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  • #1,205,821
  • Dec 7, 2021 6:54am Dec 7, 2021 6:54am
Quoting Js3mwtRc
{quote} EU has the tendency to fake fibo levels - close above/below and reverse that is why patience is required. Just experiment with different periods and you will get it.
thanks but not interested in fibo.
in any field.
  • #1,205,822
  • Dec 7, 2021 7:09am Dec 7, 2021 7:09am
Quoting tiborf71
{quote} thanks but not interested in fibo. in any field.
Have you tried them before and failed, why, I don't try to convince you sorry if, I did.
Looking for profitable short term trades ...|
  • #1,205,823
  • Dec 7, 2021 7:52am Dec 7, 2021 7:52am
Quoting Js3mwtRc
{quote} Have you tried them before and failed, why, I don't try to convince you sorry if, I did.
of course I tried, I tested.
it did not meet my expectations.
  • #1,205,824
  • Dec 7, 2021 7:52am Dec 7, 2021 7:52am
Abusive people should be ignored. Don't fuel their hate.
Learn from your mistakes and march on.
  • #1,205,825
  • Dec 7, 2021 7:53am Dec 7, 2021 7:53am
Quoting JauntyLoon
{quote}
You are going to be wrong Juan. I hope you come out when time comes just as now. No hidding ok. Fair play
POSTMASTER
  • #1,205,826
  • Dec 7, 2021 7:54am Dec 7, 2021 7:54am
Quoting pipibrasci
EXY stalling on DXY to complete its "W" pattern before swinging into action. EXY 2Bar Reversal candle at confluence zone (1.618 FIB EXT level., horizontal and trendline support) very strong leading to a second bullish candle to close above the mid trendline, Fib. Ret. 0.382 level & resistance level turned support. DXY yet to complete/reach its "W" pattern target. EURUSD Doji candles indicating exhaustion of downtrend. Likely to see it reach the Fib ret. 0.11 level (1.1238) before a bounce to the upside or back to its previous...
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #1,205,827
  • Dec 7, 2021 8:29am Dec 7, 2021 8:29am
Could we see 1.12 today? Sure looks like it
  • #1,205,828
  • Dec 7, 2021 8:39am Dec 7, 2021 8:39am
Could do though I hope we don't
  • #1,205,829
  • Dec 7, 2021 8:43am Dec 7, 2021 8:43am
Attached Image (click to enlarge)
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One more stab is perhaps possible ...but I started longing here

  • #1,205,830
  • Dec 7, 2021 8:49am Dec 7, 2021 8:49am
Quoting tiborf71
{quote} of course I tried, I tested. it did not meet my expectations.
fibo used on prices creates rigid parameters for people to buy/sell. IMO its not what these levels are that matters, it's what price does once it gets there. If you need to watch how price reacts then why have them on your screen cluttering up the price action? It just creates the sense of security that the left side of the chart will predict what the right side will do. Someone once told me... "Support bids exist on the right side of the chart, to the left is where they'll set traps for you".

thus---->

Js3mwtRc 's post
Quote
EU has the tendency to fake fibo levels - close above/below and reverse that is why patience is required.

also, lets not throw the baby out with the bathwater...fibo used in reguards to position scaling may have some value.

just my 2 cents tho. Happy trading everyone!
  • #1,205,831
  • Dec 7, 2021 8:54am Dec 7, 2021 8:54am
Closed out my short, it does indeed look like it's in for a bounce higher.
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  • #1,205,832
  • Dec 7, 2021 9:01am Dec 7, 2021 9:01am
Quoting dbrown101
fibo used on prices creates rigid parameters for people to buy/sell. IMO its not what these levels are that matters, it's what price does once it gets there....
Yes!

Quoting dbrown101
If you need to watch how price reacts then why have them on your screen cluttering up the price action? It just creates the sense of security that the left side of the chart will predict what the right side will do.
I agree.
Learn from your mistakes and march on.
  • #1,205,833
  • Dec 7, 2021 9:04am Dec 7, 2021 9:04am
Aren't Fib levels best used in the context of Elliot Waves? I see people using Fibs without Elliot Waves, in which case it is just a substitute for using pivots or manual support/resistance.
  • #1,205,834
  • Dec 7, 2021 9:12am Dec 7, 2021 9:12am
Quoting JauntyLoon
Aren't Fib levels best used in the context of Elliot Waves? I see people using Fibs without Elliot Waves, in which case it is just a substitute for using pivots or manual support/resistance.
Elliot Waves always look good in hindsight.
Learn from your mistakes and march on.
  • #1,205,835
  • Dec 7, 2021 9:40am Dec 7, 2021 9:40am
i'd be a seller @ 1266 ish.
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In tea leaves we trust!
  • #1,205,836
  • Dec 7, 2021 9:53am Dec 7, 2021 9:53am
Quoting JauntyLoon
Closed out my short, it does indeed look like it's in for a bounce higher. {image}
POSTMASTER
  • #1,205,837
  • Dec 7, 2021 9:58am Dec 7, 2021 9:58am
Quoting Robinhood1
{quote}

I'm having better luck trading the indices lol - DJI, DAX and Nasdaq are all strongly up.

FX? I dunno. Slim pickings.

Anyway I didn't say I was long EUR/USD, I think it will drop shortly after this bounce
  • #1,205,838
  • Dec 7, 2021 10:06am Dec 7, 2021 10:06am
DAX 40!
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  • #1,205,839
  • Dec 7, 2021 10:07am Dec 7, 2021 10:07am
Quoting pipibrasci
{quote} Maybe a strong bullish bar with a wick the size of the first pin bar! It cant just go north without clearing all the SL beneath it. But 2 doji is enough to send it north.. maybe. i see some cases where you have upto 4 dojis before making that bullish move. lol. im waiting for its next move. Week just started.!
It's still bearish, unfortunately. I was, perhaps, a little hasty in opening a new long.
  • #1,205,840
  • Dec 7, 2021 10:24am Dec 7, 2021 10:24am
Quoting JauntyLoon
{quote} I'm having better luck trading the indices lol - DJI, DAX and Nasdaq are all strongly up. FX? I dunno. Slim pickings. Anyway I didn't say I was long EUR/USD, I think it will drop shortly after this bounce
ok, fair enough
POSTMASTER
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