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Live Trading analysis

  • #21
  • Mar 19, 2008 11:57pm Mar 19, 2008 11:57pm
by the way as you can see thats why price is in some sort of range.(blue fibb 61.8 major support) ..and if you guys see the envelope(62) i use it as sentiment in the market...above =bullist...below = bearish...i also see them as strong support or resistance depending on the location of price....

any questions let me know..
  • #22
  • Mar 20, 2008 12:04am Mar 20, 2008 12:04am
I will extend this to more then 3 graphs so that i can explain each fibb one by one so i dont loose anyone ....

second graph...

Attached Image (click to enlarge)
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  • #23
  • Mar 20, 2008 12:12am Mar 20, 2008 12:12am
Quoting jets211990
I will extend this to more then 3 graphs so that i can explain each fibb one by one so i dont loose anyone ....

second graph...

Attachment

now the reason for this fibb.....is that it show me the last whing price is in ....and in what direction price my be wanting to seek...

The lower fibb...purple one would be the first extension if you came in price at that moment...but myself as a trader i know that its probable that on the way to the first limit you will find mor sub swings..and thats the location that iam going to true my other fibbs in order to catch those waves and attempt to make more pips on the way there..what that means is that each fibb has a story to tell...you just have to know how to read it...as we can see price bounced of a 61.8 and its looking for an extension...

i will now good ahead and post my next chart....
  • #24
  • Mar 20, 2008 12:19am Mar 20, 2008 12:19am
Decent thread mate, thanks for sharing.
  • #25
  • Mar 20, 2008 12:20am Mar 20, 2008 12:20am
Chart 3

IN this chart i will explain how i place the data of the first 3 fibbs...and how i read the charts...rememeber we still need more fibbs since we whant to catch the smaller waves...

Attached Image (click to enlarge)
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  • #26
  • Mar 20, 2008 12:22am Mar 20, 2008 12:22am
Quoting forexmoments
Decent thread mate, thanks for sharing.


Np...i am here so that everyone can get better and so can i....Thanks again...
  • #27
  • Mar 20, 2008 12:31am Mar 20, 2008 12:31am
Quoting jets211990
Chart 3

IN this chart i will explain how i place the data of the first 3 fibbs...and how i read the charts...rememeber we still need more fibbs since we whant to catch the smaller waves...

Attachment
so what do you get out of all this fibb????
What i get is the fallowing...

Price started to make a retracement from the bigger swing...RED fibb
As price started to go up price met a major resistance at 61.8 fibb from the major fib...when price came back down it meet support at the counter trend fibb...(once i show the inner fibb you could have enter that trade since you had the support of envelope/river and you saw price bounce...then when price reach the 61.8 price came back down...now that price has cross the envolope south ...price is looking bearish...in other words i start placing my odds together....
  • #28
  • Mar 20, 2008 12:36am Mar 20, 2008 12:36am
Quoting jets211990
so what do you get out of all this fibb????
What i get is the fallowing...

Price started to make a retracement from the bigger swing...RED fibb
As price started to go up price met a major resistance at 61.8 fibb from the major fib...when price came back down it meet support at the counter trend fibb...(once i show the inner fibb you could have enter that trade since you had the support of envelope/river and you saw price bounce...then when price reach the 61.8 price came back down...now that price has cross the envolope south ...price is looking bearish...in other words i start placing my odds together....

By saying placing my ods together what i mean is the fallowing...

Price has rallied and founs a major RESISTANCE at a huge fibb...and came down...what that means is
BEARS have 1 point....BULLS 0

Then to top it off price cross the rives going south...what does that mean to me...BEARISH SENTIMENT...

BEARS have 2 points...BULLS 0

now priec is consolidating...at a bullish fib 61.8

BEARS have 2 points 1/2 BECAUSE the tred is your freind

so just of this fibbs my set of mind is BEARISH...

Let me know if iam explaining detail enought before i continue to a more advance part...
  • #29
  • Mar 20, 2008 12:50am Mar 20, 2008 12:50am
Going to go away from computer....i will continue teaching later on...tomorrow i will go over another currency by request...my goal is to go deeply in detail everyday on at least one currency so post the currency you you guys whant for tomorrow and will finish this one of and do another one later on...
  • #30
  • Mar 20, 2008 9:58am Mar 20, 2008 9:58am
Well guys any demand for any currencies will be looked at upod request....so let thepost begin
  • #31
  • Mar 20, 2008 12:08pm Mar 20, 2008 12:08pm
Alright guys iam ready to begin analyzing...iam going to wait for a couple members to come in to start...
  • #32
  • Mar 20, 2008 12:09pm Mar 20, 2008 12:09pm
If you guys have any request of a currency let me know...
  • #33
  • Mar 20, 2008 12:26pm Mar 20, 2008 12:26pm
I will begin now....I will begin with GBP/USD
  • #34
  • Mar 20, 2008 12:30pm Mar 20, 2008 12:30pm
First chart....what do i see from the fist fibb..


Attached Image (click to enlarge)
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  • #35
  • Mar 20, 2008 12:34pm Mar 20, 2008 12:34pm
Whats i see is thea the bears are scroring points since we are below the envelpe and just of that the market sentiment is bearish...secaond of all we are near the low of a major = strong support...so if you are to enter short or are in a short position the could be a good place to close some of your postions....since price can start to go into consolidation because of the time 3.31 eastern time...so you dont whant to hold a position when you already have profits and are about to go into possibell range...


Chart 2 will be posted next...
  • #36
  • Mar 20, 2008 12:38pm Mar 20, 2008 12:38pm
Second Chart....


Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 30 KB


I will be explaining on fallowing post.
  • #37
  • Mar 20, 2008 12:40pm Mar 20, 2008 12:40pm
Everytime i set a chart up...i have to edit my next post so that i can see that chart at the same time....thats why you will see post with anything on it...then i edit it....


OK....whats this counter fibb shows us is that price has reached an extension....keep in mind this is a preety big swing...ussually big swing make a a bigger retracement.... thats whay i obtain from this two fibbs....

any questions let me know...

I will now post chart 3 with more fibbs...
  • #38
  • Mar 20, 2008 12:52pm Mar 20, 2008 12:52pm
Attached Image (click to enlarge)
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On the next post i will explain what i see...
  • #39
  • Mar 20, 2008 12:54pm Mar 20, 2008 12:54pm
A closer image....it willbe easier to understand it ...



Attached Image (click to enlarge)
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  • #40
  • Mar 20, 2008 12:57pm Mar 20, 2008 12:57pm
The green fibbs are areas that the market may go up and meet with and then make a turn and head backdown...that would be my intraday fib since it is the last swing....second the red fib is are very strong resistance points...as you can see 61.8 green fibb matches up with 38.2 red fib= stron resistance.....and lastly of this the river represents very stron resistance...this can be a very stong area where the sellers come in...


Let me know if iam going to fast or anything...
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