 months ago
@MYNEWMOKE You're trying to "anticipate" point C - you actually DON'T know for sure until after it happens (that's the very definition of a reversal). No need to catch the perfect top & bottom... the SAFE pips are in the middle! :)
fxKnight 2 months ago
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jimmyshitbags 11 months ago
I think the first rule in making a particular transaction being strategy.I think our emotions and our logic is impossible without a strategy to stand in the face of :) At the very least the case for me.Everyone must create its own strategy, or the rules .
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alexshubin75 1 year ago
@papismadze its honest for now, cause its a new thing, im afraid in 3-4 years it will be full of scams just like forex, enjoy as long as you can!! :-)
23goBULLS 1 year ago 3
@23goBULLS thats right enjoy it TODAY! you had nice trades this week on the most popular EUR\USD, i also like russian stocks but its my personal trades :-)
papismadze 1 year ago
@papismadze you can use their platform only in the resistance\support areas, forex brockers usually throw you out there cause they see your stops, but in binary options it works MUCH BETTER if you believe in turnaround
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freeSCALPINGindicato 1 year ago
@freeSCALPINGindicato Scalping is actually much harder to do for average retail investors,...for one each trade triggers a commission so unless you have a lot of cha-ching to trade it tends to eat up profits in a hurry. Just my 2 cents. Trend trading is generally safer and easier to trade but I am all for trying scalping if it's practical and feasible. All the best trading.
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tester5469 1 year ago
what?! these arn't even live trades, your simply looking back on your old charts, finding potential trades and claiming you took them... how does that make sense?
digitalsoul18 1 year ago
@digitalsoul18 yeah thats what i thought,i remember seeing this when i first started learning 3monthes ago,im still learning but,this dose look a bit crap now i know a fair bit of how trading the market works.
750nutcase 1 year ago
@750nutcase One man's "crap" is another man's money machine. If you've found a system that works for you, GREAT - I wish you healthy & steady profits. But you can't really call another system "crap" unless you've spent some time using it. There are MANY ways to make money in the markets - this is but one of them.
fxKnight 3 months ago
@digitalsoul18 Not true at all... all videos were based on actual trades taken. Filmed after the fact, sure, my camera doesn't have a "film the future" button. But we spend each and every day looking at LIVE trades in our Pro room!
fxKnight 3 months ago
check my channel for video's about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
i0am0a0daytrader 1 year ago
where are your stops during all of this?
prosserd 1 year ago
where are your stops during all of this?
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jamesfariton 1 year ago
w w w .youtube.com/watch?v=8UkDrT4F_ag
This is a video of the best forex-trading company!
jamesfariton 1 year ago
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zadanov 1 year ago
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zadanov 1 year ago
Who speaks where puts points? Subconsciousness?
ZerroRozario 1 year ago
I just signed up with the Pro Training, thanks dear Andrei, I am loving it and learning a lot. Cheers, Lotus
LotusRain11 1 year ago
I've been using a forex bot that I got at bit(dot)ly/bUf58X to make me money in this market. It basically does all the work for you and there's a 100% refund if you don't like it! Thumps up if you've had a similar experience with this product!
mundaneaccountant23 1 year ago 4
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gonaidi 1 year ago
АНАЛИЗ МИРОВОГО РЫНКА
marketingforecast.blogspot.com
Прогноз рыночной конъюнктуры. Анализ мировых индексов. Котировки акций крупнейших компаний. Эффективные финансовые инвестиции. Прогноз цен на товарном, сырьевом и аграрном рынках. Аналитика драгоценных металлов. Динамика курсов основных валют. Мировые финансовые рынки. Информация для инвесторов и трейдеров.
olegirpen 1 year ago
АНАЛИЗ МИРОВОГО РЫНКА
marketingforecast.blogspot.com
Прогноз рыночной конъюнктуры. Анализ мировых индексов. Котировки акций крупнейших компаний. Эффективные финансовые инвестиции. Прогноз цен на товарном, сырьевом и аграрном рынках. Аналитика драгоценных металлов. Динамика курсов основных валют. Мировые финансовые рынки. Информация для инвесторов и трейдеров.
olegirpen 1 year ago
if you want to go to a live training event teaching FOREX swing trading email me and ill tell you when the next weekend webinar is on.. register2pfr@gmail.com
register2pfr 1 year ago
great vid ~ i've reviewed this countless times. this really works best when during trading hours with high volume. it's really best to know 1 market's attitude & feel because each market will make these points in their own style. this is great truth ~ i find your presentations the most valuable online, great info & very useful strategies
caesarjamesaugustus 1 year ago
great vid ~ i've reviewed this countless times. this really works best when during trading hours with high volume. it's really best to know 1 market's attitude & feel because each market will make these points in their own style. this is great truth ~ i find your presentations the most valuable online, great info & very useful strategies
caesarjamesaugustus 1 year ago
I doubted this strategy until I had three out of four profitable trades using it. The main thing that I like about it is that it slows me from impulsively entering the market at the worst possible times. I used to short at the bottom of the daily range thinking that the trend would continue forever. Conversely, I would go long on a breakout above the resistance line. Anyway, you have to use other indicators when using this method, and of course you need to know when the ABCD setup is void.
lefsepowered 1 year ago
HOW REAL CAN BE THIS SYSTEM I DONT KNOW IVE TRIED ANOTHER ONE BEFORE AND DIDNT WORK
TheDebtCollectorss 1 year ago
@TheDebtCollectorss How about trying it and THEN judging it? :)
fxKnight 3 months ago
gusbariga you are just trading 5 months and you are bashing people in the business for years. you dont start making real money till you been trading 5 yrs + and blown out 5 accounts. So shill out and learn something here.
watchdaride 1 year ago
@watchdaride lol im 22 years and i have been trading for 2 years, im certainly not making losses in comparasion to my wins. that 5 years BS is an illusion. Trading is simple when you dont try to complicate it with lagging indicators. Simply understanding supply and demand and its affect on price is enough. Maybe i was wrong to "bash" but trust me, i dont need to learn anything new, just focus on patience and discipline.
GusBariga 1 year ago
It would be good if these so-called professional traders could just give advice free because it all reeks of a sales pitch. Most of the comments are also sales pitches, either from the same person, or from other "professionals". If they were all professionals and so successful they wouldn't need to bother with trying to sell their strategies. When I find a strategy that works consistently for me I will keep it to myself and use it until I become a multi millionaire or die. Too many deadbeats
beermn45 1 year ago
@beermn45 You'll find plenty of free videos & webinars on our website, mate.
fxKnight 3 months ago
is this method applicable for other chart frames?
do we have to break MVA 200 ?
aqeel3344 1 year ago
check my channel for video's about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
i0am0a0daytrader 1 year ago
check my channel for video's about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
i0am0a0daytrader 1 year ago
For those interested the ABCD pattern was made famous by Larry Pesavento in his book "Fibonacci Ratios with Pattern Recognition." There's a lot more theory and specifics to using and identifying the pattern than what's presented here.
Also, "geometric price patterns" like these were also well researched by Gartley (Gartley Patterns).
kosai19 1 year ago
Just a comment but removing the grid lines and a few other items you don't need would have really helped to make this video clear.
It's just a jumble of lines right now. Just a tip for presentation... cheers.
kosai19 1 year ago
check my channel for video's about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.) and make money with trading!
Read also reviews about different brokers here (for great BONUSES)
i0am0a0daytrader 1 year ago
check my channel for video's about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
i0am0a0daytrader 1 year ago
check my channel for video's about daytrading and trade like me in forex (EUR/USD, CAD/JPY etc.), stocks (coca-cola, phillips etc.), commodities (gold, silver, oil etc.) and indices (Nasdaq, Nikkei etc.
i0am0a0daytrader 1 year ago
i cant see with all those damn lines in the middle
socp01 1 year ago
Nice vid I used 1.618 as target all the time, with super tight stop above or below the A by 1 pip LOL
I've been using the ABCD's for years and works well on 5 min charts, however as I see on your system you use several other indicators to determine direction, not typical of an ABCD which I do as well.
What is the main indicator you use to determine an A
I was looking for something that would keep me out of false AB's
Shleeshtak 1 year ago
watch my channel for video's about daytrading and make money with trading! Read also reviews about different brokers here.
i0am0a0daytrader 1 year ago
Hi, ABCD, looks and sounds good, but I find point C a bit weak!
On the video, of course its easy to show where point C and therefore fib levels were, but on the spot, you dont know if price will retrace till 38, 50 or 61%! You might enter at 38 and then see price going all the way to 61 or even further to jeopardize the trade.
Im just saying that by the time C is confirmed, it is already too late!
Wish I was wrong!
astrov83 1 year ago
why do all thes guys have Russian accents? its not obvious, but its THERE lol
op684 1 year ago
watch my channel for more video's about daytrading and read reviews about different brokers.
i0am0a0daytrader 1 year ago
those candle sticks are too good to be true for a 5 minute chart..This is one of those good days that come once in a week and you were out drinking beer
frequenceez 1 year ago
good i agree whit u bro
densu2008 2 years ago
i agree with you very much. i personally would take the other side of the trade with anyone using conventional indicators in the wrong way.
GusBariga 2 years ago
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rocwellfx 2 years ago
When i started trading 3months ago, i thought your video was cool but now it seems so lame. I really doubt if you are a consistently profitable trader. trading isn't only about the fibonacci. fibonacci is secundary at best and must be used in the right way. which is in accordance with proper supply and demand anaylsis. The reason price fell is not because you measured it with your fibo. Its because their was more supply at that level than demand. ppl go read ur economics 101 from highschool
GusBariga 2 years ago 3
Fibs are a toll for ONE specific purpose: finding targets. Fibs alone are NOT a trading system. Gus... I agree with everything you said, mate. But, hey, it's a 10-minute video, not a complete course. Visit our website for lots more free stuff to help your journey.
fxKnight 2 years ago
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papismadze 1 year ago
@fxKnight Great reply. Very humble approach to such a comment.
johnnyflowerboy 10 months ago
@GusBariga mate, from only 3 months of fxtrading i think there is still more to know. the 61.8 fib is a pretty siginificant point. i woudnt use the 1000 indicators that the 'fxknight' uses but fibs are pretty important tool.
digitalsoul18 1 year ago
@digitalsoul18 i agree all indicators are useful if you apply them the right way. I think i know all i need to know for trading. Simple supply and demand analysis.
GusBariga 1 year ago
@GusBariga just wondering how did you get started , did u have someone teach you or did u learn from videos , books .
Digadogup 1 year ago
@Digadogup well i got started by watchin all the youtube videos and reading all sorts of nonsensical e-books, which of course didnt get me anywhere because there was little logic in them. Dont get me wrong there are some good videos like fxtrader on support en resistance and Yourtradingcoach on candlesticks and S and R as well but the rest is BS, trust me. All you need to do is research supply and demand and specifically its affect on prices in forex or any market. Buy low, sell high (trends!).
GusBariga 1 year ago
@GusBariga suggesting that applying high school level economics is sufficient enough for consistently profitable trading is laughable and shows your own ignorance to the market and how it truly works. I'm very interesting in knowing how and from where you get this great, up-to-the-minute "supply and demand" information from that us veteran traders have forgotten from high school. As you even stated yourself, fibonacci is a secondary tool that must be "used in the right way".
ForexNation 1 year ago
@ForexNation No ignorance, "movement of price in any and all 'free' markets is a simple function of supply and demand. Opportunity exists when this relationship is out of balance". Trades simply need to understand the basis of supply and demand and then use that knowledge to quantify it on a price chart. when one can quantify institutional demand and supply(risk) on a trading chart, and the only difficult thing left is to push the trade button(which is when indicators come into the picture).
GusBariga 1 year ago
@GusBariga SO TRUE !!!! Supply and Demand rule everything. You have to be able to find price at a point of where supply or demand is out of equilibrium because that is where price will drop and rise. And Like FxKnight said as well Fibs are just a tool to find targets however this tool can be very objective depending where exactly you put the fib lines at. Supply and Demand Rule however its much harder doing it than just saying it...lol
nfc127 1 year ago
@nfc127 i fully agree with everything you said, seems to me like u r also a student of price movement and you know what you r talking about. since i posted those videos on my channel, i have learnt alot more about price movement and yes price was already at those levels 3 or 4 times prior to the video. just like you, i take the first retracements back to sufficient supply and demand levels. even better, i always stick with the trend for higher probability trades in that respect.
GusBariga 1 year ago
@GusBariga 3 months trading wow !!! Can the black knight please stand down !
realmadridvideos 1 year ago
@GusBariga please define proper supply and demand anaylsis
key points and catch 22s
if you where so noble to reply to this comment then for that i thank you
johnosandra 9 months ago
@johnosandra supply and demand analysis requires basis understandin of how and why prices move in any and all free markets. for example, the only reason why prices can drop from resistance is because supply exceeds demand. well the origin of that drop in price is where all the real supply is at so once price comes back to that level, ask urself who is buying there? that person is buying into resistance and buying after rise in price, i personally would take the other side of that trade and short
GusBariga 8 months ago
@GusBariga thank you
johnosandra 8 months ago
hey thx 4 ur videos it help me a lot...hey what u think about alpari..........
playergame06 2 years ago
Hi black knight...i thank you so much for your videos..i sis subscribe and will watch all your videos..ive been demo trading for 6 months and will be going live with 1000$.Ive brought several 1000$ accounts to 30004 in 1 week and a 5000$ to 20,000$ in 68 days..but i will practice this fabonacci..thanks..one day i hope to make videos too..i beleive money can be made in forex..what broker do you use..so many and not all good,,peace
hondomax 2 years ago
I personally use FXCM UK for our client accounts, along with FxPro for some of my own trading. Visit our site for more info and special offers from both.
fxKnight 2 years ago
Where is a good place to set the stop? On GBP/USD something like 10-15 points from the entry fib line?
mrmonil1 2 years ago
I like to use support & resistance rather than arbitrary round numbers - decide which line price has to cross to prove your trade idea wrong, then put your stop on the other side, with a bit of extra padding.
fxKnight 2 years ago 2
@fxKnight could you please convey that answer again with more content
johnosandra 9 months ago
@johnosandra to which question, sir? I recommend contacting support at fxKnight dot c o m so we can get you answered in detail. Cheers.
fxKnight 9 months ago
Okay, I have to retract a few things, fxKnight knows how to trade it, but for a novice like me, that 61.8 line became the Panama Canal of drawdown only 2 pips from my stop and it eventually did break and I was so happy to take just sqeak out a few pips and keep the days profits, I suggest always ALWAYS papertrade any new unfamiliar idea or at least bet a lot less than usual.
jgray110 2 years ago
Biggest mistake I made today listening to this, just what I didn't want to do, lose all the profits from indicators I made today
jgray110 2 years ago
Hi, i was wondering if all trading platforms give fibs beyond 100%. mine seems to give only upto 100% so I cannot see 138 or 161 as in this video. please ignore my ignorance !
diffonyahoo 2 years ago
We show you how to set it up on our website... visit the Forum, then click on Systems & Strategies
fxKnight 2 years ago
Nice Post :) Check out my channel, Ill try to become Millionaire in one year by Daytading.Ill post daily updates.
Regards,
Daytrademillionaire
DaytradeMillionaire 2 years ago
that's nice
igoditigodit 2 years ago
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jharveyatkinson 2 years ago
Do you ever trade Tandum with EUR/JPY
ForexTradingTV 2 years ago
The "Black Knight"....... lol....
ForexTradingTV 2 years ago
Is there a web site or something where it shows in detail the institutional order flow for trades placed by the big boys such as DB, UBS, etc. I know that Nasdaq level 2 provides similar type of data for equities markets, but I never heard of something similar in fx.
MasterBlasterSteele 2 years ago
that is because you cant see the order flow but why would you need to. Why does price move from one level to another? supply and demand from big institutions. At those levels where price screams away tells us that there is more of one and less of the other. i personally dont look at red and green candles but what is happening behind those candles.
GusBariga 2 years ago
Use a forex account demo here: forexaccountdemo*com
before committing to using your hard earned cash
Farcry2DOTorg 2 years ago
i'm impressed by how well ths worked in the vid.
what's the approx. failure rate?
what do you usually do to determine point A; starting just from the open as you did here? do you use your gauges/m.a strategies? or something else?
as always, your efforts are much appreciated
Ranterd 2 years ago
It works about 77% of the time, and for the remaining 23% you can spot early reversals ahead of targets using indicators or candlestick formations - all else fails, there's always your stop. For finding A-B it is simply the start to end of the most recent move.
fxKnight 2 years ago
great video i have value information about the topic if you want learn more you have an open invitation
forextrading11 2 years ago
I use something similar to this and have had good success with it. D usually falls like a rock, little retrace. In fact, I have been using this for some time. Going up...choppy, coming down...usually like a rock.
Lynn
GSDOINDIA 2 years ago
black knight....
what a geek
robjanson 2 years ago
Thanks for sharing this strategy.
Question: where would you set your stop loss? 5-10 pips above "C", where you get in?
Mrbignutzful 2 years ago
this is a trade form 2 years ago... I hardly remember. :) In general, I like to put my stops on the other side of the closest support to resistance level form my entry, with some padding to account for the spread + market noise. We have free videos on our website which will show you how to fine tune both your stops and your entries.
fxKnight 2 years ago
This video is quite comical to me. I understand the fib retracements and extensions, however, you must realize in a choppy market this would pretty much go against you. In a trending market, I agree, this would definitely work. Let me know how you trade gbp/jpy now a days. I've been trading it everyday for past little while, and what you are talking about.... ain't gonna work man.
Not here to rain, just my 2 cents.
1yakko1 2 years ago
No, you're right... this is a trend-following pattern, so obviously works best in trends. For trading a range, you need a different strategy (we show some of them in free videos on our site). A successful trader adapts as market conditions change; that's why trading robots will always empty your account if you let them run long enough.
fxKnight 2 years ago
Informative video, there is so many different methods and ways to successfully trade.
JudiBeaver 2 years ago
Why? To get people to sign up for pro services which give a more in depth guide as to how to actually trade the system effectively. A ten minute video is cool, but you need more practice than three trades to get used to it.
There is little point in scamming people by teaching them how to use these systems, it takes ten minutes to open a demo account with any broker to test the theory out.
No doubt there are people who do this, but it's relatively simple to check whether they're bullshitting.
whiternoise2 2 years ago
naw i had to comment on passing...ya say "Only medium to long term trading makes money"....lol...i do 200+ a day...so i geuss 24 hour is long term...12 hour medium term!...thats' funny...gees i use a version of ABCDs to...lol...i drop the D.
valkireable 2 years ago
Charts always easy in hindsight.
Try doing it in real time...!!
nawandajagger 2 years ago
Each and every day, friend. One day, with practice, perhaps you can too.
fxKnight 2 years ago
Don`t need practice. Do FX since 2003 in more ways than you can imagine and I don`t need to make it publc!!
nawandajagger 2 years ago
So let me get this straight... you're frustrated with our own performance, and thus are upset because I try and help others. No one ever said YOU need to make it public, but I've had many requests from friends and traders to share my methods, so am doing so. Free speech, mate... and I intend to keep on helping.
fxKnight 2 years ago
Who said frustrated??? Amused is a more appropriate term. Like I said, charts are always easy in hindsight. But if it keeps you happy sure keep doing them why not!?
nawandajagger 2 years ago
Charts are in hindsight because they're on VIDEO. But I do plenty of trading each and every day, as I've said, in real-time - using the EXACT same methods I teach. If you're sceptical, look up our site on some popular review websites, see what our students are saying.
fxKnight 2 years ago
Look I`m not sceptical nor frustrated and right now I`m short eur/usd and looking for 1.3400 in coming weeks - Yes a medium term position as it is only medium to long term trades that make good money! GBP/USD now has a bearish outside day, i.e., higher high, lower low, and looking like a lower close which for me is another opportunity.
Now you could show your real time trades if you really wanted by showing the chart as it is when you enter and then how it is a few hours later!
nawandajagger 2 years ago
YouTube has a 10min limit on videos. I also trade mostly medium-long term, unless I'm stalking a news trade (as in THIS example). Right now, I'm not taking long-term trades, as everything is either at or near key Fibonacci levels (I find Fibs to be more precise than simple round numbers), and I'm waiting to see how the weekly candle closes. I *do* also post my long-term projections, which you can readily find on DailyFX, FXStreet, BabyPips, ForexPros, and the International Business Times.
fxKnight 2 years ago
Great video. Watching a practical trade was like reading 10 books in 10 min.
Do you have similar video for Uptrend please let me know. Do you use Ichimoku too? and is there any video on it as well. Thanks. Keep posting.
kangal1999 2 years ago
Lots of videos & webinars on our site (for free) - stop by sometime.
fxKnight 2 years ago
break outs etc.
this doesnt come because indicators moves up and down ... or while a A or B or C are printed into the chart window ..
TRADINGSUPPORT 2 years ago
technicals do not cause market movements - TRADERS do... but technicals can certainly help you interpret them. You find volume to be important?? Volume is the ONLY indicator which a) is not based on price and b) is not lagging. I find it to be critical in making trading decisions. The 21 and the 200 are by far the most important MAs, though I tend to look for clusters of multiple S/R levels more than anything else.
fxKnight 2 years ago
the volume (i think ...) doesn´t show anything .. 6 ore more moving averages ... here is the questions... on which should the trader be concentrate ..
RSi, Moving averages , volume ISNT needed for trading, who understand the important Trading basics of
MARKET TECHNICS
and the chart window is done like --- the chart could not fall under the window border on downsite ...
and - each trader has a 50% chance to be on the right side of life ...
there is no one comment, why you get movings, ..
TRADINGSUPPORT 2 years ago
on this chartfenster are more lines as quotes at Times & Sales at one Day ...
TRADINGSUPPORT 2 years ago
this is an awesome strategy especially if ur a new trader. pay attention folks its worth it!
flyingdutchmanhero 2 years ago
your chart is hard to see, too many indicators
dell1972 2 years ago
Please keep in mind this is ia full-screen charts compressed to a 320x240 YouTube video. Not ideal, though we'll see what we can do to improve it for future videos.
fxKnight 2 years ago
Hi BK, what is the basis/condition to spot pt 'A'? I did not see SMA 200 is used as part of ABCD strategy before you determine pt A? Please advise.
doreamoncute 2 years ago
"A" is where the move starts, "B" is where it comes to an end before the retracement. Start to finish, wick to wick, that's it.
fxKnight 2 years ago
What about move stop at 78.6% of BC and make a gartley pattern? Aiming 1.27/38/62 seems only a possibility, far from a expect thing. Would love your comment on it. Later
InvestirenBourse 2 years ago
clean up your chart
pleasurepete 2 years ago
down down down down, that's what i like to see!
funny. good video man.
matt6123466 2 years ago
Do you have current videos?
dell1972 2 years ago
Lots more, longer webinars as well (Youtube only allows 10min) - all for free - please visit our website.
fxKnight 2 years ago
I'm not clear as to what criteria you use to find point A and B ?
other than an arbitrary decision based on the chart??
as I m just now trying to learn how Fibonacci works maybe I'm missing something??
crgshell 2 years ago
Hi, you may want to check this site, there is a series of Andrei's webinars videos (the 3rd of which is coming out soon) but I believe you need to log in to attend the webinars, not so to watch the videos. Let me see if youtube allows the links. If so just remove the spaces. Finding the right points isn't very easy BTW but practice makes perfect! Good luck...
forexpros . com / live-events / transcripts/2
sparklysparks77 2 years ago
Great info here, this strategy seems effective.
wwwForexsigcom 2 years ago
Great videos? My question is, how do you determine when the overall day is going to be a down day without the benefit of any market moving news?
enohp660 2 years ago
There are indicators to show you the overall trend of the market on a daily basis. Also, Andrei is suggesting here to trade the European market. The American market is, IMHO, the most difficult to trade using smaller time frames because of the news. A very basic indicator is the 10 period simple moving average of the close to determine the daily trend, along with, say, 21 RSI. But there are many other more complex (and effective) ways to determine the trend. Hope that helped.
sparklysparks77 2 years ago
Comment removed
yasharthnathani 2 years ago
Thanks for Very nice video. Click on my account to see other free forex training courses!!!!!!!!
smartforextrader 3 years ago
dude your videos are amazing ,the best tutorial videos on youtube!
Keep making more!
atomi50 3 years ago
Where exactly do you enter the trade?
You only know point C after it has dropped, so do you enter after it dropped or wait for it come back up?
CheapNPoor 3 years ago
That's right - you see C best in hindsight, but usually there are still more than enough pips left on the way to D. it is nto about nailing exact tops and bottoms (a gabler's game) but rather about getting the safe 90% of the pips in-between. :)
fxKnight 3 years ago
Look at your momentum indicator at that point
miklamx 2 years ago
thanks for your great vids --so helpful
one thing im stuggling with is finding the point "a"s to start my trades from
have always traded indices till now but finding opening times of fx more suitable
great vids and thanks
nicnatnattle 3 years ago
We cover Fibs in more details each Friday at 15:00 GMT on FXStreet - free webinars
fxKnight 2 years ago
I hate to rain on the parade here..I like what you are trying to do..I just have 1 little problem. That wasn't live trading data, you can go into historical data and say "this would have worked here" and "It worked here too" but there will always be a roughly equal number of examples where it doesn't work. I will say though that since markets are fractal fibbo and Elliot waves do work, but they are no magic bullet. Chinkou span is a more reliable measure of S/R in my opinion.
Codex1 3 years ago
Is this a Fibonacci Expansion ?
This is Joe Dinapoli's idea.
Not yours.
aroon88 3 years ago
Actually, it was Leonardo de Pisa's - over 800 years ago. Joe's a wonderful guy (and a very good friend of mine), but he didn't invent Fibs. And I don't believe I ever claimed to have either.
fxKnight 3 years ago
Hi,
What are the parameters for your OsMA and EMA´s?
Rgds,
manolosal 3 years ago
OsMA (MACD can be used as an alternative) is standard settings - 12,26,9. EMA is 21 applied to the close. The others are simple MAs - 50 and 200.
fxKnight 3 years ago
Can this work on daily timeframes with indexes like qqqq?
optiontraderfan 3 years ago
You bet. Worked like a charm to find the recent bottoms in the Dow and the S&P.
fxKnight 3 years ago
Possible you can show an example video
using a daily timeframe on qqqq?
Or whichever index you choose?
Thanks
optiontraderfan 3 years ago
I doubt I'll be making any new videos before 2009, though will certainly keep it mind for future ones. I do a free Fib webinar on FXstreet every Friday - glad to look at charts in real-time with you. In the meantime, pull up a daily Dow chart and draw a Fib from 13131 to 10813 - you'll find that we've been ranging between the 161 and 200% extension levels for the past 3 weeks.
fxKnight 3 years ago
Very nice video. Click on my account to see many free forex trading courses.
smartforextrader 3 years ago
I've been experimenting with fibs in a similar way. I've been placing my fibs at the open, pulling them between s&r and trading accordingly after about the first hour. I will be watching more of your videos. Thanks for posting.
007380 3 years ago
hey look at my profile k
BrokenHeartedGirl182 3 years ago
Thanks, your video was incredibly informative! I do have a question. Will you ever use a 50% "C" Retracement level for your entry point, or will you disregard it, or wait for it to come up to 38.2?
lazerusmfh 3 years ago
50% is valid - statistically it typically goes to 161%.
fxKnight 3 years ago
naughty fun. visit my profile. Z
b9brap 3 years ago
No problem... it comes with practice. :) Charts on new videos will be cleaner, promise.
fxKnight 3 years ago
I have a collection of forex autopilot trading videos. Have used myself and found them very profitable. Just want to share with you. Click on my account to see the videos.
smartforextrader 3 years ago
Mark Douglas uses this pattern, doesn't he?
ZiggyHungga 3 years ago
Not sure... never traded or studied with him.
fxKnight 3 years ago
Can you tell me what indicators u use
I am currently testing out Fibonacci, and use stochs, RSI, I will try to add MACD histogram
bosoko 3 years ago
Stochs and RSI are from the same group (oscillators), so essentially tell yo the same thing. MACD is good, it is from the other (trend-following group). For more info, please see our website, and click on Trading Academy (free).
fxKnight 3 years ago
Oh... sorry. I forgot to comment about the system. very useful! it took me to a higher level. 5 stars! never mind the chart. :)
lexovirus 3 years ago