Fibonacci Paradise

Bartstop asked "But how do you know when to close your trade if price bounces off the 138 every time?"

Bouncing of the 138 is what I am looking for, that is how I am comfortable trading.

Choose a time frame (preferably larger than 1 minute) and take profit "every time" something is going to happen after each touch, it will go up.. or down

in ..tp, in..tp in.. tp, then off to the __________ (beach , pool, mountains)

or would that be too much profit?

Exercisefor anybody,not just Bart)
On the move down from 134.62, find targets 133.51 then133.23 then 132.80.
DO NOT POST CHARTS,let anyone coming here do the exercise for themselves.

Those are easy targets, the bounce at 132.55 was a little trickier, but still very tradeable.

This is just an exercise to identify targets, and hopefully identify entry possibilities.

The dancer was spinning clockwise for me but I was able to concentrate and spin her the other way.

MD.

I was clockwise also, I tried for 5 minutes to get her swinging the other way.

She wouldn't listen!!

Have to try again later!


EDIT : There I got it, that is crazy.... MD, maybe you should try trading from the other side of your brain

Try concentrating on just her feet, imagine that when her feet are pointing towards you they are actually pointing away from you. That's when she changes direction.

Does that make sense?

Maybe I should sling the rods in the car and go fishing for a few days. I know what you mean Eggman.

I'll look at gy bounces later.

MD.

Dancer ? sometimes I see two faces, other times I see a glass . . . am I doing this wrong

Am I on the right track? I'm assuming the TP would be the new blue target?

Would you trade short from here?

Bart, you weren't supposed to post the charts.

Raptor, I just looked again and all I could see was a helmet!

Md.

You have got the idea, looks good.

I try and look for good risk/reward trades.

Can you see some, just keep tight stops.

Yes I get stopped out, but I have great entries which I can bring stops in super tight.

You don't have to trade this on a 1minute TF.

It is great practice, though.

A HELMUT .... FACES A GLASS

NO WONDER YOU GUYS CAN'T SEE THE FIBS!!

BART careful of the 133.22

You do get English humour don't you Egg?

Egg,

Based on this comment; does that mean that you do not make allowances for data differences of a pip or so? That one was mighty close; if I follow your logic.

Thanks for the input.

HEY, Bart is the yank, pick on him

I've always fancied visiting Canada as well but I gotta go to Kansas first, I hear they do some mean ribs there!

MD.

I tried changing my location to botswana before you checked... too slow

Botswana, Birmingham, it's all the same to me.

Yes there can be allowances for data, normally on a one minute it is relatively small ( not extrapolated very much)

We're on m1 right now but once (if) the blue fib gets pulled higher and higher and the fib lines get further and further apart, we'll move to higher timeframes. Correct?