Thom I hope you like it. Looks like this one already worked. Back and up for long eh?
MD.
MD.
Keep smiling
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DislikedWeekly Fib 0 Line (White) and Daily Fib -38.2 (Yellow) cluster at 1.6240.
Chances are we retrace to this level for a double tap on weekly 0 line and then up we go to extensions.
Or we break out above the Daily 0 line and to the extensions.
Either way we are headed long just a matter of which point will trigger the entry.Ignored
DislikedThis is probably the kiss of death posting this trade but here goes. Target 0.9355. BarTstop, here's your chance to get your own back!
Attachment
MD.Ignored
DislikedCan you define what a break is since that is what we are suppose to trade instead of a peirce. Misterdaz told me that this red candle I have outlined is a peirce so I would not enter in on this candle right but instead I need to wait for a break right?Ignored
DislikedThanks for coming to my rescue. I think I get what you're saying, but...... If I draw a fib on an up candle, the...Ignored
DislikedHi Ed,
I don't like to see anyone really trying to understand this, struggle.
There seems to be a bit of confusion with entries.
Please re-read Post 5352 on Page 357 very carefully, it is extremely important for reading entries. It shows perfectly how price reacts at the line and what it is going to do next.
Candles will always tell you what price is intending to do before it actually finally does it. Concentrate on watching how each candle reacts at a trigger level like the...Ignored
DislikedOK, that makes sense and I'll study that in great detail. In the meantime, I'm looking at the GBPUSD. I'll try to post a chart, but I never did it before. My fib is on yesterday's candle. Price pierced the...Ignored
DislikedHi Checkz,
I view a break as the candle body closing through the line and a pierce as the wick only running through the line. As previously stated, the candle wick tends to represent volatility on the candle and not true price which is shown in the body.
I am always more interested in how the body reacts to the line than anything else. If it costs me a few pips to get in, I have more insurance to confirm that the move is for real when the body closes through the line.Ignored