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Announcements

This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.

 



I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program

 



Additionally, you can now get access to what I consider to be the best stock options daily trade alert service.

 



Of course, I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.

 



If you do want to follow along with what I am doing every day you can get access to my daily stock market report 

 

 

You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy



Until next time


happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

Fibs & their usage.........

Phil Newton's picture
folks have differing views on using Fibs......most analysts & technicians tend to refer to & observe only the big (monthly-weekly-daily) lines which affect major, long term swing & s&r zones. The big players don't generally trade intraday & use the short term swing moves for trade management, therefore they're not particularly interested in the shorter term price oscillations........ I can only comment on my personal instruction regards Fib lines, and over time I've adapted the use of these % moves to assist me in observing likely points of probable reaction & confluence........ we talk constantly on here about the importance of 'confluence' zones.....a Fib calculation is merely a mathematical % of a move between points A & B.......... therefore, I'm looking for where most of the near term action is presently being focused in relation to the major turning points farther out on the ladder.....each chart (& the relevant swings or major H/L clips) offers me an opportunity to guage whether a particular zone is hotting up or coming into focus....multi fib touches from various levels will ring alarm bells, and I'll then begin observing price for favorable patterns or signals. experience shows me that price consistantly bobs in % moves of between 30 & 60% between sharp intraday-intraweek runs......if it begins to stall & falter on or around a prev s&r barrier, which ties in with a Fibo line from a relevant H/L zone, then I'm gonna begin to look around for a price signal to offer me an entry (or partial exit if I'm already positioned)......... I don’t use them as ‘trading triggers’ neither am I naïve enough to expect them to work bang on the nail all of the time…..they’re simply a tool which I utilize to confirm area’s or zones of higher importance & probability………… they don't & won't appeal to everyone, some folks find them too ambiguous - which is fine...everyone has their own tastes & opinions etc....but they've served me well for long enough.....and traders far smarter & successful than me have used & continue to use them effectively in assisting their trading decisions........ as we constantly say on here "each to their own"............... updated weekly & printed out........ updated weekly & printed out.......... updated daily & printed out........ on screen permanently & updated as necessary.......... on screen permanently & updated as necessary..........