Dislikedin a process of waiting . I do have sell limit orders from 0.7528 all the way to 0.7650, sl 0.7715 lets see its a swing type of trade so, just wait {image}Ignored
Isn't that FIBO upside down? cheers
- #99,982
- Nov 29, 2016 4:47pm Nov 29, 2016 4:47pm
- Joined Jun 2015 | Status: Trader | 14,961 Posts
{quote} Hi There Isn't that FIBO upside down? cheers
It's the perfect orientation. Look at 161%.
ÂÂ
Most people can't draw a Fibo to save their lives...or draw one for correction then some fantastic extension from previous 2 waves....
Somehow, since i learned Fibos the bad habits proliferated. One sad effect of failed ignorant traders becoming "teachers ".
Â
And thank you lioslim and Jfrancis for sharing.

Â
Beware of robber banks (RB), bad advisors.
- #99,983
- Nov 29, 2016 5:49pm Nov 29, 2016 5:49pm
- | Commercial User | Joined Jan 2015 | 1,352 Posts
{quote} Hi There Isn't that FIBO upside down? cheers
I learnt this from an English trader in Thailand many years ago, this. Fibonacci works both ways, its a sequence. 1 1 3 5 8 13 21 etc...
20 Pips a day keeps centerlink away
- #99,986
- Nov 29, 2016 7:46pm Nov 29, 2016 7:46pm
If you use the fib retracement tool you can invert it and use it for fib extensions which is normal. When you invert it and use it for retracements it makes no sense. Yes its the same levels. But the 38.2% fib is labeled as the 61.8% and so on. Now when you post a chart explaining to sell the 61.8 fib. Which 61.8% fib. The real one or the that was falsely created by placing the retracement tool upside and measuring a retracement 
- #99,987
- Nov 29, 2016 8:09pm Nov 29, 2016 8:09pm
if you use the fib retracement tool you can invert it and use it for fib extensions which is normal. When you invert it and use it for retracements it makes no sense. Yes its the same levels. But the 38.2% fib is labeled as the 61.8% and so on. Now when you post a chart explaining to sell the 61.8 fib. Which 61.8% fib. The real one or the that was falsely created by placing the retracement tool upside and measuring a retracement
- #99,996
- Nov 29, 2016 9:52pm Nov 29, 2016 9:52pm
For those of you that are interested in wave analysis and want to know how to proper analyze charts, watch the video. For those of you crying because you don't like the way I speak please save yourself the time
Inserted Video
