Deep Fib Zones with Daily High/Lows

Focus Point will be Deep Fib Zones with Daily High/Lows.

Day-to-Day technical and fundamental analysis with screenshots.

Today: G/U focus.

Drew Daily High/Low from earlier today and Fibs on 1hrly short.

Looking for Deep FIB opportunities

Early Tues Morning 8AM. PRice have not reached deep fib zone nor daily high/low.

Note: It did bounce off 38 FIB.

Respected the Daily high of previous day, before trying multiple time and bursting past it creating a new high.

For Next Sessions Opportunity

Fed fund rate cut to .25%, looking for the GBPUSD to rally long term. Remember Buy the dips in an uptrend..

The GU made a 370 pip rally today and we all know when there is a big movement in the currency we usually see some pull back. So looking to catch the retracement down to the 79% fib where we can get a bouce. The 79% fib is a strong support level look at yesterdays chart and you will that it was once resistance on the 1hour chart.

BUY/Sell entries put with SL set at 30 pips.


BUY 1.5355
TP 1.5415
SL 1.5325
Reason: .79FIB with multiple frats lines.


SELL 1.5650
TP 1.5610
SL 1.5680
Reason: Daily Hi on Dec 16th

Both Trades hit SL before going to profit

Trading Opportunities set

Check this

check out the fibos on the 1hour chart

See the difference?

Deep fibo 127% ( buy) 1.5128 t/p 1.5240

chart for above

If The EU dips a good buy area would be 1.4112
- key level supported by 79% fibp on 12/17 and was the high of 12/16



If the EU rallys a good sell area would be 1.4807
- this is the 127% fibo

Japan's Yosano says BOJ rate cut was bold decision.

So JPY made their cut but their currency still stregthen.

The GBP currency is getting beat across the board, while EUR holds its own.

Need to focus on Sunday the Calender for the week.

Note it is holiday week and usually lil volume.

This is a very good thread.

Cheers

- Good trade opportunity
- The red horizontal line is a daily support level 1.4983
- Price hit that level and rallied 117pips to 1.5100
- The following two charts illustrates this trade

Chart 1 (5min Chart) displays the actually trade entry point
Chart 2 (daily chart) displays some daily and weekly SupportResistance levels

Happy trading

we are still in the same trading session jan 8, 2009 and another trade opportunity on the GBP/USD.

- Price Hit a daily resistance level and was rejected.
- see chart below, price has drop 114pips and still counting

- Seeing a daily resistance level @ 1.3923
- that level was support back on 9/11/08 and remained a good support level a couple days towards the end of December 08.
- If price rally’s we may see a bounce, see chart below

Happy trading