"If The Fool persists in his Folly he will become wise." - William Blake
DislikedTarget 1 off 22 pips. First target was the little double top that Frankfurt gave us.
Get this bugger up a little more and I will move the stops to BE and hit the hay
Why do you use fib. 113, 121.4, 127 and 138.2. There is almost no difference between those lines?
Disliked113 and 127 are fib lines that often mark a dbl bottom or top, often leads into a Head and Shoulder pattern.
121.4 and 138.2 are targets after a 61.8 retracement
Check out screen shots
DislikedI think September will be interesting. The rule of thumb is that NFP sets the tone for the month on the first Friday. Well, the market liked Friday's NFP - you might say we are poised for a September rally. But I'm not so sure. The NFP number was green, but the unemployment rate sank further. Things still suck. But Wall Street may not mind, and historically stocks are a leading indicator. You're right - elections in November are going to have an effect. You'd have to expect that Dems will generally get the boot, maybe even lose the House. Wall Street...Ignored
DislikedI still trade futures. .... Could be the first time in my futures carrer where I take a spread to maximum profit.
DislikedNice! Hope you're having a good weekend. You can already smell the rainy season coming on. I am working up in Pt. Townsend from October-Christmas. If the sun comes out I will drive up there to scout a cheap short term rental. Otherwise catching up on all that lost sleep - yikes...Ignored
DislikedShort term rental with FAST internet for your trigger finger.Ignored
DislikedThis PDF has some.
This is a pretty good condensed explanation of Fibonacci and how to use it. Along with some targets. The targets I use are slightly different.
If I set a target with a position with fibs I always shave 5-10 pips off it so mine gets hit before the actual point is hit. For that matter I always shave my targets. It is frustrating to have a target set on a pivot high or a calculated pivot to have price come withen two pips and not take your order. So I always shave the targets down. All the trading world sees the pivot high looking...Ignored
DislikedEU long. My concern with this position is the pivot high we see on the 4h chart.(See chart above). I believe though that London will drive this thing.
Price retraced to 50% fib level from Tokyo Low. And bounced off the 100ma.
Time will tell.Ignored