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- Bobokus replied Aug 11, 2011
See if this helps explain, Price fails to reach intraday target from the previous day and subsequently retraces back into the intraday levels again, at this point you may be seeing a reversal of direction and can move up your intraday fib to help ...
- Bobokus replied Dec 5, 2008
Good choice, the Euro is tesing support levels from yesterdyas movement now, and if you look at the last swing that met the Intraday Long level resistance from that retracement initially held and price retraces deeper into the Intraday levels, also ...
- Bobokus replied Nov 25, 2008
Its actually a break of some resistance levels from the last Daily chart retracement, the question now is if support will hold and will we see price continue to push higher into the resistance levels from the points provided by the last leg of the ...
- Bobokus replied Nov 23, 2008
The Euro isnt any different than what youve done with the Intraday on GBP, the Intraday is still the high and low point of Friday. The swing fib is alot to try and explaign in 1 post, its buried in the thread here how we use it.
- Bobokus replied Nov 17, 2008
GBP looks right but the Euro should look like this.
- Bobokus replied Nov 16, 2008
I think your gettig confused on the names of the tools. If price is going down the tool you place on that movement is a resistance fib tool it doesnt matter what the name is on the tool its always a resistance tool since its inner levels are above ...
- Bobokus replied Nov 14, 2008
The retracement fib tool is drawn from the daily, on the smaller timeframes it may appear that levels are broken but to the larger timeframe they are only penetrated. In this instance there was a break long through the retracements levels initially ...
- Bobokus replied Nov 14, 2008
[quote=boyeros;2348801] This should be what your looking at with the Euro at the moment, yesterday created a supportive wave but has met resistance in the Retracement levels. If support hold and we get a bounce from the Supportive wave on the 4 hour ...
- Bobokus replied Nov 14, 2008
Whip is one of the problems we face when trading a 1 hour chart since it can be so choppy, what I do when I start seeing this is to zoom out the same chart to a 4 hour view, it will remove some of the chop and help keep your perspective on ...
- Bobokus replied Nov 10, 2008
Euro — With the Euro now that weve had some movement, were looking for it to make a low so we can establish the resistance points, to keep the selling pressure on. If the selling pressure is to continue we can expect it to occur at these ...
- Bobokus replied Nov 10, 2008
4 hour charts — For those looking at 4 hour charts the following is an example of using the 4 hour and a quick analysis of what your looking at or looking for on it. Daily levels will be the same you just use the 4 hour waveforms the same as ...
- Bobokus replied Nov 5, 2008
Direction is still unclear, alot still depends on US markets. Support has held down to 98.45 a break there and we should see if test the support levels from the retracement again.
- Bobokus replied Nov 5, 2008
Sure, sorry I thought I had posted both the Euro and GBP. Very siilar picture though.
- Bobokus replied Nov 3, 2008
LOL, I must have saved it before I moved it. It should look like this. The second chart shows the last leg down on the euro
- Bobokus replied Nov 3, 2008
Sure, not much has changed over the past few trading days.
- Bobokus replied Oct 30, 2008
Support and Resistance / Fibs — Here lately Ive seen some confusion over the support and resistance fib tools and their use, the truth is a fib tool is used as either a support tool or a resistance tool. When you place a fib across price ...
- Bobokus replied Oct 30, 2008
Its also testing the pivot of the Retracement as well, it may get caught in between these levels now and range. here is my 4 hour view...watching this from the 1 hour though, looking to play the bounce here for a few if price action will be ...
- Bobokus replied Oct 28, 2008
You were entering at the correct place from what I can see, In my chart it should have had the Swing instead of the Intraday because we were assuming the rest of the day hadnt completed, just didnt realise that until you pointed it out. The ...
- Bobokus replied Oct 28, 2008
You played it our right, I think I would have taken the same trade, the stop loss would have been a few hours later once it began to trade higher, later in the day it gives a second entry short that would have more than made up for the loss, most ...
- Bobokus replied Oct 26, 2008
If your talking about the last template I posted, you can measure the last leg of the downtrend like the chart below. In the previous post I just have the last 2 step downs measured. The support and resistance fib are no different than using the ...