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Thread: Fibonacci Trading

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#432 (permalink)

09-12-2008, 07:46 AM

Blaiserboy Blaiserboy is offline

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Join Date: May 2005

Posts: 447

Quote:

Originally Posted by brad_1199

GBPCHF has formed a beautiful bullish break away gap on the 4 hour chart after the second test of a multi-year support level... The break away gap is identifiable because price was unable to penetrate into the gap area and has now broken out to a new high... ( A Dead Give Away ) .. I'm looking for a rise in price now .. potentailly all the way back to 2.1800 ish to complete a large ABC... Similar to the pattern we have seen play out in USDCHF over the past while.. Which has been basically a vertical thrust...

Here is another indicator of the situation...

BTW Brad, I greatly appreciate your posts..... they have great educational value. you work hard at charting....

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