DailyFX Forum - View Single Post

		DailyFX Forum
Sidebar Wrapper

1,179 Users Online

Thread: Fibonacci Trading

View Single Post

#10 (permalink)

11-14-2007, 03:20 AM

Jamie Saettele Jamie Saettele is offline

Moderator

Join Date: Jan 2007

Posts: 1,230

Jamie Saettele is an unknown quantity at this point

The most important ratio in Fibo analysis is 61.8 and 161.8. Everything else is a derivative of those numbers. When you get a confluence of a 61.8 retrace and a 161.8 extension - probability is high that the level in question will serve as either resistance or support. In this case, EURJPY resistance is estimated at 163.92/164.21.

Attached Images

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.