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Yep know how you feel. I'm headed that way myself. Friday a crazy day.
Yes, 1.0663 would be the bottom trendline and the .786.
Could be 1.0692.
Thanks SG! Trading any today?
What if your last 3 (the one close to the white line) was a 2 though?
6 trillion in fake treasury bonds. Wonder who picks up the tab for that little scheme?
http://uk.finance.yahoo.com/news/italy-police-seize-6-trillion-144623014.html
It's also the daily 5 sma where the bottom the other day was the dail 21 sma, this is 3 fib levels about the 21. 5,8,13,21.
Would seem to me that 1.0720 be a good long.
I think that head and shoulder was right on. I'm sticking to my 1.0820 shorts should be an upside down bat cave by then at the 3.618 extension of that 854.
and gold down $11.10. go figure.
Straight up that sucker. No way I'm joining the crowd tho.
lol that didn't work out. Left with a minus 3 pips.
Good inverse trade coming up at 1.0733.
From Alpari.
Pivot: 1.071
Our preference: Short @ 1.0663 with targets @ 1.063 & 1.059 in extension.
Alternative scenario: Above 1.071 look for further upside with 1.078 & 1.0825 as targets.
Comment: the RSI is below its neutrality area at 50%
I shorted that booger wooger right here some. All sorts of favorite fibs on the 1 min but I think it go up after a retrace.
OK i tagged it again this time for 14. Wave 4 on the 5 min.
This is what I'm looking at. I see top trendline now. Should have stuck to the 1.0714, had it pegged and then looked again and 1.0710 was showing from a different level. Would have been a nice all-in 12 pip scalp.
So I'm looking at where these two extensions create double lines. The top line is the .707 of the .618 extension and also the .618 of the 1.414 extension on the left. Believe I'll leave a short order at 1.0745 and go play a while.
Closed it on that little pullback at BE. Busted that fib so I'll wait.
1.07096 is the closest I could get.
I think good pullback here at 1.0710 and then push to 1.0735.
I think I'm going short at 1.0714.
So I've been playing around with this AU chart this morning because the 3.142 (PI) there at the daily 20sma intrigues me some with the .707 up top. Since the .707 came after the 3.142 I figure the .707 has to be a function of the PI hit. So I search for 3.142 and .707 and get this.
http://answers.yahoo.com/question/index?qid=20080514110610AAFDwZG
So the sine of Pi/4 is .707 and it's the function of the hypotenuse and the opposing side of a triangle. I wonder next how the .786 fits in here so I pull up my ratio sheet and see that the cosine of .786 is .707. Not exactly sure how this all fits in together yet just mainly thinking out loud here but the next time I see a .786 stop at the 3.142 I'm going to think .707. Obvious trade here would indicate triangle but I just don't know for sure so I'm sitting tight unless we retest the low or the upper side of the triangle.
The "fatness" of these 15 minute candles since the top at 1.07745 strikes me as more of a bid withdrawal that actual selling pressure. That may very well lead to a bottom somewhere here close just seems like they are trying to find it.
Don't know for sure, I sure want to go long here at the .707 off of the daily 20. I've been trying my hardest to keep an open mind to all scenarios but the 1 hour TDI still indicates down although the 4 hour and daily look like pop. I've thought for a while that the 1.902 4 hour and especially the 2.236 indicated a double top but not sure if it's right now.
cool thanks!
OK thanks SG. I'm sure some of these fib levels that are non-standard are moving average hits and I would like to know. Been sorta thinking about an indicator that used with ZUP would compare an uncleared fib with the fib moving averages across the different timeframes. Don't think it would be very hard to do since I already can pick out the lines.
guys any of you using a multi time frame moving average? I've been searching for one on mql.com and haven't really found one that I like. Any favs out there? I really don't want to miss one of these moving averages and with Zup I'm almost certain one of these uncleared fib levels (blue not purple) is a moving average of some timeframe.
Oh cool thanks I forget to look for that stuff! That should be fun.
No, it's an indicator called ZUP. There are lots of different versions, I think they even have 107 version now, I'm still using v83. You can find the latest version online or here is v83.
http://www.filedropper.com/zupv83
Got out with 12 pips, don't like the way that one hour TDI looks.
Pretty much yes. Sometimes I will move them around a dozen times or so until I feel like I know what the plan is. Many times the extension or reversal point is a multiple of the extension itself, case in point the 1.902 being the square root of 3.618 and the extension of that being 3.618. It's very hard to consider the overall trend in it as well but quite often it results in a very minimized risk/high reward scenario when I get it right. Have several EAs that run on ZUP but I just haven't been able to get them as good as my eye yet and compare all variants of the extensions yet.
Here are two views of the same trade and they match exactly. The second one probably explains best what I look for. But I do look for them all to match up so at 1.07 we have the 1.902 thing, the .447/2.236 inverse thing, and the .886/1.128 thing.