Simple & Consistent Fibbing Method

I have not found this method to be restricted to any time frame or currency pair. I have traded it on the GBP/USD, EUR/USD & USD/JPY on 15M and H1 charts.

Was tired and missed a beautiful setup this morning!

http://img641.imageshack.us/img641/4333/mondays.jpg

In the above chart, your entry would be right on the candle that retraces after the close below the 50% (circled in yellow above).

There were quite a number of setups this morning and throughout the day on different pairs. Will post these later.

My change in schedule is killing me. Trying to adjust, hopefully I will be able to catch back my 3:00am EST routine by the ending of this week. Nevertheless, for those who have caught this method. You should have caught some very good trades so far this week. The EUR/USD,GBP/USD & USD/CHF gave good setups. These are the pairs I focus on.

Got some good trades today on EUR/USD and USD/CHF. Charts will follow shortly. I prefer to do the reverse but not able to get full access in the days for now.

I see two possible setups, though not my ideal trading time, on the EUR/USD and USD/CHF. Please see charts below. Once the 8:30/8:45pm EST candle closes below the 50% I am going short on EUR and long on CHF, targets 1.3555 and 0.0800 respectively. Otherwise, I await test of 80.9 and 19.1 levels. Failure of EUR to close below 1.3628 will lead to further buying and therefore selling of CHF.

EUR/USD

http://img29.imageshack.us/img29/5167/eursetupmar3.jpg

USD/CHF
http://img138.imageshack.us/img138/934/chfsetupmar3.jpg

I am short the EUR and long CHF. Next breach level for EUR is 1.3620 for second entry. 0.0741 is the next breach level for CHF.

Will short EUR a second time below 1.3628 if that level is breached again. Will also add to my CHF trade on breach of 0.0736.

EUR and CHF were stopped out for -35 and -25 pips respectively. Will stick to the morning setups. Next Trade...

Long GBP on last shown candle(8:30am EST) above 50%. TP 1.5100

http://img192.imageshack.us/img192/3886/gbpmar3t1.jpg

Stop loss for GBP trade at break even due to candle patterns on trendline hit#3.

Please note that the red fib in Post#31 shows Bull targets at 1.5100 and 1.5120. 1.5120 is also the 50% of the downward swing from 1.5475 to 1.4782, hence I will take profit at the first target, 1.5100.

Unable to post charts from where I am at. So, this is my active trade.

http://img521.imageshack.us/img521/6540/currentpos.jpg

Stop now at 1.5040, locked +15 pips profit. Leaving trade.

Out with +15pips. Watching for other setup on this pair. Unable to post charts now.

Possible long setup at 1.5047 on GBP as market is currently unable to breach that 50% level (fib 1.5065 to 1.5028 to see this), which is acting as strong support.

New Long on GBP, still targets 1.5100-1.5120, as interim targets.

Still awaiting setup!

1.5047 50% level breached. I am awaiting a close below this level to confirm breach and a retracement for short entry. TP @1.4935.