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  • #919,961
  • Aug 27, 2014 9:03pm Aug 27, 2014 9:03pm
Quoting ffleo
{quote} it was closed to pip yesterday. Right now it try to move over the gap
nope didnt close will get chart
If you are new to Forex? Say Goodbye to your account!!
  • #919,962
  • Aug 27, 2014 9:04pm Aug 27, 2014 9:04pm
made a mistake, should have closed it yesterday when it was running in its 3150's, now it's 3215...i am still holding short, GER data coming out this afternoon and US GDP tonite, make or break...
  • #919,963
  • Aug 27, 2014 9:06pm Aug 27, 2014 9:06pm
Quoting ffleo
{quote} will it drop from fibs 38.2 to 23.6%? {image}
if not, then next fib is 50%. Euro never had meaningful retrace. Will euro go to 50% fib before a decent retrace? Retrace at 50% fib mark is going to be huge if that is the only one to start a retrace.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #919,964
  • Aug 27, 2014 9:06pm Aug 27, 2014 9:06pm
to put a small short or not put a small short at 1.32195 hmmmm....
  • #919,965
  • Aug 27, 2014 9:07pm Aug 27, 2014 9:07pm
Quoting KiwiTrada
{quote} nope didnt close will get chart
fridays close 91365 yesterday low 91375 2nd broker 91381 91380 so we both right
If you are new to Forex? Say Goodbye to your account!!
  • #919,966
  • Aug 27, 2014 9:14pm Aug 27, 2014 9:14pm
Quoting ffleo
{quote} if not, then next fib is 50%. Euro never had meaningful retrace. Will euro go to 50% fib before a decent retrace? Retrace at 50% fib mark is going to be huge if that is the only one to start a retrace.
Euro is famous for its trends. Its a trending pair and therefore retraces can either be too small or can come after a prolonged move.
The Thief of Wall Street
  • #919,967
  • Aug 27, 2014 9:17pm Aug 27, 2014 9:17pm
Quoting ffleo
{quote} will it drop from fibs 38.2 to 23.6%? {image}

that is weekly a reasonably big timeframe, sorry, unsure of your start point why not the peak to the left, I like fibs but getting the correct starting point is critical, personally if not careful can cover chart with fibs, so I do like the fact you only have one I believe a 100% retrace can remove that specific fib and look for the next in opposite direction, (dont like extensions) just personal preference
If you are new to Forex? Say Goodbye to your account!!
  • #919,968
  • Aug 27, 2014 9:18pm Aug 27, 2014 9:18pm
Quoting Chicky
{quote} Euro is famous for its trends. Its a trending pair and therefore retraces can either be too small or can come after a prolonged move.
nope. Euro always retraces. Aussie and Cable on the other hand are trending pairs.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #919,969
  • Aug 27, 2014 9:20pm Aug 27, 2014 9:20pm
looking on the trend, it's still on the downside, just probably hold it till next week.
  • #919,970
  • Aug 27, 2014 9:22pm Aug 27, 2014 9:22pm
Quoting KiwiTrada
{quote} that is weekly a reasonably big timeframe, sorry, unsure of your start point why not the peak to the left, I like fibs but getting the correct starting point is critical, personally if not careful can cover chart with fibs, so I do like the fact you only have one I believe a 100% retrace can remove that specific fib and look for the next in opposite direction, (dont like extensions) just personal preference
On a time frame, I always look at most recent major swing suitable for that time frame. the most recent swing is the most important. Past swing peaks only serve as references with less importance.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #919,971
  • Aug 27, 2014 9:24pm Aug 27, 2014 9:24pm
Quoting ffleo
{quote} if not, then next fib is 50%. Euro never had meaningful retrace. Will euro go to 50% fib before a decent retrace? Retrace at 50% fib mark is going to be huge if that is the only one to start a retrace.
50% fib for the most recent monthly up trend.

Attached Image (click to enlarge)
Click to Enlarge Name: euro_monthly_386.png Size: 298 KB
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #919,972
  • Aug 27, 2014 9:24pm Aug 27, 2014 9:24pm
http://www.cnbc.com/id/101952748 for your guide
  • #919,973
  • Aug 27, 2014 9:42pm Aug 27, 2014 9:42pm
Quoting KiwiTrada
{quote} that is weekly a reasonably big timeframe, sorry, unsure of your start point why not the peak to the left, I like fibs but getting the correct starting point is critical, personally if not careful can cover chart with fibs, so I do like the fact you only have one I believe a 100% retrace can remove that specific fib and look for the next in opposite direction, (dont like extensions) just personal preference
by the way, in most cases, retrace like to reverse at 38.2 and 61.8% fibs. that is retrace to 38.2 and then reverse. Some times after the 38.2 reverse it decide to go back to test the 61.8 fib and then reverse. If it retrace more than 78.6 and 88.6, then chances are it will go beyond 100% to extend to 127.2% or 161.8, and then reverse.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #919,974
  • Aug 27, 2014 9:46pm Aug 27, 2014 9:46pm
I am looking at medium term long, perhaps a pullback to BO point before further upside.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd #50.png Size: 49 KB
As the lights go by so too do the shadows move
  • #919,975
  • Aug 27, 2014 9:49pm Aug 27, 2014 9:49pm
Quoting ffleo
{quote} by the way, in most cases, retrace like to reverse at 38.2 and 61.8% fibs. that is retrace to 38.2 and then reverse. Some times after the 38.2 reverse it decide to go back to test the 61.8 fib and then reverse. If it retrace more than 78.6 and 88.6, then chances are it will go beyond 100% to extend to 127.2% or 161.8, and then reverse.
In a trend, it mostly will go 1.272 or 1.618. Against a trend, it will mostly retrace 38.2 or 61.8 and then reverse.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #919,976
  • Aug 27, 2014 10:04pm Aug 27, 2014 10:04pm
EU broke out of its range. I'm thinking it will range for a few hours til London open then make another leg up.

Attached Image (click to enlarge)
Click to Enlarge Name: eurange1hr82714.PNG Size: 36 KB
  • #919,977
  • Aug 27, 2014 10:13pm Aug 27, 2014 10:13pm
maybe i am just stuborn but i think she still in bearish mode.. and i am looking for sell near 1.3220 .. or maybe below that.. look for another development.. i will post if i'm change my mind.. good luck to you

note : also if she go below at 1.3208 first im sell at that area too..
the true currencies here is patience and react precisely
  • #919,978
  • Aug 27, 2014 10:21pm Aug 27, 2014 10:21pm
Quoting mied
maybe i am just stuborn but i think she still in bearish mode.. and i am looking for sell near 1.3220 .. or maybe below that.. look for another development.. i will post if i'm change my mind.. good luck to you note : also if she go below at 1.3208 first im sell at that area too..
I do not think you are stubborn.....Just common sense..

I am looking short EU, GU and Long AN....

If I can short them higher, the better..
  • #919,979
  • Aug 27, 2014 10:32pm Aug 27, 2014 10:32pm
Euro still needs to retest to the downside again before a major move up. Don't really expect it until next week though. Same goes for the pound.

Next daily dip in the euro and pound... Prepare to hit the bid!
"Don't fear a bubble until it starts to burst."
  • #919,980
  • Aug 27, 2014 10:39pm Aug 27, 2014 10:39pm
Quoting mied
maybe i am just stuborn but i think she still in bearish mode.. and i am looking for sell near 1.3220 .. or maybe below that.. look for another development.. i will post if i'm change my mind.. good luck to you note : also if she go below at 1.3208 first im sell at that area too..
I'ts hella bearish man
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