Futures: _CL (Crude Light), short term analysis Crude Light is expected to go even lower, to a fresh low of 71.71, which represents 121.7 Fibonacci extension level of the downside movement 94.87-75.84 for two solid reasons: 1. The bias is down The price is situated under the pivot level of 82.84 2. The confirmation was carried out When the price closed under the confirmation rectangle (under the 76.40 level). {image}
Forex: GBP/CAD, short term outlook Just recently, this currency pair has broken the 1.7851 pivot level and has entered in the downside bias. From now on, we need only a confirmation of this firm downside movement. A closed candle bellow the 1.7754 level, which represents the lower limit value of the blue confirmation rectangle will be an open window for shorts, with targets towards the low of 1.75335, as the black arrow from the photo suggests. The drawing it's only informative, don't take it like something accurate. {image}
Indexes: _EUR50 (Eurostocks 50), intra-day outlook The price is situated between the two pivot levels of 3239.4 and 3219.4, so it's in neutral bias. No action here, regarding the trade. Will follow how we'll act in case of bearish and bullish perspective, if case. Upside bias If the price enters the upside bias, closing the 3239.4 level. does not need any more confirmation for targeting the 3264.5 which represents the 127.2 Fibonacci extension of the 3180.5-3246.5 move, scenario shown by the red arrow. Downside bias If the price goes under the 3219.4...
Forex: GBP/USD, short term analysis Even if the pound fell and made a new temporary low - 1.55842, this currency pair has not confirmed it's presence in the down bias yet. The price has not invalidated the lower limit of the confirmation range (blue rectangle) because hasn't closed below the 1.5608 level. A close below this level would confirm a sell trade, targeting the 1.53858 level, which is the 127.7 Fibonacci level of the entire downside move from 1.63488 - 1.55917. {image}
Commodities: XAG/USD (silver), short term analysis The silver has broken violently the confirmation range (blue rectangle), closing below the 15.27 level. As I've said in the last intervention, in the post #126, a close below that level would reinforces the idea that the falling silver's price it's not over yet, at least not in the short term. So, the target it would be the 14.302 level, which is the 127.2 Fibonacci extension of the 17.811 - 15.052 move, as the black arrow...
Forex: AUD/USD, short term analysis Aussie has just confirmed that further downside movements are likely to happen. With the price situated under the 0.8716, in downside bias, and the lower limit of the confirmation rectangle invalidated (blue) - by closing under the 0.8551 level, I have opened a short position targeting as low as 0.84153, which represents the 121.7 Fibonacci level of the down movement of 0.91111 - 0.85394, as the black arrow informative suggests. {image}
Hello I like the idea and i believe it s profitable and logical good luck All have a nice day
{quote} Thank you for your honest oppinion regarding this system. For now, I am concentrating on keeping it profitable in the long run, - it's all that matters, actually. Next year, in May, when the accounts will have a full year of trading I will make some few changes, but nothing important. You can vote your favorite currency pairs that you would like to see in the future,on the poll at the beggining of the topic. Also, because the repllies on this topic are yet limited (not sure why) I want to know what kind of trader are you: scalper, intra-day,...
{quote} Hello I am in a stage of system developer i am not in to much trading i am always trying to develop and try new system so i may enter any type of position short medium and long term it depends on my cause of the trade and objective . Although from my experiance i can tell that medium long term trading isbsafe and better scalping with big lots really can misstreat your equity About your method i studied pivot point and there is a rule that price tend to correct to pivote point then move in its trend direction so better always to decide the...
