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Simple & Consistent Fibbing Method

  • #1,061
  • Apr 27, 2010 5:52am Apr 27, 2010 5:52am
The next breach level from fibbing the high of today, 1.5457, to the low of 1.5190 (April 19 6:00am), finds us at 1.5323, where we are currently stalling. This is a level to watch. If price begins to close below this breach level, we will have stronger selling.
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  • #1,062
  • Apr 27, 2010 5:59am Apr 27, 2010 5:59am
That breach level is my `previous week' fib @ 50% - Watching like a hawk

Could bounce off todays 1.5346 as a consolidation before breaching the 50%

correct me if I am out on my chartism...
  • #1,063
  • Edited 8:00am Apr 27, 2010 7:49am | Edited 8:00am
Quoting Acedup
That breach level is my `previous week' fib @ 50% - Watching like a hawk

Could bounce off todays 1.5346 as a consolidation before breaching the 50%

correct me if I am out on my chartism...
Very right! That is the flip view of that same level (1.5330), which we can be the likely play out especially after the long drop.
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  • #1,064
  • Apr 27, 2010 8:04am Apr 27, 2010 8:04am
Just got u Acedup...1.5343 from fibbing 1.5495 to 1.5190. Yes that's a good area to watch.
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  • #1,065
  • Apr 27, 2010 9:25am Apr 27, 2010 9:25am
Quoting Acedup
That breach level is my `previous week' fib @ 50% - Watching like a hawk

Could bounce off todays 1.5346 as a consolidation before breaching the 50%

correct me if I am out on my chartism...
Nice one, Acedup !

I had my Weekly High at last week's high, but tweaking it up to 5496 makes all the difference in the picture.

Now price is hooking back up to the 50% Weekly Pivot level at 5343 ... a +ve reaction to this line one way or the other would be important.

Thanks !

Loudoniii
  • #1,066
  • Apr 27, 2010 11:25am Apr 27, 2010 11:25am
Our GU short trade has reached its TP at 1.5260 presenting opportunities for going long. Now Long off this level, which is strong support as per yesterday's analysis.
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  • #1,067
  • Apr 27, 2010 11:30am Apr 27, 2010 11:30am
Quoting Acedup
That breach level is my `previous week' fib @ 50% - Watching like a hawk

Could bounce off todays 1.5346 as a consolidation before breaching the 50%

correct me if I am out on my chartism...
Great entry off this level Acedup!!!
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  • #1,068
  • Apr 27, 2010 11:54pm Apr 27, 2010 11:54pm
The Top Of the Hour report is as follows:
Looking at the last major swing fib, we see gu catching support at the 19.1 level. These dojis are making higher highs, lows and closes for these last two months. This monthly chart has a tl that it appears the market is struggling to get to. By next month it should test this tl (for touch #3) if the bulls enter May roaring. We also see where this approximate level has been s/r for some time.

http://img27.imageshack.us/img27/6485/cmcapture2wl.jpg

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  • #1,069
  • Edited 1:06am Apr 28, 2010 12:19am | Edited 1:06am
For the last 4 weeks price has been in a three hundred pips range. Bouncing up off the yearly fib's pivot (which the market is presently testing). Last month price was in the same type of range, bouncing up off the 38.2 sup. Price is coming to the end of the pennant by May's end. The 61.8 resistance level is @5698. Which was support back in Oct./Nov.

http://img718.imageshack.us/img718/9470/cmcapture1w.jpg

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A. Finesse Williams Making Millions One Pip At A Time!
  • #1,070
  • Edited 1:08am Apr 28, 2010 12:46am | Edited 1:08am
Looking at this monthly fib we see that the market failed to reach monthly targets. What does that mean? According to SFM rules, next month should enter in with massive buying to reach bull targets @5587 & 5711. Or we should see a reversal at this 80.9 level (or pos. high?) that price has been flirting with all month. Price gave a valiant try but came shy of T1, before crashing back under the 80.9 level on 4/27/10. The bull (26th) candle and bear candle of yesterday came to the tl, made a high, and dived. If bulls fail to remove their failure between now and the first week of May, we should be looking to hit the respective bear targets for the month of May.

http://img512.imageshack.us/img512/5230/cmcapture1.jpg

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A. Finesse Williams Making Millions One Pip At A Time!
  • #1,071
  • Apr 28, 2010 1:03am Apr 28, 2010 1:03am
Final analysis:
Price is bouncing between the yearly pivot and this weeks 19.1 level. This level was support for the pound last week. Price came into this week with a roar. Attempting to reach bull targets and was stopped at the high. It has since dropped to the 19.1 level and finding support once again. Also notice the 10 DMA sitting above 61.8 level @5368. Hmmmm... So there you have your range to look for price to brake during this trading session. My sentiments are bearish on the pound. :nerd:

http://img186.imageshack.us/img186/43/cmcapture1z.jpg

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A. Finesse Williams Making Millions One Pip At A Time!
  • #1,072
  • Apr 28, 2010 5:45am Apr 28, 2010 5:45am
Im short of 1.51902 being the 0% of the weekly fib.
  • #1,073
  • Apr 29, 2010 3:23am Apr 29, 2010 3:23am
hmm, I can't connect to chatroom today
  • #1,074
  • Apr 29, 2010 3:55am Apr 29, 2010 3:55am
looking how we tested and didn't break 19.1 resistance of weekly fibo, took a small short at 5234, TP 5200 which is 19.1 support of teh last big move down.
  • #1,075
  • Apr 29, 2010 4:04am Apr 29, 2010 4:04am
TP missed by 2 pips on teh initial move down, moved my SL to BE+6 put a trailing stop of 5 pips on the second move down. Trailing stops are pure evil
  • #1,076
  • Apr 29, 2010 4:08am Apr 29, 2010 4:08am
Quoting Vark
TP missed by 2 pips on teh initial move down, moved my SL to BE+6 put a trailing stop of 5 pips on the second move down. Trailing stops are pure evil
...and they are! out of the trade +18 pips. I should've put a 50% of the daily (52057) as my TP, we tested it and bounced back, could've been 30 pips, oh well, next!
and just tested it again...
like I said - trailing stops ...
  • #1,077
  • Apr 29, 2010 4:18am Apr 29, 2010 4:18am
here's the chart. I have moved the intraday already, after 100% was broken and we had a pullback to 80.9
Attached Image (click to enlarge)
Click to Enlarge Name: resistance_trade 4-29-10.jpg Size: 189 KB
  • #1,078
  • Apr 29, 2010 4:41am Apr 29, 2010 4:41am
sorry, intraday is a bit shifted down - I think when I was moving the entry and exit signals, shifted it by accident
  • #1,079
  • Apr 29, 2010 5:37am Apr 29, 2010 5:37am
took a long after that 19.1 of weekly became support and we had a 50% breach at 5250. The previous high of the day and weekly 19.1 are still holding, watching PA carefully. TP 5283. strong resistance at 80.9 daily
  • #1,080
  • Apr 29, 2010 5:40am Apr 29, 2010 5:40am
Quoting Vark
took a long after that 19.1 of weekly became support and we had a 50% breach at 5250. The previous high of the day and weekly 19.1 are still holding, watching PA carefully. TP 5283. strong resistance at 80.9 daily
Good Morning Vark, good trade, interesting area too, watch closely.
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