EURUSD

Ah $hit; Another channel between 1.3620 & 1.3560.
Just MHO.

Wait till Monday the 12th before risking Med Term Funds.

I prefer to figure out what I'm wanting to see... Meaning either way works but one way gives you the correct value for my purpose and the other way gives you the thing you said.

For example, my fib as drawn is simply a "Resistance" fib, meaning if price continues on higher than the current high, it will encounter resistance at 114%, 123%, 138%, 150% and so on up to whatever FE's ((Fib Extensions)) you want to use. ((I have those levels and more loaded up but usually hide them for clarity, especially on forum posts. I know if I can't read a chart, I just move on and assume others do the same))

Obviously on this fib, as price is dropping, those same Resistance levels on the way up become "Support" on the way down, and I'm very used to making any adjustments on the chart in my head on the fly, I don't even think about it really.

If I'd drawn it the way you suggest, then the fib levels would represent resistance to be pushed thru, on the way to lower lows, and retraces back up would then be hitting "support". I guess my head just works from bottom to top, lower to higher most of the time and so I see things that way until price has really set a clear long term direction, when I'll maybe reorient...

If I'm looking for a retracement fib, then you are correct and I draw them the way you said, but most of the time I'm looking for price to continue on the way it was headed, and draw the fibs accordingly, converting the retraces in my head.

Here's a link to a post I did on the old fart thread earlier tonite with ALOT of negative FE's, and price is still respecting them somewhat. Been too lazy to go and draw a new fib on that chart.

Besides it still works, and on the OLD FART thread, our motto is "Anything that still works is worth keepin..."

http://www.forexfactory.com/showpost...1&postcount=66
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I hate MA's... when they get in the way.

i was wrong about one thing and right about the other.

break did happen.....just had to be 55 though.

got stopped out and now wishing i never closed my original shorts!!!

But till than we can play “scalp the pips” a bit

Bemac, by chance did you mean 3720??

Of course YOU can But I'm not sure the general populus have your expertise upon Scalping:

I think he was writing in scottish

No! You have every reason to be correct {& I see where you are coming from} but I meant what I said...

In this miserable PA I'm hunting only 3 to 8 pips at the moment.

But tomorrow will be a good action day I guess.

Not to make anyone stumble, but the 15m to 1hr EJ chart looks interesting. I had to quit trading it cuz IBFX got me so worked up over the spreads, I said phooey on it.

Don't you work with FXsol anymore? I like the fixed spreads, especially in the last weeks.

no, charts only at this point. that could be changing soon. borker problems going from bad to worse. trades closing several pips away from order values, or not closing at all and then going on to wherever.

i've had over a dozen of those in the last 3 days do that. sometimes a few pips in my favor, sometimes against me. very weird. it's gettin handled but lots of time on the phone which i hate...

oh well, calling it a night here. early morning coming up...

Gotcha dog! It makes perfect sense to me now why it is drawn that way.

It makes sense to me, and I have finally pried a nugget of how that intricate mind ( sometimes devious) works. Thanks for sharing as I always wondered why I struggled with this concept when I drew my fibs.

I will continue to pick your brain like a chicken on an ear of corn, unless you bleed out!

Bbbu...bbbu...but what about them thar tires?

anyone long eu, looks like eu need to climb

What I am seeing is unreal, I'm another 15 minutes of a 2 pip range away from pulling my hair out!

Hrmm.. I thought the eu will go down.

same here

Is gonna drop like a rock. This whole move was just a retracement of the monthly trend.

this chart eu will go up,