Sunday, October 13, 2013 7:31:15 PM
SG, here is a chart that I set up last night. Based on one of Alfonso's video's. Suggesting using fibs his way, but his way is not stacked. It uses 3 fibs, all on one UJ 4H chart & start/end points from auto supdem area's. Planning on leaving it for a while to see where the reaction levels fall.
I was considering a short on this pair if it would not have gapped down on the current bar. But I have already noticed one thing that may be valuable info down the road. The current bar's low went right exactly to the YELLOW 50% fib and then bounced up. Not certian what it's telling me quite yet. But it might just hold & maybe consolidate above it. Their are 3 other fib lines all in this same "bounce" area, tightly packed in.
Well, anyway, I have it on radar to get a better feel for reactions.
I was considering a short on this pair if it would not have gapped down on the current bar. But I have already noticed one thing that may be valuable info down the road. The current bar's low went right exactly to the YELLOW 50% fib and then bounced up. Not certian what it's telling me quite yet. But it might just hold & maybe consolidate above it. Their are 3 other fib lines all in this same "bounce" area, tightly packed in.
Well, anyway, I have it on radar to get a better feel for reactions.
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