arco
many thanks.
Great, I was looking for a confirmation to go short at this point, but the apparent Gartley on the 4hr was a concern. I'll continune examining forum comments with thanks.
Regards
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arco
many thanks.
Great, I was looking for a confirmation to go short at this point, but the apparent Gartley on the 4hr was a concern. I'll continune examining forum comments with thanks.
Regards
Concur with Arco, its a nice formation on the daily, see my earlier chart, with minimum target of circa 115.75 (61.8% fib)
If broken then the other fibs come into play. 1.618% would be nice!
for today, sell 118.40 if seen, IMO
Xerof
I've taken a short position 11783.
s/l at the double top in the 4hr chart. fingers crossed.
Hi,
Is that a fib retracement level you selected of 118.40 Xerof?
flat overnight at 116.90 (216 pips)
Looking to short again
Cheers
Slam
Sulman, sorry for belated reply - didn't see your second post - yes it was a Fib R1 level if I remember correctly, but didn't quite make it that day
Nice work Slam, are you using pivots and Fib S/R? 11690 was S3. A nice example of using this technique shown below, with both ends seen today
http://img399.imageshack.us/img399/6...ypivots1ii.gif
Hi Xerof
Using fib, along with a few other thoughts
circa 116.7 was visited and held twice over the past few days, so I was looking for a break of this to keep the short. When it failed I squared.
Have since gone short again on 118 with a tight stop
See how we go this time:)
Cheers
Slam
No problem Xerof, I'm not sure of the fib Resistance levels you have specified in your chart - are they extensions measured form the pivot point? Can you specify the fib values used and also the formula used to calculated the pivot?
TIA.
Sulman,
They are daily pivot/res/sup levels calced using standard fibo ratios. I use a demo platform from www.strategybuilderfx.com, which has all the bells and whistles available if you look hard enough through all the threads at the community forums. A lot of programming geeks have written 'indicators' to automate all of this stuff, but it'll mean many hours of sifting to find the best stuff that might suit your trading style.
If you just want to get daily pivots, fib levels, standard pivot levels and camarilla levels (which I believe are very powerful indeed for day trading countertrends) then just go to http://www.livecharts.co.uk/Members/...ency_data.php] where they are all updated for a good range of the main currency pairs each day at 00.00GMT or thereabouts.
Xerof
Reversed at 117.61, now long
Looking ok atm
Cheers
Slam