I been watching the GPB/USD. It seem that everytime the GPB/USD hits it low or test a big support, and fails to break it. It flies up about 30 to 40 PIPs. I am I just seeing thing or can anyone confirm what my eye tell me I see?
I am somewhat new at this and so I doubt alot of my observations.
Thanks
Fdisk
Fdisk
Please I just want a few pips.
Is that too much to ask?
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Commercial Member
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Joined Feb 2005
|2,875 Posts
Quoting fdisk
Disliked
I been watching the GPB/USD. It seem that everytime the GPB/USD hits it low or test a big support, and fails to break it. It flies up about 30 to 40 PIPs. I am I just seeing thing or can anyone confirm what my eye tell me I see?
I am somewhat new at this and so I doubt alot of my observations.
Thanks
Fdisk
Ignored
yep its been bouncing off of the 89 ema which price usually does in a good trend. theres a sneak preview for everyone. jim
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Commercial Member
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Joined Feb 2005
|2,875 Posts
Quoting fdisk
Disliked
Is the 89 EMA on the Daily,4H or 1H chart?
Ignored
any, it will of course do it more on a 30 and less on higher. i count three on the 30 then it tried to come back to the 365 which it will always try to do at some point. every single touch was at a fib also and when a fib is joined with another fib or a ma of importance what is it called?
any, it will of course do it more on a 30 and less on higher. i count three on the 30 then it tried to come back to the 365 which it will always try to do at some point. every single touch was at a fib also and when a fib is joined with another fib or a ma of importance what is it called?
The answer to your question about when two or more fibs, ma's, or trendline come together is called "confluence". Even this ole fat boy is learning from you Jim. Thanks! Now if I can just learn how to read charts and figure out price action. Can't wait to join the pf.
I've been finding Fibonacci a little difficult to follow, ie the when/where part .. do you know of any resources/books which is good to explain fibonacci?
Like where does one decide this is a retracement move of which other move which happened previously?
But I guess if all of this will be in the pf you're setting up, I'm more than willing to wait .....
Joined Mar 2004
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Status: Senior Member
|1,319 Posts
Try Fibonacci for the Active Trader by Hobbs. You should be able to determine an entry and an exit with a stoploss based on market action while you are reading the book.
