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11-06-2008, 12:57 PM
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Quote:
Originally Posted by Gregory McLeod
I resent it.
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Yea i don't know why it isn't working...I didn't get the message |
11-06-2008, 04:31 PM
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Quote:
Originally Posted by Gregory McLeod
I don't use those anymore. I use Proreal Time or FX Trek Intellicharts. Charting packages are like pens an pencils to a writer, they can make your writing look better but its the skill and knowledge behind them that makes them useful for good writing. I can use the free package with netdania.com or an expensive Esignal or Tradestation but they will not help my trading if my approach is not sound. As instructors, we are given access to products to promote. I use Proreal Time because I can move through many charts and time frames quickly.
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sorry, i didnt ask right:
as far as i know Jchart is a technique, where price movements are viewed like any vibrations and should obey the laws of nature.. mainly thermodynamics.
my question was if you have expirience with that?
concerning the euraud i use this low, as it seems to have an effect on price:
Last edited by qsx; 11-06-2008 at 04:41 PM..
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11-12-2008, 07:41 AM
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Quote:
Originally Posted by qsx
sorry, i didnt ask right:
as far as i know Jchart is a technique, where price movements are viewed like any vibrations and should obey the laws of nature.. mainly thermodynamics.
my question was if you have expirience with that?
concerning the euraud i use this low, as it seems to have an effect on price:
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I am only familiar with J-chart features as a standard charting package. I am unfamiliar with the methodology or techniques behind J-charts. It does seem intriguing.
That is a great chart showing the EURAUD. It looks poised to move higher as long as the equity markets continue to decay. Thanks for your post.
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Gregory McLeod moderates the Trend of the Day thread as well as the Short Term Strategies Using Market Depth.
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11-21-2008, 03:48 AM
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11-23-2008, 06:41 PM
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Quote:
Originally Posted by dffx
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Yes and No?
Being 100 percent knowledgeable in any one form would most likely be enough, but since that's not likely in any case I would recommend just using it as one of several strategies |
11-24-2008, 09:32 AM
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Quote:
Originally Posted by dffx
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I do know of some traders who only trade using support and resistance numbers. If a support number is hit they are buying and they take profits when a resistance number is hit. However, most of these are pit traders without the luxury of monitors, computers and indicators. Fibonacci is a special case of support and resistance. Ideally, we use indicators in addition to Fibonacci to build a case for a particular trade.
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Gregory McLeod moderates the Trend of the Day thread as well as the Short Term Strategies Using Market Depth.
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11-24-2008, 10:35 PM
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USDCHF Setting Up for Bounce
As many desire to call a top for the dollar as a result of dollar pairs taking a tumble yesterday, the Daily trend remains up. In fact, the USDCHF has a well defined trend channel (the yellow lines) where we can target a re-entry to Long this pair. Support comes in the 1.1500-1.1700 area which is the lower channel support line. We are some 300-500 pips above this area so patience is a must as prices retrace. Daily oscillators are overbought and turning down signaling weaker prices are to follow before this pair launches to new highs.
Look for price to bounce from this Fibonacci zone targeting June '07 high of 1.2467
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Gregory McLeod moderates the Trend of the Day thread as well as the Short Term Strategies Using Market Depth.
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11-25-2008, 01:00 PM
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The Daily Trend for the Day: GBP/AUD
GBPAUD appears to have completed its 3 wave correction to the 61.8% Fibonacci support area after reaching new highs back in October. MACD is below the zero line but heading upward and Stochastics is point up as well. Look for the 2.6000 to be reached in the coming days. A break below the 2.1550 area would invalidate this bullish scenario.
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11-26-2008, 08:59 PM
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Look for GBPUSD to move violently in thin Thanksgiving trading. Look to sell any price rejection from Fibonacci resistance in the 1.5886-1.6245 areas targeting 1.4000. Be careful and always trade with stops and limits. Happy Thanksgiving.
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Gregory McLeod moderates the Trend of the Day thread as well as the Short Term Strategies Using Market Depth.
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11-29-2008, 12:52 AM
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Euro/GBP
Hi all
I think there is a good buying opportunity in Euro/GBP. The previous strong resistance of .8221 is testing now. if the 50% Fib level of recent rally .8175 ( .7692 to .8660)holds, new high can be expected in the coming days. An eventual upside breakout through 0.8575 and on above 0.8669 ,0.8839, 0.9125 and on to parity. Suggestions are welcomes
Regards
Jewel
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11-29-2008, 01:05 AM
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JEWEL EURGBP
[quote=Jewel;216581]Hi all
I think there is a good buying opportunity in Euro/GBP. The previous strong resistance of .8221 is testing now. if the 50% Fib level of recent rally .8175 ( .7692 to .8660)holds, new high can be expected in the coming days. An eventual upside breakout through 0.8575 and on above 0.8669 ,0.8839, 0.9125 and on to parity. Suggestions are welcomes
Regards
Jewel
Looks Good To Me Jewel...  I would just wait for a little bit of support to become evident before entering.. |
11-30-2008, 05:37 PM
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hi jewel - the 61.8 fibo looks even better - in regards to how long you could hold it- I would just be scared that a rally off .8221 would be short lived - and im saying that purely based on pattern shape.
btw- nice chart!
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11-30-2008, 07:26 PM
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Quote:
Originally Posted by Jewel
Hi all
I think there is a good buying opportunity in Euro/GBP. The previous strong resistance of .8221 is testing now. if the 50% Fib level of recent rally .8175 ( .7692 to .8660)holds, new high can be expected in the coming days. An eventual upside breakout through 0.8575 and on above 0.8669 ,0.8839, 0.9125 and on to parity. Suggestions are welcomes
Regards
Jewel
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"X" marks the spot at the 50% Fibo. Good analysis, Jewel.
You looked for an opportunity to buy a very strong uptrend. This puts the odds in our favor when we trade in the direction of the strongest trends.
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Gregory McLeod moderates the Trend of the Day thread as well as the Short Term Strategies Using Market Depth.
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
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12-01-2008, 04:28 PM
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USDJPY Breaks Last Support Level ;)
The monthly chart of USDJPY has now closed the month below the last long term support level at 94.31 ... Next support is at 79.80.... December should be one hell of a ride to the down side. I think we'll see price at 79.80 before the month ends... With no support in site, it should be a clear drop to that level....
Last edited by brad_1199; 04-08-2009 at 11:11 PM..
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12-02-2008, 05:11 AM
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Hi all,
Asked my question in the wrong thread so re-posting it here. In these times of total economic uncertainties, are fibonacci chartings still relevant ? The market is moving so fast in so many directions than it seems it can't be predicted by things like fibonacci rated.
Yet you guys are obviously comfortable with them. Or are you getting more cautious ?
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