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Simple & Consistent Fibbing Method

  • #1,761
  • Jul 13, 2010 12:52am Jul 13, 2010 12:52am
The market is looking bullish with this hammer resting on the monthly 80.9 @4988.
http://img413.imageshack.us/img413/2460/cmcapture1k.jpg

Uploaded with ImageShack.us

Also with weekly bear targets being met (4990-4951), the market bounced off of T2 with a nice bullish engulfing, followed by a hanging man and three dojis.
http://img713.imageshack.us/img713/372/cmcapture2.jpg

Uploaded with ImageShack.us

However we need a brake of this trendline to facilitate buying and a break of 5054 to really start this uptrend.
http://img717.imageshack.us/img717/4128/cmcapture3.jpg

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Weekly support is at 5006 and our daily pivot is at 5018. The market is in a crunch. Look for big moves today during london and/or us session(s). :nerd:
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  • #1,762
  • Jul 13, 2010 5:32am Jul 13, 2010 5:32am
Quoting lljazz
Gotcha. Although the trendline through B i also got. That trendline is holding now and is giving a short signal. But let's see what happens until Europe open.

Thanks for the picture!
GM lljazz, that's the point, possibilities...
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  • #1,763
  • Jul 13, 2010 5:33am Jul 13, 2010 5:33am
Quoting aswilled
Weekly support is at 5006 and our daily pivot is at 5018. The market is in a crunch. Look for big moves today during london and/or us session(s).
Aswilled, what you meant by the weekly support is the 19.1 level right? I saw on your 4H chart, the 19.1 level is at 1.50902 and on my chart is 1.5089. So, where did you get that 1.5006? Thanks..
  • #1,764
  • Jul 13, 2010 5:46am Jul 13, 2010 5:46am
Yesterday the GU reached its weekly bear targets and restested those levels (which are in the vicinity of last month's resistance at 1.4978) early in the London Session, giving deeper retracement to facilitate further buying. We have now stalled at last week's short level (38.2) and the support level 19.1 is being tested. Of significance is the fact that we are currently trading above last week's low at 1.5050. Lots of support below in the 1.5050 to 1.5020 area. So far however, we have tested and failed to break last month's high at 1.5127.
Attached Image (click to enlarge)
Click to Enlarge Name: GU_2day.jpg Size: 408 KB
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  • #1,765
  • Jul 13, 2010 6:19am Jul 13, 2010 6:19am
We are now stalling and trading above that strong resistance level, now support, 1.5075. This is also the 50% level of the last swing. Bullish possibilities here...
Attached Image (click to enlarge)
Click to Enlarge Name: trade.jpg Size: 460 KB
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  • #1,766
  • Jul 13, 2010 6:29am Jul 13, 2010 6:29am
Hi, possible entry on breach at 5085?

maybe not, I'll wait!
  • #1,767
  • Jul 13, 2010 6:33am Jul 13, 2010 6:33am
Quoting robster
Hi, possible entry on breach at 5085?

maybe not, I'll wait!
GM robster, had it at 1.5075 for 1.5200, 1.5220. Nothing wrong with waiting. Trade what you are comfy with.
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  • #1,768
  • Jul 13, 2010 7:04am Jul 13, 2010 7:04am
Quoting a2xm
Aswilled, what you meant by the weekly support is the 19.1 level right? I saw on your 4H chart, the 19.1 level is at 1.50902 and on my chart is 1.5089. So, where did you get that 1.5006? Thanks..
It was on my fib. I might have miscalculated. Was pretty tired when I did the analysis. When I get back from church I will check it again.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,769
  • Jul 14, 2010 3:38am Jul 14, 2010 3:38am
Quoting simoneg
GM robster, had it at 1.5075 for 1.5200, 1.5220. Nothing wrong with waiting. Trade what you are comfy with.
WHOA..!! Congrats Simone.. it even reached 1.5275 just now.. you are the real master
  • #1,770
  • Jul 14, 2010 4:06am Jul 14, 2010 4:06am
Quoting simoneg
GM robster, had it at 1.5075 for 1.5200, 1.5220. Nothing wrong with waiting. Trade what you are comfy with.

I should have entered this, oh well next time!
  • #1,771
  • Jul 14, 2010 5:25am Jul 14, 2010 5:25am
Quoting a2xm
WHOA..!! Congrats Simone.. it even reached 1.5275 just now.. you are the real master
Thanks a2xm! We all continue to learn what the market teaches!
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  • #1,772
  • Edited 7:01am Jul 14, 2010 5:55am | Edited 7:01am
Attachment Good Morning All,

The GU Continues to be very bullish but we may have reached a "pause and take a breath point" right here at the Yearly 50% level. We may see the pair selling from here today to retest the Monthly high at 1.5130 to allow for continued buying. My view continues to be bullish as we have broken the last month's high are now pushing towards monthly bull targets at 1.5400 to 1.5560. Today's Bull Targets are pointing towards the Monthly Bull Target #1.
Attached Image (click to enlarge)
Click to Enlarge Name: GUBig2.jpg Size: 486 KB
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  • #1,773
  • Edited 6:23am Jul 14, 2010 6:06am | Edited 6:23am
Currently we are trading below the Intraday resistance and Yearly 50% Level and awaiting entries around the breach level at 1.5238. Our Intraday bear targets now also exactly align with the Monthly high. Profit taking for shorts, should therefore be looked at in this vicinity in keeping with the above picture. 1.5238 Breach Level is very Key.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GUZoom.jpg Size: 384 KB
Click to Enlarge Name: GUZoom2.jpg Size: 378 KB
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  • #1,774
  • Jul 14, 2010 6:21am Jul 14, 2010 6:21am
Quoting robster
I should have entered this, oh well next time!
We both was for the bulls. But know that what goes up, must come down.
A. Finesse Williams Making Millions One Pip At A Time!
  • #1,775
  • Jul 14, 2010 6:37am Jul 14, 2010 6:37am
Quoting aswilled
We both was for the bulls. But know that what goes up, must come down.
Hi family....

I already saw baby breach at 5260 ( 5289-5234 ) . and already jump in for small lot ... hope the baby will grow ....
  • #1,776
  • Jul 14, 2010 6:37am Jul 14, 2010 6:37am
For today target:My fib hight is 15233 on July 13 at the 23 hour
am I wrong . Which hour did you use.
  • #1,777
  • Jul 14, 2010 6:45am Jul 14, 2010 6:45am
Quoting iqyusan
Hi family....

I already saw baby breach at 5260 ( 5289-5234 ) . and already jump in for small lot ... hope the baby will grow ....
Good Stuff iqyusan!
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  • #1,778
  • Jul 14, 2010 6:47am Jul 14, 2010 6:47am
Quoting Jean36
For today target:My fib hight is 15233 on July 13 at the 23 hour
am I wrong . Which hour did you use.
Hi Jean, I am not sure whether you are asking what is my intraday high or daily fib high. Please clarify for me thanks!
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  • #1,779
  • Jul 14, 2010 6:55am Jul 14, 2010 6:55am
The daily high
  • #1,780
  • Jul 14, 2010 6:56am Jul 14, 2010 6:56am
Quoting Jean36
The daily high
make sure we are in est time jean.... nice to meet you
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