Part 1 is available here: ruclips.net/video/0E3RYcciHPQ/видео.html 🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining 🔹 Add us on Instagram: instagram.com/duomoinitiative/ 🔹 Our second channel for financial news and analysis: ruclips.net/user/MarketMoversFinancialNewsandAnalysis
I am loving your logic and practicality in using fib levels! Please keep posting videos like these! Maybe a live trading video that shows how you would incorporate the fibonacci levels as well as relative volume 🙏💰🙏
Thanks Elijah. We do a Facebook Live every Tuesday going through real trades using our method. You can check that out to see how to apply it in the markets.
After learning the concepts of Fibonacci retracements, this use of it just seemed logical and intuitive to me. When you draw your range it's often apparent that there is a clear correlation with the chart and the retracement levels even though they might not be aligned. It then just seemed intuitive to me to adjust the range to match, but maybe it's not so intuitive after all
Oh, and should there be a Type 1 or Type 2 close on the A and B points too for them to be valid? Thanks so much! Learning so much from your videos and mini course.
Hey Nicholas, I am trading the crypto markets and what I noticed is that mostly everyone there is like "we just eyeball it", while forex traders are super precise, do you think the forex stuff that you teach can be applied to those markets, my main issue is since the liquidity is that much lower in those markets stuff won't be that precise.
This is a really great question. I think the method will work eventually in the future on crypto markets but for now I don't think it would work consistently. There will be times it works, but I wouldn't rely on it. This is for 2 reasons, firstly we rely on liquidity to get the structure in the market we rely on. Secondly, we can only predict 'steady state' markets with a high level of accuracy. Crypto currencies usually have their biggest movements in more of a 'herd activity' state (I explain in the free mini-series if you have seen that?). I still don't believe it's a good approach to just 'eyeball' it, because it's in our human nature to automatically try to find patterns in anything we see, so I think people will mislead themselves by taking that approach.
The Duomo Initiative - Learn to Trade does your course exclusively cover Forex only? Just curious to know.. also if I do your course, do you suggest computer setups and metadata 5 as tools to use?
The focus is on forex, as it's easier to learn with a market that has no directional bias and is open around the clock. However, the method can be applied to any assets. If the asset has a directional bias (such as stocks), you just need to take that into account with your expected time horizon of the trade and your position size. We recommend a computer setup and MT4/5 (since it's free and has all the tools you need), but some of our members use other software too like Tradestation, which also has the tools you would need.
The Duomo Initiative - Financial Education thanks for letting me know. Do you guys trade exclusively on PC computers? I'm a mac user and am finding it difficult to find a stable trading environment. If it's too difficult to trade on mac, I'll buy a PC (but the designer in me doesn't want to do that) LOL
Hello, I have full respect for your knowledge that greatly surpasses my experience in the market. That beeing said, in this specific video it looks like you could benefit even more from some of MTi's take on fibbonacci. They are sort of money hungry company built around their aggressive sales tactics, but one can't doubt their results in the market, in the same way one cant doubt your results. RUclips-search "So you want to be a forex trader" and look up Joshua Martinez take on fibonacci. The 88% level that wasn't marked out in this video gave a perfect touch and d-extension at the 1.18 on 21th october 2016. 88% goes to 1.18, 78,6% goes to 1.27, {68% 50% 38%} goes to 1.618. But you really opened my mind to make sure the levels are significant! At the same time as they seem to have some good revelation on fibonacci, I think maybe the way MTI present it in their sales videos can lead to over use. And that they would benefit from your revelation on significance.
Part 1 is available here: ruclips.net/video/0E3RYcciHPQ/видео.html
🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining
🔹 Add us on Instagram: instagram.com/duomoinitiative/
🔹 Our second channel for financial news and analysis: ruclips.net/user/MarketMoversFinancialNewsandAnalysis
so how does all this help you to decided an entry point ?
I am loving your logic and practicality in using fib levels! Please keep posting videos like these! Maybe a live trading video that shows how you would incorporate the fibonacci levels as well as relative volume 🙏💰🙏
Thanks Elijah. We do a Facebook Live every Tuesday going through real trades using our method. You can check that out to see how to apply it in the markets.
The C is looking for the D !
Hello. Can you use the Zigzag indicator to show key levels of where to start the A and B range of the fibonacci
no
After learning the concepts of Fibonacci retracements, this use of it just seemed logical and intuitive to me. When you draw your range it's often apparent that there is a clear correlation with the chart and the retracement levels even though they might not be aligned. It then just seemed intuitive to me to adjust the range to match, but maybe it's not so intuitive after all
On which levels are we looking for the C to confirm? For example, it could be at the 50%, 61.8% or the 38.2%? Any others? Thanks!
This way of using fibos would work with H4 and H1 right, depending on the significance of the levels and the closes ?
Oh, and should there be a Type 1 or Type 2 close on the A and B points too for them to be valid? Thanks so much! Learning so much from your videos and mini course.
It can give us more certainty if that’s the case, but it’s not necessary as long as we have the C point confirmed
Looks to me point C of fibonacci retracement is curve fitting exercise.
In my opinion the most valuable tool for technical analysis
Hey Nicholas, I am trading the crypto markets and what I noticed is that mostly everyone there is like "we just eyeball it", while forex traders are super precise, do you think the forex stuff that you teach can be applied to those markets, my main issue is since the liquidity is that much lower in those markets stuff won't be that precise.
This is a really great question. I think the method will work eventually in the future on crypto markets but for now I don't think it would work consistently. There will be times it works, but I wouldn't rely on it. This is for 2 reasons, firstly we rely on liquidity to get the structure in the market we rely on. Secondly, we can only predict 'steady state' markets with a high level of accuracy. Crypto currencies usually have their biggest movements in more of a 'herd activity' state (I explain in the free mini-series if you have seen that?). I still don't believe it's a good approach to just 'eyeball' it, because it's in our human nature to automatically try to find patterns in anything we see, so I think people will mislead themselves by taking that approach.
Thanks for your feedback, I didn't watch the mini series yet but I get what you mean with the "herd activity", also love your videos, so keep it up.
I knew something secret and new..thank you very very much
Hey Nicholas, what charting software are you using for this video?
Metatrader 5
The Duomo Initiative - Learn to Trade does your course exclusively cover Forex only? Just curious to know.. also if I do your course, do you suggest computer setups and metadata 5 as tools to use?
The focus is on forex, as it's easier to learn with a market that has no directional bias and is open around the clock. However, the method can be applied to any assets. If the asset has a directional bias (such as stocks), you just need to take that into account with your expected time horizon of the trade and your position size.
We recommend a computer setup and MT4/5 (since it's free and has all the tools you need), but some of our members use other software too like Tradestation, which also has the tools you would need.
The Duomo Initiative - Financial Education thanks for letting me know. Do you guys trade exclusively on PC computers? I'm a mac user and am finding it difficult to find a stable trading environment. If it's too difficult to trade on mac, I'll buy a PC (but the designer in me doesn't want to do that) LOL
why 27.2 from where do you get that nummber?
127.2 is the square root of 161.8
thanks Nic for this
Nicholas, this link doesn't load properly anymore Iv tried about 20 times and it keeps getting stuck.
me too, i dont understand not clear at all
Hello, I have full respect for your knowledge that greatly surpasses my experience in the market. That beeing said, in this specific video it looks like you could benefit even more from some of MTi's take on fibbonacci. They are sort of money hungry company built around their aggressive sales tactics, but one can't doubt their results in the market, in the same way one cant doubt your results. RUclips-search "So you want to be a forex trader" and look up Joshua Martinez take on fibonacci. The 88% level that wasn't marked out in this video gave a perfect touch and d-extension at the 1.18 on 21th october 2016. 88% goes to 1.18, 78,6% goes to 1.27, {68% 50% 38%} goes to 1.618. But you really opened my mind to make sure the levels are significant! At the same time as they seem to have some good revelation on fibonacci, I think maybe the way MTI present it in their sales videos can lead to over use. And that they would benefit from your revelation on significance.
AWSOM