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Real Time Fibonacci Analysis

  • #61
  • Feb 21, 2008 12:32am Feb 21, 2008 12:32am
Hey, Steve, goo to see you made it aboard.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #62
  • Feb 21, 2008 12:35am Feb 21, 2008 12:35am
man you need to move. its 6.30 at night. just had my first beer. 7.30 in other parts of aust due to daylight savings
  • #63
  • Feb 21, 2008 12:36am Feb 21, 2008 12:36am
well hello there galaxy mum. glad to be here to
  • #64
  • Feb 21, 2008 12:36am Feb 21, 2008 12:36am
Jared, Thanks for the advise, I've traded live, but put things away for the Christmas/NewYears. When the 1st of the year began I was introduced to this, and I stopped trading at all until I learned this and could trade it with some confidence. I've been demoing for 3 weeks or so, so I'm ready for the micro lots, need to progress.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #65
  • Edited 12:39am Feb 21, 2008 12:37am | Edited 12:39am
Quoting Scotty B
Clean Clean Clean.... I apologize for not following bo's rules to the t, just wanted to offer my picture. I think cable is just about done completing her bear cycles. She could drop to 1.9306 to complete the weekly bear cycle.If she goes lowerthan1.9306 then the bear still rules. If things are a clean meet she'll head back north. Weekely big time target @212.33 for the upside. Just my view of things..We'll see!
I'm not sure I understand your charts or your analysis. Can you clarify please?

What I think is interesting to note is the choppyness we have had recently is happening right around the Up Trend Long fib on the weekly chart. It has been a strong support level so far.
Attached Image (click to enlarge)
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  • #66
  • Feb 21, 2008 12:59am Feb 21, 2008 12:59am
No momentum currently. Probably because retail sales data is due for release in 30 min. Good time tighten stops in my opinion.
  • #67
  • Feb 21, 2008 1:29am Feb 21, 2008 1:29am
Morning all,

Still out and watching. I wasn't convinced enough on the hrly break of yesterday's long fib to take it earlier. I want to see more definitive long trend action, HL/HH and a break for instance on that TF before gunning for the T1 (9555)....maybe the data in a few minutes will help swing it around a bit.

EDIT (data): ...LOL they liked that then!
  • #68
  • Feb 21, 2008 1:31am Feb 21, 2008 1:31am
Dang it. Stopped out by a spike only to see it head north.
  • #69
  • Feb 21, 2008 1:36am Feb 21, 2008 1:36am
If I had placed my stop 2 pips lower..............oh well. Still +20 on that one and back in the trade long, it still might continue a bit.
  • #70
  • Feb 21, 2008 1:40am Feb 21, 2008 1:40am
intraday T1 hit, may reverse due to profit taking
  • #71
  • Feb 21, 2008 1:45am Feb 21, 2008 1:45am
I'm out with +27. Not bad but dissapointing when there was +80 on the table.
  • #72
  • Feb 21, 2008 2:00am Feb 21, 2008 2:00am
Quoting Jared
I'm out with +27. Not bad but dissapointing when there was +80 on the table.
Your pip +ve, which is all that counts to my mind.

I'm conscious now after watching how cable seems to cycle to T1s that it may well take the rest of the day for price to 'reset' and provide a decent entry for the next T1....especially as an average daily range has already been printed.
  • #73
  • Feb 21, 2008 2:01am Feb 21, 2008 2:01am
Yeah, time for a break eh?
  • #74
  • Feb 21, 2008 2:05am Feb 21, 2008 2:05am
Hit intraday T1, as previously projected. Currently consolidating/retracing.
Attached Image (click to enlarge)
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  • #75
  • Edited 2:17am Feb 21, 2008 2:07am | Edited 2:17am
Well. thats mission accomplished then. rippa
:surprised

jared, can i ask what would be the normal scenario now. obviously it would be perfect if we were all still in or maybe had multiole lots to next t/p. If the price now retraces, will you reenter a simular trade as the one we just did using the 1.9500 as support. or even the initial price we got if it went back that far. Or would you draw fresh fibs now, using them as support or would you drink beer and say rippa, i won today. steve
  • #76
  • Feb 21, 2008 2:40am Feb 21, 2008 2:40am
Quoting brisvegus
Well. thats mission accomplished then. rippa
:surprised

jared, can i ask what would be the normal scenario now. obviously it would be perfect if we were all still in or maybe had multiole lots to next t/p. If the price now retraces, will you reenter a simular trade as the one we just did using the 1.9500 as support. or even the initial price we got if it went back that far. Or would you draw fresh fibs now, using them as support or would you drink beer and say rippa, i won today. steve
Personally I would do the latter, except I don't like beer. I am going to wait for the dust to settle a bit and then redraw fibs from this current move to see how strong it is. We are a bit choppy on the daily studies, likely due to hitting the uptrend long fib (I posted earlier on the weekly chart).

As of right now it is continuing up but it is too risky for my prefference. It has already moved 165 pips today. That is a lot for 1 day, I don't know how much more it can continue.
  • #77
  • Feb 21, 2008 2:43am Feb 21, 2008 2:43am
I think i drew them right but the g/j has also gone to 1st t/p and 2nd now as well. the 100 and 138 respectively. nice pips there

ps Ill have a rum and coke for you then.
  • #78
  • Feb 21, 2008 2:48am Feb 21, 2008 2:48am
Quoting brisvegus
obviously it would be perfect if we were all still in or maybe had multiole lots to next t/p.

If I was a little smarter that's what I would have done. Well actually, it has to do with my risk tolerance. I am gambling with small amounts so I don't have multiple lots on the trade to play with. 2 mini lots usually. It would be better to say use 10 lots and take half at the first point momentm stalls and set the rest to breakeven, then scale out the rest over time I think.
  • #79
  • Feb 21, 2008 4:04am Feb 21, 2008 4:04am
gu goes to 161.8 to the absolute pip and reverses. incredible then that heads down to 138 and stops also. spooky

hey joy where do you reside my friend
  • #80
  • Feb 21, 2008 4:31am Feb 21, 2008 4:31am
hi guys. just put a u/j buy on and went back and saw the super incredible resistance from previous days at the level im at so closed plus 1 pip.
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