1. I got it ! Eureka . .
2. Maybe not. .
3. Surely, This must be it.
4. Bummer !
5. Back to 1.
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DislikedSkong. All the fibs you have drawn agree within my thinking of how to fit them to current price. Your Blue fib would act as a larger fib I suppose and your Green a smaller one for gauging current price action. The red one, although correctly drawn from my perspective, we do not need yet as the green has not yet completed.
I have removed the red fib. Interesting that it reached the 138.2 ext at the London session. I have inserted a black fib. That is another reason why price did a U turn, without hitting the green 138.2 ext.
I was...Ignored
DislikedI see what you are doing with your charts Skong, you are looking for respect of more than one inner fib ala TK. Your daily one doesn't quite pull to a swing high for me though, sorry gotta pick holes there. I think TK looks for a recognisable swing where all the inner fib levels are respected as well.
I think you're getting there though.
I was practising FX Compass's method in Forextester last night. Let's just say I had more winners than losers.
Right where's that wallpaper........Ignored
DislikedDunkan, somtimes I wonder what I am looking for, lol. I'm just trying to help the other posters here. I do like a puzzle to solve and if I'm going to solve I need to look at all the clues first so I can start looking in the right place. Unless you want to just tell me what to do but that wouldn't be keeping with the nature of this thread would it. We all need to find it ourselves. Gotta run or I will miss my train!Ignored
DislikedIf the fibs were drawn as in the first chart. There was a break out of the 100 and it failed to reach the 138. The way to trade this was to go long when price exceeded the 100 line by a single pip. Then place a stop and reverse at the 78 retracement with an expectation of price going back to the 50. Which it eventually did.
Is this correct?Ignored
DislikedI hope my flippant 'fib and chips' reply will not be mis-interpreted as disparaging this thread.
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