DislikedHello everybody
I'm just posting a chart to show the power and accuracy of Fibonacci extension. After some powerful bounces off 146.40 (yellow line) as support, market breaches this level decisively and hits %138.2 fib ext first. %138.2 (144.90) shows some support but when it breaks %161.8 fib extension gets hit right to the pip and market stops there again.
Now I'm looking for further downside coz weekly stoch has just started to come out of OB state and also that bearish engulfing candlestick pattern shows huge seller's pressure to drive...Ignored
I just realise this when I monitor closely how Piter system of step by step profit taking then lately I found how superb his method as long as no manipulation in the market..but we still can smell it from the retracement itself...be honest I start to appreciate this fib in Mar 09 and I broke my trading record for 55,784pips from Apr 14-Apr 24 last month....after my post in this week end seems all my 148.50/145.50 already reach and waiting for second last of 143.50 and 141.80 accordingly...
http://www.forexfactory.com/showpost...stcount=175858
I always check this with Q & rgiit how it is..if am same page with them..then I stick on it..other wise I need to look some opinion from Mal/Piter...