To answer that, I don't know, I didn't write the program. I know he does have one out that counts to 5 but I don't need that as I only use this to easily spot the highs and lows. The numbers are not set in stone and they do move.

Cable Update (GBPUSD)

1.6180 (wouldn't that be considered a reversal?

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I believe that is the one tht you are looking for. It is a form of the wave. It is a program that TRO posted on this sie a long time ago. I use it smiply to see the Highs and lows to use with my MA's and Fib lines.

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Good trade.

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Dr. D, A thing of beauty. Practically every EMA is at a Fibonacci line.

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Dr. D, You may get that short but you will have to hold it until probably at least 1.6450 or 1.6475. The 15M chart breached above the 100 fib line and is moving up toward the 138.2 and 161.8 fib lines. I have long looking to get out at those levels ...

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I will second that motion, We breached the high from yesterday's candle. That spot is right around the 100 fib line on the 1H chart and we have not hit the targets 161.8 yet for the daily. I am not saying that I would be shorting to that point ...

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It may, but I definately do not think it will do it this month, or even next month. It is possible but pure fibonacci theory says it is unlikely. That would be going well past the 423 fib which is unusual. I do beleive that we will get there as I ...

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That may be good move. I am not by my trading computers so I have no charts. Good news is my three long trades from Friday are history now. I set 125 pip tp's on each one.

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Stronger compared to what? Each other or the USD?

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Malcomb, If I was by my trading computers I would post some charts for you but look at the monthly chart (sideways). However current low (December) was higher than that of the previous low (that back in October I think). The highs were higher too so ...

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I assume by this post you finally dumped your shorts and went long?

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Martin, One of the problems I see is the money management you have there. What I mean there is that you are using 75% of your margin. That is the reason you are blowing out. In addition, you have to trade the tf for the size of your account. From ...

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LOL, agreed. can you write me a perscription for that please Dr. C.

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Actually Australia is a good diversification. In addition to a great swap received becuase of their interest it has been in a strong uptrend for a long while (mainly also because of their interest).

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Javapips, First off good job on not blowing out the account. However, not meaning to degrade you any, why do you keep such a large risk to return ratio. I am assuming that you were short. If you rode this up to the top, to get out at +2 pips was it ...

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D.T, I have seen and read that book before, it has some real good content in it (and so true). We are truely our own worst enemies.

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Did everyone get quiet or did I lose internet?

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100 fib 1.62405 138.2 fib 1.63965 161.8 fib 1.64925

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Dr. D, It is definately time to be careful but, as most can see (I know you can't view my charts to well and I haven't had time to figure out what you told me to do), we are just under the 38.2 monthly and quarterly fibs, and above the 100 fib on ...

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