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Thread: Fibonacci Trading

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#93 (permalink)

02-12-2008, 06:20 PM

Gregory McLeod Gregory McLeod is offline

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Join Date: Sep 2007

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Quote:

Originally Posted by tradermoe

on eur/jpy daily i see a symmetrical triangle within a symmetrical triangle. Price is also near the 61.8% fibonacci line and the smaller symmetrical triangle.

added hourly chart to show smaller symmetrical triangle better.

i believe price will go down until it reaches 154.50-154.70 area. rsi on daily is below 50 and on hourly is just bouncing off of 70.
moe

Thanks for your great post. Seems like you and Blaiserboy agree on the down fall of the EURJPY. I am a little more optimistic. We will see how it all settles.

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