Fibonacci GONE WILD

When it comes to the fibs, it's no different than how you already use them. I just added more of them. Enter or exit a trade when price bounces off or has shown consistent support or resistance at one them. The pitchforks (trendlines) make trades that much better.

Here is an example. The fact that price did not remain inside of the pitchfork lines can be considered a bullish sign. Further confirmation was given when price refused to re-enter the pitchfork, candle closes above the fib line, and higher lows. Later, price started breaking through the wedge pattern with higher highs and lows. After fully breaking the wedge, price eventually broke through a fib line which served as resistance (you could have made some pips on the short side when price first arrived there). Price continued to push higher and made a top at the next fib line (where a short could have been taken).

So as you can see, there were many signs that pointed to price going higher. I hope this illustration was helpful.

Enjoy the ride!!

The hourly looks familiar.

Note: I have another daily chart for this pair where the fib lines are drawn slightly different. I decided to go with the one I posted but if the other one shows anything promising I'll post it.

CHECK THIS OUT!!

Price has to break a fib line and a pitchfork line to proceed. Price action here should provide very useful information.

Make that two fib lines.

If price overcomes these three barriers, more than likely it will reach the white 50% fib and then retrace. Whether it breaks all three or not, I believe that price will revisit the white 23% fib level. Although, I could be totally wrong.

CLOCKWORK BABY!!!

That Euro is kicking much arse!!

The daily is broken down to the a closeup on the 4hr in the second chart to provide clearer price action.

More bounce to the ounce!!!

Breakdown of the Daily to a closeup 4hr in the second chart.

Gotta love it!!

After a retracement from the 76% fib line, price pushed higher and broke through and hit the middle pitchfork line.

This is how the EUR/JPY pair unfolded.

Price topped out today at the intersection of the upper trendline and 138% fib.

The hourly chart I've been posting for this pair has served it's purpose and now it's time to move on to a different setup. I'm using the same fib lines but the pitchfork is drawn a little different.

Although price didn't quite make it to the 50% fib (almost though) on yesterday's candle, it did make its way back down to the 23% fib.

Daaaaaaaaaaaaa Bears!!!!

Daaaaaaaaaaa Bears Deux!!!

DAAAAAAAAAA BULLS!!!

Daaaaaaaaaaa Bulls Deux!!!