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Thread: Fibonacci Trading

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#95 (permalink)

02-13-2008, 06:33 AM

tradermoe

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Join Date: Jan 2008

Posts: 29

tradermoe is an unknown quantity at this point

eur/jpy partial rise

Quote:

Originally Posted by Gregory McLeod

The EUR/JPY looks to be setting up for a run back at he 159.48 level. We penetrated and bounced at the 61.8% Fibonacci retracement level. A kind of "hammer" punctuates the rejection of the bearish decline. Whether people believe that Fibonacci are "self-fulfilling prophesy" or "the natural order of the universe" one has to believe that these levels are more than coincidence or random walk.

partial rise showing on eur/jpy. i think it might break upward soon, just has to break through that 157.00 resistance zone first.

moe

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