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If they can get it to 1.0749 I'm gonna short it again.
Not only that but it's the 3.618 of the 1.902 extension at the top. 1.902 is the square root of 3.618. I'll be long there at 1.07.
Going to be one interesting long position at 1.07. 1.414 square root of 2 at top and 1.732 square root of 3 extension.
lol Pennies, I agree.
Close enough for me. 1.0753.
I'm going all in short at 1.0757. .707 middle, .618 at bottom, 1.272 extension on top. Boom or bust.
OK est, have a good trip!
It's is possible. Here's a very intriguing combination. When I draw the fib from the .707 to the bottom we get the reversal at the .618 (top picture) and when I draw the extension from the bottom of the .707 I get the 1.618 extension here. Wish I understood more of what this means longer term. I went short here based on the second chart but something tells me it's not the point because of the .707. I want to know to the pip when it reverses.
Took 15 pips on a small long position here. EW sequence here off the daily 20 sma. That pointy wedge looking thing was wave 1.
Sometimes I do sit tight but usually I plan it so that if it is the trade that I think it is, it's a very tight margin of error. If not then I rethink where I screwed up. Like today I got margined out with 12 pips because I thought the .886 should be the catalyst. It went down 35 more but it could have easily went down 150 more. Just depends on how sure I am.
I've been baffled all day at work thinking about it because I actually came home to take a position at the double bottom I thought would happen at the same level as the 2.236. I could see the price on my phone and I remembered it was right around 1.0640 and I coulse see it in my mind clear as day. So I get home and I see this 1.05 fib retrace in yellow and go back and forth between the 15, 30, 60, and 240 timeframes and it look like lower so I talked myself out of it because it just didn't make sense with the 1.05 fib retrace there. Stupid me because now I realize that reversal point was the daily 20 sma at the center of the bollies. I never thought to look for it. Can't believe I make that rookie mistake not to zoom out to the daily.
Well I'm not chasing that kooky sob. 1.0633 was no technical level that I remember seeing. Still got orders waiting above 1.08 if it goes there tho
Next stop 1.0466 at the next extension. No longs for me until there.
Well just wasn't meant to be. Lost what I made last night so no big deal lose some win some
Good looking inside bar too. Gonna move my stop to my entry before I leave for work.
4.236 extension of both of the blue lines. This last drop doesn't look like a wave to me, more like a very sharp abc meaning triangle of some sorts.
I'm all in so if I'm wrong I'm margined out. Right I win big. Came within a hair of getting margined out on that last drop so Kimosabe can't lose much but can get Custer's scalp maybe lol. It's a very calculated risk/reward to me.
or Custer. There's the trendline.
Going long again 1.0676.
Well we'll see. I'm long and maybe wrong but I've been looking at this level all day to go long.
Believe that 1.0670 area gonna turn out to be a sweet spot!
One other reason I think we see a complete retrace on the smaller timeframe to 1.0850 or so is the weekly chart. On the weekly chart we had a 2.236 that retraced a full 100 percent (in red) to the start of the 2.236. The area in red is almost certainly an Elliot wave sequence when I zoom in to the daily. May be a bit of a stretch correlating the little 30 minute timeframe behavior with the weekly chart behavior but a it looks very similar.
Well we shall see. One thing that makes me think that is the way it got here, slow and steady just loping along some moving average. I think an impulse wave has a sharp immediate top and slow movers are more likely to take a double top to reverse.
I think it likely that the red circle was minor wave 4, especially since we seem to have gotten into what one would think is wave 1 on any drawing of the most recent wave down. So I would think that the 2.236 ended a semi-major wave 1 and we now have a likely 5-3-5 sequence back to a double top that would be a wave 2.
One thing that confounds the heck out of me in the bottom chart is that the FE 100 and FE 78.6 extension (marked in blue) seems to relate precisely to the stopping points last week but since there is a high (in yellow circle) that extends past the first point of extension it would seem that the two should be unrelated but they appear to be related to me. For the area circled in yellow to be related to the current run would almost certainly point much higher. Depending on how the chart gets to the FE 61.8 in the bottom picture I may definitely be going long there about 1.0470 or so, depends on whether it's a gradual touch or a sharp drop.
One other thing to note is that the FE 100 is actually about 1.0859 or so which is higher than what I would expect a double top to be here.
Strikes me as somewhat weird that it should stop right there without reason.
Guys I think this may mean 1.0850/double top. Here at the .886 of the inside bar the extension to the 1.128 is 1.0850. When I draw a full fib from the 1.0850 to the bottom, this is .786. .786 is powerful medicine as you can see from the lower timeframes. If you consider that Greece has to come to terms with the rest of Europe I can definitely see it.
Yes the gap is down around .97ish.
I think they do to or at least the bigger traders know. That's why I try to plan my trades and see what is the logical next step in the progression. I probably move that fib tool around 100 times in a day looking at it from different angles. When I find what I think to be right then it's down to counting waves and seeing if the TDI matches up. I can see 1.0570 or so as a logical 2.618 extension of this .786 drop.
Yes it is. 2.236 is an interesting beast.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71332630
12 more pips. I gotta quit this!
I think you be right on, the 2.236 we see here is a function of the golden ratio and likely marked the bottom of wave 3. I would see 1.0709 as a likely turning point for wave 5.
That's a good bounce on the 34, went long for a little. The Greeks gonna have to agree to something. What else they going to do start printing drachmas again?