Or,
G.U.,
as you prefer...
Here's a 61.8 Retracement, possibly going for more
or -Less, who knows.
But we have a lower low, and she's retracing,
at least today back up some, from London's 04:00am ish lows...
of 1.48861/2 "Ish"
I'll try the "Gif." thing here,
'See how this works:
Jeff!
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #217,141
- Mar 2, 2010 7:30am Mar 2, 2010 7:30am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
- #217,142
- Edited 7:48am Mar 2, 2010 7:37am | Edited 7:48am
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
- #217,143
- Edited 7:48am Mar 2, 2010 7:45am | Edited 7:48am
- | Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts
I will work to Objectively Identify my Edges
- #217,144
- Mar 2, 2010 7:47am Mar 2, 2010 7:47am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
My 61.8% is 15420, but prior support at 1.5350 is a more realistic target for resistance test and would line up nicely for the GY test.
Maybe your method correct for FIBO. Should be draw and pull FIbo from top(100%) to bottom (0%)
- #217,146
- Mar 2, 2010 7:56am Mar 2, 2010 7:56am
my short in play targeting 132.00
my short trade is closed due to a crazy up move ,with 55 pips loss ,stop order at 133.60 has just been triggered .
now i'm on sidelines for now .
I always knew that someday I would make it big
- #217,147
- Mar 2, 2010 8:00am Mar 2, 2010 8:00am
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
LOL mine 61.8% is 1.5174 which is your 38.2% . I pull my Fibo from bottom(100%) to top(0%). I'm not sure i pull in the correct way of Fibo.
Maybe your method correct for FIBO. Should be draw and pull FIbo from top(100%) to bottom (0%)
- #217,148
- Mar 2, 2010 8:03am Mar 2, 2010 8:03am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
A retrace would start from 0 moving up to 100%. That way you know the percentage the price has pulled back. If price pulls back 38.2 % but it reads 61.8% on your fibo, that doesn't make a lot of sense.
- #217,149
- Mar 2, 2010 8:04am Mar 2, 2010 8:04am
it was a bad luck really.
my short trade is closed due to a crazy up move ,with 55 pips loss ,stop order at 133.60 has just been triggered .
now i'm on sidelines for now .
- #217,150
- Mar 2, 2010 8:17am Mar 2, 2010 8:17am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Woke again to read people going short again..I said in the past post that retracement is due first.. It is nice to take a long last night when everyone else is short.. I stated the market will not go lower yet in the last few posts..
it was a bad luck really.
my short trade is closed due to a crazy up move ,with 55 pips loss ,stop order at 133.60 has just been triggered .
now i'm on sidelines for now .
[
- #217,152
- Mar 2, 2010 8:40am Mar 2, 2010 8:40am
- | Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts
61.8, is the answer...
You're right... 50 is 50, you're right...
Look @CtiC's post's on Cable Update,
if you get a chance.
He play's it inverted, i think most often.
While GU love's a 50% retrace,
i think i recall a post of his w/his 61.8 in which it
does not go beyond that, rarely.
Don't quote me, -but look his stuff up,
He's had some very good calls,
Thanks,
Hope that helps,
Jeff!
You're right... 50 is 50, you're right...
Look @CtiC's post's on Cable Update,
if you get a chance.
He play's it inverted, i think most often.
While GU love's a 50% retrace,
i think i recall a post of his w/his 61.8 in which it
does not go beyond that, rarely.
Don't quote me, -but look his stuff up,
He's had some very good calls,
Thanks,
Hope that helps,
Jeff
!
I will work to Objectively Identify my Edges
- #217,153
- Mar 2, 2010 8:50am Mar 2, 2010 8:50am
- Joined Apr 2009 | Status: Know Your Wave | 2,640 Posts
lol. no worries. 
just bored with the PA atm...
you can also use the fib tool to project targets by lining up the 32.8, 50%, etc, fib levels with current SR and using it to line up the 0% with a projected support level price. is quite effective.
just bored with the PA atm...
you can also use the fib tool to project targets by lining up the 32.8, 50%, etc, fib levels with current SR and using it to line up the 0% with a projected support level price. is quite effective.
61.8, is the answer...
You're right... 50 is 50, you're right...
Look @CtiC's post's on Cable Update,
if you get a chance.
He play's it inverted, i think most often.
While GU love's a 50% retrace,
i think i recall a post of his w/his 61.8 in which it
does not go beyond that, rarely.
Don't quote me, -but look his stuff up,
He's had some very good calls,
Thanks,
Hope that helps,
Jeff
- #217,154
- Mar 2, 2010 8:56am Mar 2, 2010 8:56am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
lol. no worries.
just bored with the PA atm...
you can also use the fib tool to project targets by lining up the 32.8, 50%, etc, fib levels with current SR and lining up the 0% with a projected support level you expect price to reach. is quite effective.
- #217,155
- Mar 2, 2010 9:00am Mar 2, 2010 9:00am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
lol. no worries.
just bored with the PA atm...
you can also use the fib tool to project targets by lining up the 32.8, 50%, etc, fib levels with current SR and using it to line up the 0% with a projected support level price. is quite effective.
*******************
I'd rather make money than be right.
Face both Win and Lose bravely
- #217,159
- Mar 2, 2010 9:29am Mar 2, 2010 9:29am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++