Fibonacci GONE WILD

Well, price made it to a low of 157.95 which was within the range I mentioned. I've added two trendlines to the chart for better analysis. It appears price might be in for a sqeeze effect if it doesn't make a significant break outside either of the trendlines in the short term. If this occurs, then whichever direction price takes on a breakout is the trade to take, unless something freaky happens to mess things up.

y not use a shi channel instead of pf...much easier

Can you post an example of what you are talking about because I can't open the files.

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that is mt4 so u should be able to putt in indicator list anyway here is example

Anywhere in the highlighted area would make a good sell zone to trigger the final phase for the completion of a head and shoulders formation.

If this pair happens to fall hard, and the the dollar remains weak, expect GBP/USD to outperform. If this pair decides to go back up while the dollar remains weak, expect the EUR/USD to outperform. If the dollar happens to gain strength while this pair goes down, expect the EUR/USD to fall at a faster rate than GBP/USD. If the dollar gains strength while this pair goes up, expect GBP/USD to fall at a faster rate than EUR/USD.

With the previous chart (EUR/GBP) in mind, the EUR/USD is also in the final stages of completing an inverse head and shoulders pattern. The highlighted area on the right in the 4HR chart is where I expect price to reach, at a minimum, if it takes a dive.

The 50% fib is is at 1.5950.

I'm discontinuing the use of the 4HR EUR/USD as presently drawn because I feel it has served its purpose. I'm posting it now to compare it with how it looked in a previous post.

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Nice pictures,

but what does it show you? Do you trade at all the lines or pick and choose on the toss of a coin? Fibs are powerful, but not used in this way. This is just playing around, the market can play a lot harder than you can so lets develop fibs and become constructive, to try and isolate the points where the market will turn.

Example Bring up an daily chart and fib the last high to low, now go into the 15min chart and watch the price as it approaches the fib lines, they act like magnets, price will jump from one to the other.

Now imagine you are looking at a market for a reaction level, pull right out to the weekly and fib your way in using the last swings, get down to the 15min and you will have a series of points where the lines converge, lo and behold strong reaction points. Now watch the price action to these lines. do that for a week and you will understand what makes these markets move.

Smalldog2

For the most part smalldog, I'm just sharing with others some of what I see. If anyone chooses to trade off the charts, so be it. If not, so be it. I've made a few calls here and there, but that's really not my thing. I just present setups that might have potential. A trader can draw the same setups on their charts and take it from there and make their own decision of what to do.

Nikkei 225 Closed Down -752.89 Points!!! Yikes!!

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A fall, or upward continuation? You make the call.

The power that lies in trading the 5.....