EURUSD

The basic has start again, when most people say long, short is the best option...

Hello
Who have Fibonacci for MT4
Can share to me?

50 posts, still wet behind the ears, bro anyone who says is up and goes up "great" anyone who says down is go down "great" anyone who who trades what anyone else say is an "idiot", and will not survive forex.

Trade your "own" plan bro, do your own home work, pa does not obey any trader, great or small.

There were defendable levels for scalpers, anyone with a good mm / rr plan would have made good pips, buyers possible more, will be the same when this girl go down, wise trader make pips no matter what the market do, I glad you still have account, if this little pimple would have wiped your account, you need seriously reassess your trade plan,

Trade safe

Nice one.

Only thing is, I placed the SL @ 100 pips. Still happy though

Hi Killer

It wasn't the hit I took that annoyed me, it was the fact that since I've been trading (2+ years), I 've never left a position open over the weekend.

The one weekend that I did leave a position open I got hammered by Moody's downgrade which was completely out of my control and I couldn't do a thing about it.

Since then, I just make sure I'm flat on Friday's and the world can do what it wants, start WW3, close the straits of Hamuz, downgrade as many countries, individual stocks as it likes and I'm comfortable with that.

cheers

You suppose to have it in your MT4. All of them have it.

To access it if it is not in your toolbar go to: INSERT in the MENU bar, then look for fibonacci.

I hope this helps.

hi investors
hows yours emotion now? do you think that we finally would go down?

I don't want to be a dickhead but the daily clearly shows an inverted head and shoulder formation :-)
Count to that the double if not tripple bottom on the weekly.

I think it's so risky to enter a Buy pos now , as i see about 170pip up , may be start of another soaring and it adopts with the fund. analysis too. maybe better to put a sell limit on ~170pip higher than current price with a minor sl (ex. 60~70p)

+1

No double bottom here.
All there is, is a little bit of weekly support, nothing special.

Hello
I see a sell at13486 area

Hi bigslice,

I also like using fibo but I'm sure I'm not pro in using it.Please guide me the way u use it.Sharing is caring

Thanks Kiwitrada, as I'm new in this thing I try to figure how successfull traders like kibescorp do it.So far I realised that you need to figure which currency pair is on balance level on weekly and daily, then you should watch out the new direction ! Am I right ?

Very clear like this

(i make some mods there sorry KiwiTrada )

greetings from poland

yes it's very clear that your buy is on resistant , short time G20 can change direction , Monday London or USA might write climax for this bull, i am expecting powerful bear @ 3550 if it manage to broke 3500 , in my book 3612/20 max for this bull

Just tell me whatever you are doing so I can do the opposite..

Monthly Chart - BULLISH

1) We have a primary uptrend from 01.02.2002 wich was recently confirmed at 01.01.2012 (3rd trendline touch and reverse).

2) We also have a hammer candle in a good spot, at the bottom of the range from 1.4607 - 1.2662 and it was confirmed by a higher monthly close,
this means buy.

3) The current correction (1.2635 - 1.3486) is a intermediary trend (30+ days) and is impulsive for the 2002 primary uptrend and corrective for the latest primary downtrend (1.6038 - 1.4548) trend (4+ years), however considering the current ranging environment, we see more of a sideways movement than a trending one on lower TFs.We can see on the weekly chart that the price is nearing the middle of the range as part of a retracement (currently 50.0 Fib of 1.4246 - 1.2698). The corrected wave is also against the 2002 uptrend and in the direction of the latest primary downtrend.So a prefered target for monthly chart would be the 1.3753 resistance, wich is also before the 23.6 Fibo of 1.4246 - 1.2698. Entry points can be established on lower timeframes.
The 38.2 Fibo Arc also seems to provide good support.

Weekly Chart - BULLISH

We can go long till 1.3790-1.3800. Thats before 23.6 Fibo and before the 4+ yr downtrend will be reached. A good entry point would be made available if on the lower TFs we get a pullback lower of the current up movement (for better R:R), if not we can use the 1.3351 SL and 1.3505 entry point. MACD is also going up, and price is looking to reach any of the MAs on the chart.Another argument to go LONG is to look on the DAILY TF, we have a confirmed Inverted H&S formation with potential to reach Fibo 38.2 or higher.If the H&S will retest the neckline (around 1.3380 - 1.3400) and get rejected there we get a better place to long this.I think there is a good probability of price to re-test the neckline on DAILY maybe because its nearing that descending trendline.Or it can simply break it.

Daily Chart - BULLISH

Price has broken 1.3375 resistance and consolidated above it (1.3462).
Daily H & S is confirmed.
Regarding the retracement, there is still a long way to go up.
MACD up.
Good target is 1.3700, while a more conservative one (better chances of being reached) is 1.364x/5, sitting just above 38.2 Fibo.

H4 Chart - NEUTRAL

We have a uptrend channel but price is nearing the upper slope and is showing signs of weakness/pullback with the RSI being at 77 and a spinning top / doji candle wich needs further confirmation.Maybe a correction of wave 1.2974 - 1.3486 is starting, remains to be seen.
In that case , after we get signs that the bears are in power we go against the trend, shorting (low-volume recommended) at 1.3445 SL 1.3502 TP 1.3364, some way above the 1.3327 pivot .
Remember, we go against the general trend if we short so we choose conservative / small targets and later get in LONG in better places.
In case the price doesnt reverse and consolidates further above 1.3450, we will go LONG using the signals on the higher TFs (entry 1.3505) but with TP of 1.3590 and SL 1.3445.I chose that TP because I have a H4 resistance at 1.3600.

H1 Chart - NEUTRAL

It may be a long or it may be a short.If its short (considering a correction), we use the numbers on the chart, if not we wait for higher TF signals (long at 1.3505).

I got burned shorting EUR/USD till i decided to trade with the trend, then I was ok.Remember, E/U is a Bullish Market atm, fundamentals dont matter that much, everything is in price anyway, concentrate on higher TFs for safer trading, use low volume to let the trades run properly if you must, wait for pullbacks to go long again and dont look for opportunities to short if you are more than a intraday trader.Good Luck.