Real Time Fibonacci Analysis

Just after I said I was done for the day and close my computer the market came to live, been waiting all week for some good moves and it came after I was done for the week, well theres always next week.

Fxchi I have looked at your chart and my fibs are not set as yours, dont know if yours were right and mine was Fibbed wrong super styley....... okay I will walk you through my charts after cable move south and was rejected at Intra day low on the 14th 9.00hrs candle, I moved my Intraday fib to the high of that day which was .9472, then took the break of that high and had to sweat that trade out for 24hrs till my T1 was hit in the early hours of today, left my fibs on and moved my swing fibs to the next S/R i could find on my chart and wanted to take the break of that high but since the market was choppy and I had pips in the bank I decided to close my computer and trading for the week.

If I had stayed on I would have made some serious pips cos all my targets was blown through as if they were not even there, now I will wait till sunday evening before trading starts and draw my Fibs again.

Im putting my analysis out there and will welcome comments from everybody positive or negative.......Im sure I will learn more from all your comments.....

Thanks and have a lovely weekend

If you look closesly price reacted to the major support levels when they got tested ...since this got tested price reacted very bullish....and stalled oncve the target got meet...



Now that those got hit I pull up the major support levels all the way to current price since that got meet....and you fallow price with your intraday levels.....what you see in my 1 hour chart is that if price breaks the intraday levels of support you have to be aware of the major support levels...

this is how my maim tear of resitance is now...light blue fibb...pay attention to this....if intraday level fail then you know price is responding to this levels...and you take it short but you have to be awarte of the supports below...

GBPUSD is short in over-rall trend on a longterm. am sorry, am yet to understand how to effectively use the bo's language on resistance and support fib yet but i will make my point very clear. Am happy coz the chart is talking to me in a clearer term and its giving me strong confidence about FX. thanks to Bo, shemenator and Olorunloniem. Let's look at GU from different time frame, starting from the large time frame and zoom down to smaller time frame.



WEEKLY hi-lo -----> 2.1157 to 1.9331 We see a pin bar that signal short, perfect entry base on price action and got a confirmation as the next candle opened below the close of the pin bar(though defective), price bounced from the week low, which is a strong support, and retraces to the upper bound of decision zone which is 61.8, and this further strengthen the short in play(resistance) Pulling a resistance fibo from 2.0396 and 1.9363, the low of the fib also acting as a support as price has tested the support again, Interestingly, we saw another bullish reversal candle, and we can be sure that price will retrace to decision zone(1,9758-2.000) For those who prefers to strenthen their candle formation with confirmation from indicators: Stoc(8,3,3):stoch is heavily oversold. ema(200):its within the decision zone which, signal long in place and tells ahead that price needs to break the resistance ema(60): it is within target 1 and 2 of weekly resistance fib: this says that price might finally plunge to that zone



DAILY: The daily is playing along the weekly resistance fib of the hi and lo, with support holding. already hammer had formed and we have seen long playing already. Stoc(8,3,3): has crossed up from over sold zone ema60 and ema200 are both in the daily decizion zone which signifies that price might likely move up to that zone as ema200 is alwayz attracted to price



Confluence seen here, weekly and daily might likely retrace to same price range.


4HR price has moving in a downward channel since 21st of April, tried to break the upper trendline but was bounced, fibbing the hi to lo on 4hr, we might likely see a retracement to 4hr pivot, as a trendline might serve as a support, holding to the fact that a bearish reversal line was spotted on 4hr.



1HR Price is already retracing and if support holds at the trendline around 1.9500 on 4hrs, we might see price retraced to 1.9500 atm, which is the intra-day short on 1hr, before long will be taken.



Conclusion: here is wot the chart is telling me, price might retrace to 1.9500, remember, 1.9500 is a psychological number, might be difficult to break down before taking shape for long. In the Long run , we might see price get to 1.9474-2.000 level.


Hope i haven't guffed! getting ready for action packed trading sessions ahead

Just gone through ur analysises and would say good and thorough insight to what your charts are telling you but it will help if you could posts ur charts, like they say a picture is worth more than a thousand/millions words......you know what Im talking about.

If you have any problem posting charts then kindly ask shermenator, he is the chart posting expert on this thread and Bo's.

Looking forward to your charts and likewise getting ready for the new week ahead.

Here's my simple view of what's going on. I only have 1 chart posted (daily) with only one fib which tells me a story (please excuse MA's, but I think you all have this fib swing anyways).

We have our downtrend swing and notice at the low of our swing we have a Morning Star which tells us buying interest to most likely go back to fib levels. If this was a one hour chart I would've played the break of the high of pinbar back to the fib levels. Since this is a scalp trade adjust MM accordingly.

Same approach will be used this week. I'll be looking for support to hold on lower tf's such as 1 hr or 4 hr playing back to 1.9756.

Also I'm looking for price to retrace back to 1.9480 before considering going long. Just my own personal preference because overall trend is down, so I want a good price to trade countertrend.

My daily chart..

The way i have this i with more fibbs...the blue fibb is the overall move in the market.....Bullish uptrend...then we had the retracement to it and price is coming down based on that...everything besides this 2 major moves are tear fibbs intending to take price to either one of those major targets...

Here i have all my fibbs in it...

Step 1) Got my retrace.
Step 2 ) Now I'm looking for support to hold and switch to lower tf's looking for buy signals.
Step 3) I'm waiting for London session before entering. Need to make sure we have proper signals.
Step 4) Figure out stops, how much to risk on trade, execute trade. Targets will probably only be 80 pips or so. I've been getting hit trying to catch longer trends. Afterall this trade is in fact countertrend.
Step 5) Sit back and relax.

Looks like we have a short market....even though our intraday levels are bearish we did get a bounce from our major support levels....since this has happened I would wait first for a trendline break and pull the trigger short...

Overall look for today bearish...

Wow. One word to describe the move over the last 24 hours = attitude.

Called this trade again, but I was on the sidelines (seems to be a pattern for me to not make pips of these posted trades, think i'm going to stop..lol). Got long trigger one 1 hr, but stochs were already overbought, so was waiting for a small pullback, but she kept going up, up, and away. It's alright though b/c I banked 70 on Euro so no worries. Next time I'll have to pull the trigger and not pay attention to the colorful lines at bottom of my chart.

Right now I'm already in short cable b/c I see a lot of resistance in this area so she should come back down eventually. IMO this move is unstainable so it should work out. I'm in short Euro too waiting for the retrace to inner fib levels.

As far as cable, IMO a statement has been made today she's not going down easily.

Same here, saw the move late and waited and waited for the pull-back and it just didnt happen so had to let that one go, cable still bullish to me based on my weekly chart though in this current market conditions.... it could reverse anytime.

Not check the fundies yet but if ur saying the fundies are positive for cable then we should be expecting a bullish week........., well we see how it plays out til the end of the week.....

My interpretation of long term fundies is we should be going down, and we have a bearish head and shoulders pattern trying to complete on daily and weekly.

HOWEVER, the bounce off 1.9360 was quite impressive just like the other times. I thought I was watching the Euro this morning based on the rally she gave us. Anyways, sentiment seems to have shifted to long bias (not sure why - perhaps no rate cut amid inflation concerns, and weakening dollar). I'm waiting to get long at 1.9615 area if she gets there and I think if we get the bounce there should have enough momentum to break the resistance levels @ 1.9700. I could also be biased towards taking a long position at lower levels b/c I'm still holding my shorts from earlier.

Just my 1.382 cents.

EDIT: Ahhhh - my cable short just hit. Feels good to stick to my plan. Still got Euro shorts going looking for about 60 more pips.

Here's an Aussie trade I took earlier. IMO Aussie is on steroids and I plan on keep taking long triggers on her for a while. Dollar Index shows dollar weakness. When there's dollar weakness commodities rally. Also when there's risk aversion in the markets, investors park money in Gold. Aussie has hit 24 year highs with Central Bank contemplating rate hikes. Hopefully it works out. I'm targeting .9644.

I can see you are really busy pimping those pips this morning, some of us are just getting out of bed. Just make sure you leave some for us we late starters.

Dont trade the AU, but i have been told to look into it cos she does move alot.....

Busy indeed my friend. Unfortunate Euro didn't work out but it's ok. Waiting for a set-up on cable after MPC. There's plenty of pips to go around man. Just need to be patient and disciplined.

Beautiful when it works out. I hope everyone's banking pips this morning.

Keep going my friend, I can see the pips are singing straight into pippybankbalance.

Im long on cable so monitoring this trade and see how it plays out, missed the early fun with Euro,but I will be waiting when next shes coming round.

I just took E/J short. Not really based on fibs. Just that Euro is at top of it's channel and stalling and I believe U/J will be going down some more today b/c I think S&P poised for a fall which will bring U/J with it. I also see divergences on 1 hr chart at resistance indicating a move down. I'm in at 162.79 shooting for 161.63. Let's see if I can keep rolling.

Good luck with the cable long. TBH I haven't really been looking at it this morning When I was watching earlier resistance was holding at 1.9682. Good luck buddy.

I also see a E/U short right now with the break of the low of the pinbar to inner fib levels. It's risky though and could be a bumpy ride (i'm considering it but I don't want to overdo it today). This E/J is the last trade for me today - best RR IMO.

I can see why you took the short on E/J with about 160pips move up and the E/U and U/J looking bearish, you might be onto another singing pips to the pippybankbalance.

Yeah cable aint moving yet so it might a long one today..........btw its cable she aint on Steroids