Price does what price wants , I just need to be prepared.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #121,982
- Oct 13, 2008 9:29pm Oct 13, 2008 9:29pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
i specifically left the fibo extensions on the chart. did you look at them? i doubt we will see a reversal before a fib level is hit.
How can you tell Scrat, there is no absolute black and white thing and I see over-bought everywhere ..
Nihil Sine Deo.
- #121,983
- Oct 13, 2008 9:31pm Oct 13, 2008 9:31pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #121,984
- Oct 13, 2008 9:33pm Oct 13, 2008 9:33pm
Godfrey,
do you draw the fibzones or is there an MT4 indicator? Could not find one so far.
Thanks!
here's one with both up and down levels,
with -6765 zone specially added for guppy (never needed before)
"Everybody needs money. That's why they call it money" - Danny De Vito
- #121,985
- Oct 13, 2008 9:37pm Oct 13, 2008 9:37pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
I wondering as for you all who are not a full time trader but spend more time than your real job .. I guess I am also one of them .. my real job boss is taking note on me now ..
This is insane and should change .. my goal is to become a full time trader but don't know when yet ..
This is insane and should change .. my goal is to become a full time trader but don't know when yet ..
- #121,987
- Oct 13, 2008 9:40pm Oct 13, 2008 9:40pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
you'll know when, don't worry.
I wondering as for you all who are not a full time trader but spend more time than your real job .. I guess I am also one of them ..
This is insane and should change .. my goal is to become a full time trader but don't know when yet ..
Nihil Sine Deo.
- #121,988
- Oct 13, 2008 9:42pm Oct 13, 2008 9:42pm
I wondering as for you all who are not a full time trader but spend more time than your real job .. I guess I am also one of them .. my real job boss is taking note on me now ..
This is insane and should change .. my goal is to become a full time trader but don't know when yet ..
Lost...
- #121,990
- Oct 13, 2008 9:44pm Oct 13, 2008 9:44pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
these lower fib zones are weak considering the accelerated drop last week, and they are not S/R by themselves just averages, fib retracement lines are actual S/R, I see the first serious resistance at 185-186, that's where the 23.6 from 251 sits, and also the 61.8 from 215;
and here's just a simple math:
the Dow has gained since Friday 936 points, or about 12% increase since the record low volume registered last week;
12% X 166 (guppy's low last week)= 19.92, or a whopping 1992 pips;
166+19.92=185.92
that's where we should be by now, already;
the retrace to one of the lower fibs..of course is due,
but probably tomorrow or in the coming days, rather than tonight.
From the Highs to the Lows the DJIA has fallen from 14164.53 to 8451.19 or around 40.33%
similarly the highs of GJ is 250.427 and lows 165.95 has only fallen 33.73%.
If your 1:1 relationship were to hold then GJ should be 149.42 by now.
- #121,993
- Oct 13, 2008 9:48pm Oct 13, 2008 9:48pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #121,994
- Oct 13, 2008 9:51pm Oct 13, 2008 9:51pm
slide I'm not sure how you can justify the 1:1 relationship you are basing your argument on. For the sake of the discussion say that you are correct, lets extend your theory out.
.
"Everybody needs money. That's why they call it money" - Danny De Vito
- #121,997
- Oct 13, 2008 9:56pm Oct 13, 2008 9:56pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #121,998
- Oct 13, 2008 9:57pm Oct 13, 2008 9:57pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #121,999
- Oct 13, 2008 9:59pm Oct 13, 2008 9:59pm
- Joined Aug 2007 | Status: Jamaica | 1,069 Posts
these lower fib zones are weak considering the accelerated drop last week, and they are not S/R by themselves just averages, fib retracement lines are actual S/R, I see the first serious resistance at 185-186, that's where the 23.6 from 251 sits, and also the 61.8 from 215;
and here's just a simple math:
the Dow has gained since Friday 936 points, or about 12% increase since the record low volume registered last week;
12% X 166 (guppy's low last week)= 19.92, or a whopping 1992 pips;
166+19.92=185.92
that's where we should be by now, already;
the retrace to one of the lower fibs..of course is due,
but probably tomorrow or in the coming days, rather than tonight.
But also, given that we apply them at reversal points, then they could also be used at say, 215 rather than 251 ,I would imagine. I see why we need the extra fib level now.
