Fibonacci GONE WILD

Tick-tock and it don't stop.......

Hi Kenneith,
As I stated, the osc/indicator that you use really doesn't matter....it is how price reacts around the fibs....the osc/ind is more for confimation of direction.
I added 2 macd's...one is of shorter duration and the other is standard....now my trades entries are usually taken off a far smaller time frame....though I posted the 1hour to show a bigger picture. Stoch also works well. Also use a longer term MA for visual direction of current intraday trend, if that is the time frame you trade....kick it around, I always tweak a bit....I also have to change indicators from time to time as I get "stale"
Hope that helps
Fxj

BTW - Moved my TRAILING STOP to 2.0515 Locking +105 pips 1240am edt US

I stepped out for a quick minute and came back to see that price had made its way down to the lower pitchfork line and bounced. Should have placed a buy limit order. Arrggggghhhhh!!!!

BTW, the yellow line represents the 23% fib for the big move down from 251.06 to 219.31.

Is she ready for roasting to the downside or has an upside suprise awaiting?

Here is the setup for this pair which was originally posted as a 15min chart. I added the green pitchfork (missed out seeing the setup for it earlier). The charts also show the 261 extension which wasn't shown in the earlier charts.

(The 3rd point for the green pitchfork is drawn on the same point as the lower red pitchfork line. I noticed that it isn't clearly seen in the chart so I just wanted to mention it.)

Here is how things worked out with the 4hr chart.

(The red lines represent the fibs for the move down from from 251.06 to 219.31.)

Here is how things worked out with the USD/JPY.

This basic fib setup is useful as well. I didn't included it in the previous hourly chart because it was already too cluttered.

I added some new fib lines to the 4HR chart.

These sideways breakouts of the pitchforks are really proving to be signs of a moves to the upside.

The purple line on the 4hr chart is where the 0%/100% fibs intersect (2.0655) on the daily. Also, I've adjusted the pitchfork drawing on the daily.

Back & Forth

BUY THOSE DIPS!!

This is a chart to complement the Daily/4hr chart I've been posting. I have the area highlighted in the 4hr chart below.

That's one beautiful double bottom right there folks!!

Price couldn't stay above the traingle formation and has since broken it to the downside for the second time.

hey southernmind do you trade the fibs on the 15M chart?
BK

If I see a setup, of course!! Check out the posts I made at the beginning of this week for the GBP/JPY on the 10min chart.

There are potential setups all over the place. You just have to pick what you see to be a good entry and see what happens. The greater the range on which the fibs are drawn, the greater the chances are for price to react to the fib levels due to the larger separation between fib levels. The opposite is true when the range is lesser. If price momentum is fast, it can take out a small fib range (SNAP), just like that!!!

Here is a nice setup I noticed for this pair using lower chart price action.

DAAAAAAAAAA BULLS!!!!

Daaaaaaaaa Bulls Deux!!!