tag:blogger.com,1999:blog-5673441815180854503.post2782032468619268302..comments2023-09-10T09:54:59.309+01:00Comments on Screwtape Files: Fun with FibsLouis Cypherhttp://www.blogger.com/profile/07670126160101669248noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5673441815180854503.post-1349257398372954912012-09-21T23:39:29.271+01:002012-09-21T23:39:29.271+01:00Credit where credit is due, good call.Credit where credit is due, good call.S Rochehttps://www.blogger.com/profile/18070519576321568415noreply@blogger.comtag:blogger.com,1999:blog-5673441815180854503.post-4831063155540153862012-09-20T04:15:46.826+01:002012-09-20T04:15:46.826+01:00Thanks JdA.
Maybe it's just me, but anyone w...Thanks JdA. <br /><br />Maybe it's just me, but anyone with half a trading sense knew and will always know the the PM's don't "NEED" this QE nonsense. Time and time again, those that *think* and try to come up with a story get broke or miss out while those that *accept* what the tape gives them and trade accordingly bank coin. <br /><br />While everyone in the BRAG-o-sphere was saying "silver $21" and "$1440 gold, watch out?" I encouraged them to get super short so I could sit with my popcorn and all watch them try to run to the exit doors as fast as possible as they got massively squeezed. But "technical analysis doesn't work in a rigged market!" Yeah, ok...cool story, bro. <br /><br /> Which makes me wonder why you would even talk about "things that could spoil the party" when it should be zero of a concern from a technical side. In fact, you could be sitting on some great profits by trading those charts alone not knowing if they were silver, gold, blow up sex doll futures. Fundamentals also irrelevant. <br /><br />Also, was it your intent just from a KISS perspective to use only one Fib set of data on the daily to describe the landscape? I'd think by adding some some extensions, confluence areas, multiple time frames in to one trading soup might provide more clarity? <br /><br />Oh, and silver to $4700 by QE100! :winky:Funky Tapehttps://www.blogger.com/profile/09271221564702147756noreply@blogger.comtag:blogger.com,1999:blog-5673441815180854503.post-35145409467398942052012-09-16T11:30:49.276+01:002012-09-16T11:30:49.276+01:00Thank you JdA for a very informative post. This wa...Thank you JdA for a very informative post. This was a clear and concise intro to the topic, with immediate practical benefits.<br /><br />Regardless the scientific merits or not of Fibs, if this is what the larger trading entities are working to, then it would be foolish for us minnows to ignore them.<br /><br />On your RSI article, I referred to $40 silver and $1800 gold as points just before which, I would ramp up my selling / profit taking, and you suggested that this might be on the optimistic side. Essentially, the Fib analysis that you provide, shows these as being the highest Fib lines, and you would simply adhere to the lower ones in the short term. The levels I am adopting were earlier also suggested by Dan Norcini as the higher resistance levels, and I went for those without necessarily knowing how they were set, but now it is clearer.<br /><br />Anyway, looks like good TA karma to me; there is the world of difference being bullish until $39.50, than to $41.50, no?<br /><br />Looking good for the HUI too, if it can clear the 38% FIb.<br /><br />Thanks again :-) <br />Byzantiumhttps://www.blogger.com/profile/03988230488277382551noreply@blogger.com