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Thread: Fibonacci Trading

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#108 (permalink)

02-19-2008, 07:16 PM

Gregory McLeod Gregory McLeod is offline

DailyFX Power Course Instructor

Join Date: Sep 2007

Posts: 1,135

Gregory McLeod is an unknown quantity at this point

More Mud for the Water

Quote:

Originally Posted by Blaiserboy

I am attaching a couple charts.....

On the first one is Macd divergence...... Price has made a lower high which may well indicate that a decline has begun..

It may take until June or even August for the trend to be determined.

This is not a clear cut scenario.. for sure unclear......

These are not really Fib charts, they just add an additional perspective to further muddy the waters...

Here is a Daily 10 year chart of the EUR/JPY. Starting from the October 2000 low of 89.28 to 169.41 reveals completely different Fibonacci levels.

The higher high of the MACD line is bullish. But again, time will reveal which way this pair ends up.

Thanks for the posts of your charts. They are always a treat!

Greg

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