Simple & Consistent Fibbing Method

There is strong resistance @5014. And the T3 Resistance is @5011.

As we make a new daily high, we adjust our intraday accordingly. Though we are having this rejection at resistance (5014), we are still in a buyer's market because price is above the 50% levels on the swing fib (taken from up swing high/low) and the intraday:

http://img37.imageshack.us/img37/372/cmcapture2.jpg

Hi all.
I regret that i closed all my long trades yesterday, and
didn't naked on todays train witch is going up.

The 10 DMA reversed the last up move. We will be at the 10 day some where around T3 5046.

That was a retest of resistance, which is now support. The market will always retest. It loves it. Hope everyone is making some good pips.

Good Morning All! Nice Buy off yesterday's support continues. Exposer, sometimes it is better to be safe. At least you banked some profit and can get other opportunities for entry.

Please keep 1.5100-1.5115 in mind, however, it appears we may shoot beyond that over the next couple of days. We may actually exceed today's bull targets.

1.5033 is the 50% of this entire drop and next place for entries.

Have a good day! Keep it simple and safe!

Very tired today!

We hit the 10 day @5061.

Longs off 1.5033, will most likely occur later. Pullback to 1.4990 and 1.4945 are preferred areas for buying.

1.5033 support however, should not be ignored

Hi aswilled, how is it going?

We now adjust to the new high of 5064 and low of 4945 for the intraday. This puts our bull targets at 5129 - 5104. And the bears 4904 - 4879, respectively. And our pivot at 5004 (next to the figure). As the market makes its way down, pay close attention to a resistance level where the intraday 38.2 and swing pivot fibs meet: 4990.

http://img203.imageshack.us/img203/874/cmcapture1l.jpg
http://img62.imageshack.us/img62/9356/cmcapture2x.jpg

Doing good. Fibs don't lie... Got a good fill at 5060. Trendline is broken to the down side. I am going to show you how to set the 10 DMA on your charts. These fibs, the pivot points and the 10 DMA are some of the tools the professionals use to make their trading decisions. :nerd:

The 10 DMA (day moving average) is a tool used by the banks and large institutions that drive the market. The last two times we touch it we reversed. Now, the 10 DMA period number "10" is only valid on the day chart. Any chart below that has to periodized to fit that time frame. This way all 10 DMAs on all time frames will be signaling at the same time. Because they will all have the same price. The 1 minute does what it does. I think price is above the 10 dma in a buyer's market and vise versa. Here are the periods you are going to input into your moving average properties:

Time Frame Period
Day 10
4hr 60
2hr 120
1hr 240
30m 480
15m 960
5m 2,880
1m 14,400

How do you come up with the periods? Divide the time period into 24hrs. And remember people, if you are not trading like the big boys you will lose your money. So only use the indicators and signals that they are using. :nerd:

Are these SMA or EMA conversions? After loading them both in and seeing it touch the SMA, I would guess SMA but I wanna be sure. thanks

entering short 1.5040

Good to hear that aswilled. Ok will have a look at that 10DMA soon.

Thanks!

sma

Carefull with the shorts, 1.5033 is strong support. Will short below this price!

opening us liquidity picking up. bulls long strong. 10 dma looks stronger...

DMA wins!

Lets see how it reacts to the figure.

http://img352.imageshack.us/img352/5230/cmcapture1.jpg

How long are you going to hold it?