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Simple & Consistent Fibbing Method

  • #121
  • Edited 5:12pm Mar 8, 2010 4:56pm | Edited 5:12pm
Took a short at first resistance 1.5090 area (1.5077). Stop at breakeven, Take profit at 1.4960. I believe 1.4950 thereabout is the targeted area. Possible long trade setup THERE.

Once again, gonna be off for a bit to make my way home and update with charts!
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  • #122
  • Edited 7:49pm Mar 8, 2010 7:23pm | Edited 7:49pm
Closed short a 1.5077 for +59 pips. Had a really good day today, +307pips.

http://img291.imageshack.us/img291/6817/pic2br.jpg
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  • #123
  • Mar 8, 2010 8:08pm Mar 8, 2010 8:08pm
Today's high is 1.5194 and low (to the current time) is 1.4992. We fib the days high to low to project targets and other levels going into tomorrow. With such a huge trading range, deep retracement is anticipated. We are currently buying off the 1.4987 support which may take us to test 1.5093 again or even the resistance of the swing low at 1.5115. Additionally, a 1 & 2 was down on the downward trendline, now awaiting a 3. Tomorrow will give a more precise view.

http://img62.imageshack.us/img62/4558/pic3n.jpg
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  • #124
  • Edited 3:02am Mar 9, 2010 2:51am | Edited 3:02am
Good Morning All! Sleep got a little more out of me this morning. But ranging markets, hovering around the 50% support at 1.4987.Checking out charts, I see where we just had a BEARISH BREACH of today's high/low. A close below 1.4987 (50% fib of upmove) is still required for further shorting.

http://img169.imageshack.us/img169/5559/pic6h.jpg
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  • #125
  • Mar 9, 2010 2:58am Mar 9, 2010 2:58am
Quoting simoneg
Good Morning All! Sleep got a little more out of me this morning. But ranging markets, hovering around the 50% support at 1.4987.Checking out charts, I see where we just had a BEARISH BREACH of today's high/low.

http://img191.imageshack.us/img191/3866/pic5o.jpg
Good morn. Already in a trade. These bears acting up right now.
A. Finesse Williams Making Millions One Pip At A Time!
  • #126
  • Mar 9, 2010 3:03am Mar 9, 2010 3:03am
Short @ 1.4984 & 1.4980
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  • #127
  • Mar 9, 2010 3:07am Mar 9, 2010 3:07am
Closed shorts for +45pips. That was so fast!!! awilled did u catch that trade?
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  • #128
  • Mar 9, 2010 3:10am Mar 9, 2010 3:10am
Quoting simoneg
Closed shorts for +45pips. That was so fast!!! awilled did u catch that trade?
yep!
A. Finesse Williams Making Millions One Pip At A Time!
  • #129
  • Mar 9, 2010 3:11am Mar 9, 2010 3:11am
Quoting aswilled
Good morn. Already in a trade. These bears acting up right now.
Great aswilled!!!
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  • #130
  • Mar 9, 2010 3:11am Mar 9, 2010 3:11am
Quoting aswilled
yep!
Cool! :nerd: Not holding anything for too long here. Dangerous grounds, so out at first bear target. Waiting to adjust low on candle close.
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  • #131
  • Mar 9, 2010 3:15am Mar 9, 2010 3:15am
Quoting simoneg
Cool! :nerd: Not holding anything for too long here. Dangerous grounds, so out at first bear target. Waiting to adjust low on candle close.
With today's high?
A. Finesse Williams Making Millions One Pip At A Time!
  • #132
  • Mar 9, 2010 3:21am Mar 9, 2010 3:21am
Trades below 1.4987 Still valid. We are close to today's BEAR Targets so be careful!!!

http://img13.imageshack.us/img13/4007/pic7yo.jpg
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  • #133
  • Mar 9, 2010 3:22am Mar 9, 2010 3:22am
Quoting aswilled
With today's high?
Yes aswilled.
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  • #134
  • Mar 9, 2010 3:30am Mar 9, 2010 3:30am
Quoting simoneg
Yes aswilled.
Good. Just checking. I see your chart looks like line. But We're a pip off on the bear targets. :nerd:
A. Finesse Williams Making Millions One Pip At A Time!
  • #135
  • Mar 9, 2010 3:33am Mar 9, 2010 3:33am
Quoting aswilled
Good. Just checking. I see your chart looks like line. But We're a pip off on the bear targets. :nerd:
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  • #136
  • Mar 9, 2010 3:37am Mar 9, 2010 3:37am
Out +12, do not like price action. There is strong support at 1.4940 (from Yesterday's analysis). Preparing buy dont think I will go short any more!
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  • #137
  • Mar 9, 2010 3:57am Mar 9, 2010 3:57am
Long at 1.4947, based on support @ 1.4940 close to today's BEAR targets and struggle to get beyond. TP 1.5060. Usually when targets are rejected, meaning, the low or high is broken and there is failure to reach the targets. We adjust the fibs and target the resistance (80.9) if the market begins to buy or the support (19.1) if the market begins to sell. Next we target the Bull or Bear targets of the swing.

http://img442.imageshack.us/img442/3306/pic8wl.jpg
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  • #138
  • Mar 9, 2010 4:10am Mar 9, 2010 4:10am
Since we are considering a bullish reversal. We should be looking for upward breaches of the 50% level. Current 50% level is at 1.4981, however, since there is a strong resistance at 1.4987, we will use that level as our breach level, meaning we need a candle close above that price for continued buying.
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  • #139
  • Mar 9, 2010 4:32am Mar 9, 2010 4:32am
Quoting simoneg
Long at 1.4947, based on support @ 1.4940 close to today's BEAR targets and struggle to get beyond. TP 1.5060. Usually when targets are rejected, meaning, the low or high is broken and there is failure to reach the targets. We adjust the fibs and target the resistance (80.9) if the market begins to buy or the support (19.1) if the market begins to sell. Next we target the Bull or Bear targets of the swing.

http://img442.imageshack.us/img442/3306/pic8wl.jpg
How do you copy your screen and place it on the thread?
A. Finesse Williams Making Millions One Pip At A Time!
  • #140
  • Mar 9, 2010 4:36am Mar 9, 2010 4:36am
Quoting simoneg
Since we are considering a bullish reversal. We should be looking for upward breaches of the 50% level. Current 50% level is at 1.4981, however, since there is a strong resistance at 1.4987, we will use that level as our breach level, meaning we need a candle close above that price for continued buying.
Sounds like a plan...
A. Finesse Williams Making Millions One Pip At A Time!
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