USD/CAD-I'm in short with a small position. If price retraces above the outer fib I will definately add to the position.
100% Daily Chart Analysis 64 replies
DislikedThe model numbers are not etched in stone. If you look back in time you will see Model 2 was the best model up until lately. If you change the model to 1 and look at the current price candles you will see model 1 actually calls the reversals better. This can change again someday down the road.Ignored
Dislikedi entered a short position on the usd/cad too.
It seems to fit the 3 criteria Vegas listed. If I am wrong, could someone correct me.
1) It moves away from its daily open and made a new high breaking the 2nd fib level if you overlay model 1 and 3. Those models seem a good fit on the canadian recently as some people here have pointed out.
2) It moves away from its new high with speed and momentum.
3) It breaks the 50% retracement level of the range with momentum.
The range for the move up seems to be more than 60 pips too. And as Vegas has pointed out, whenever the market surpasses a 60 pip range, if it retraces more than 50% of the day range, it is of low probability that it will continue to hit another new high.
Is this correct?Ignored
Dislikeddid you read VMB 2?
i could be wrong but thats how i interpreted it
from what i understand from that documentIgnored
DislikedYour observation is correct.
Model 1 has fib lines at 89, 144, and 233.
Model 2 has fib lines at 144, 233, and 377.
We found that right now model 1 is probably the best choice. This has fib 144 for the middle line. Model 2 as fib 288 for the middle fib.I am still using the middle fib line regardless of which model works with this pair.Ignored
DislikedI feel this document will help alot of ppls in seeing reversal better.Ignored
DislikedAll the patterns are candlestick patterns: enguilfin, harami...
They are all about losing steam.
I think more powerfull signals are continuation pattern, but nobody is talking about them.Ignored
DislikedNothing tells me that I should take position on usdCad. Is there something I don't see?Ignored
DislikedGBPUSD in long at 1.7272 .missed my entry by a bit but,price acction from the euro session was text book VWB 60 pip fall with a 2 hr correction throught the 50%.I am all ready at break even for a stop and took on 40 pip unit off the table.Anyone else??Ignored