And it did! BTW, I just got home and am all excited.

Fibonacci and 50 bucks

One more thing about last night's trade. I used the fib levels from the last weeks high/low points. They are in white on the chart. I entered on the 61.8% level and used the 80% level as my exit.

Fibonacci and 50 bucks

I'm kind of bummed out because this Trade Explorer isn't right and I won't have time to get it fixed for the next week or so. So, we'll do the old fashioned "paper trading" method for now. LAST NIGHT's action...I entered a long position at 1.52877 ...

Fibonacci and 50 bucks

Speaking of price action...let's check out the candles on a 4 hr chart of GBPUSD. Bullish enough for you?

Fibonacci and 50 bucks

So here's the deal. I don't know why but my Trade Explorer is not synched to this thread. The account numbers don't match...wth? Anyway, I set a buy stop at 1.52877 with an exit set at 1.53275. My reasoning? The weekly 50% level was tested and held ...

Fibonacci and 50 bucks

Okay...so I passed out before the party last night and woke up to see what I thought would take place did in fact take place. Weekly support was tested but it took it further and hit the 2 week fib level of 38.2%. Notice the 2 candles for the ...

Fibonacci and 50 bucks

So what? It's a Monday and perhaps the volatility is limited to the 20% level as resistance and it bounces between that and the -34% or it really tries to test the 50% but it should fail. I'm thinking tonight the play is short at 20% and set target ...

Fibonacci and 50 bucks

So what happened? The 50% was tested on our intraday (in black) chart. It was breached and then became resistance. Dream entry would've been at the 38.2% but good entry to short would be at the 20% down to the -34%...but it spiked hard and fast down ...

Fibonacci and 50 bucks

I just got home so let's take a look at what just happened. Using the 1 hr chart with Fibs in slate gray (2 weeks) and white (last weeks high and low) AND the third set of Fibs in black (our intraday) which we trade off. We use the high and low ...

Fibonacci and 50 bucks

I'm sitting here looking at the chart with 2 weeks worth of data on it (slate gray Fibs) and I'm calling it now. The 50% level will probably be tested...1.52442 ish and then a strong rebound. I could be wrong because the GBPUSD is like trying to ...

Fibonacci and 50 bucks

Now I will add the high/low points from last week (in white). Now why is this one special? Because the fib levels of 134% and 155% will be the targets of the big boys this week. Since the candles have opened ABOVE the 50% level for the week, expect ...

Fibonacci and 50 bucks

Well, it's a new week so let's get the chart set up. First fib will be the high and low points for the last 2 weeks (in slate gray, choose your own color preference).

Fibonacci and 50 bucks

Mods, I screwed up. This thread should've been put under the "Trading Journals" section not "Trading Discussion. I apologize. Would you please move it there? Thank you

Fibonacci and 50 bucks

That's enough for now. BTW, the credit of the fibs goes to Mr Fibonacci, bobokus and simoneg. I'll post again Sunday night. Have a good weekend.

Fibonacci and 50 bucks

So the chart with 2 weeks worth of data, not so impressive but still need it. But this one with the previous weeks high/low points? Very good. Looks like a messed that first chart up...gray lines = 2 weeks...white lines = 1 week What are you looking ...

Fibonacci and 50 bucks

I'm gonna give a few examples of what you guys can expect in the coming weeks using a few charts from this weeks trading. The first one is for the 2 weeks high/low points and the second chart is how the price reacted to the Fib levels.

Fibonacci and 50 bucks

BTW, a Trade Explorer has been attached starting with $50 and everything is visible to the public. No games. Also, I promise not to go crazy and change everything in 2 weeks and add a bunch of garbage indicators.

Fibonacci and 50 bucks

tk5, Just another thought... Because I like the simplicity of this method so much, I think I will open a Trade Explorer next week and use this method solely for a month just to see what can be accomplished with it. I'll have to think about the ...

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