FIBONACCI ,,,, are they a myth OR a reality ???????


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656 118
Holy cow!
Live trades




Oh p00.! In my rush to post for forum big ups I've entered early. The runes will decide.
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Established member
656 118
Great run it was on the old pound ng .
Very Classic well behaved , and orderly move
My first target was 60909 , and 60955, Little disappointed with the retracement at the first target , BUT its understandable with the bullishness it was moving up with after a small retracement after the first leg off the bottom and final target for an extended day like this was 61515 , and 61665 . BUT with major level rally of the run down range in sight at 61739 , had to take it into count , and it can still push up to the 6211 level , BUT it is contenting with the structure lows on the left, BUT i am strong about a nice retracement here , and IF it comes through i would be looking at the 6106 for first stop and then 6066 level .
This is on the short term of course

It wasn't well behaved. As it started at what? 2AM in the morning, no-one in the UK timezones in their right mind traded it :LOL:

George A

Active member
147 11
So.. anyway...George.
What broker would you recommend? What do you reckon to FXCM?
Firstly a very good morning to u ng.
With the pound opinion i expressed , i think my eyes are giving away on me in my mature age hahahahaha .. still not 60 yet though ,, only few moons short .
I said it could push up to 6211 BUT the correct level was 62145 , and although it did push to 62249 , the bull candle did close at 62139 and the open of the next candle was 62140 .
The other thing i would be watching for is , IF we look at the 16th , we see the market putting in a 2 bar rally to finish the day and then a 6 hour consolidation period , giving us a base range to work from , now if we take that rally range and use it from the low of the 17th( looking for harmony ) , we see the market rallied double the size of that range( what i call 200% repeat extension ) giving us the mid high OR what i call center point .
Now IF the market is going to run harmonically , then we have a target to watch for , a repeat of that range from the low after the mid point (next swing low ), which will give us a target of 62162 .
These are the basic foundations of fibs ng .
BUt the market action of the 18th(yesterday ) , that is another story as it gets deeper into fib technicals , which i will not go into , BUT if u zoom into a 15 mnt chart , u will see a similar picture as the 1 hour chart for the 17th . and agin it was perfectly balanced day.
sorry to bore u with this BUT i wanted to clarify my call and mistake ( that damn middle old age thing hahahaha) . :eek:fftopic:
FXCM ,,,,
No i do NOT use their platform although about 18 months ago or so i did downloaded BUT maybe because i got used to the mt4 , i found it NOT as user friendly , and felt one needs to work for the platform rather than the platform serve me , BUT that could also be due to MY laziness and not putting in the time to learn it , so i can not say it was not good , BUT it did not SEEM to serve me with what i am used to , but i feel they are a great broker , and of course they are in Australia also , as i do NOT like using brokers outside the country for money safety purposes .
Wishing u a great dya/evening , where ever u r in this wonderful world of our .
George (y)

George A

Active member
147 11
It wasn't well behaved. As it started at what? 2AM in the morning, no-one in the UK timezones in their right mind traded it :LOL:
You must have been typing this reply while i was typing mine , except breakfast was ready ( yes brown rice everyday , which takes 1 hour to cook ) . and had to stop .
Yes i agree with u on the time factor as i miss alot of trades due to time , i can NOT go to bed late due to my sensitive eyes , 10 - 10.30 is my usual , and anything after 11 i can NOT sleep well .
The US market nowdays opens at 11.30 pm Sydney time , which is a killer for me .
Europe is the best place for me . and thats why i am planning to start spending 6 months of the year somewhere there , Croatia coast OR Athens , cause i love the Mediterranean , as i grew up there till i was 16 , which was many many moons ago ng hahahaha , but its a great place just like london where one can catch ALL markets during the day .
Cheers ,
George :cool:

George A

Active member
147 11
Closed for a huge loss of 4 pips. Maybe fibs might have helped me?
Hahahahahaha , good one (y) ,
BUT i gues IF u did use them , often u r in within.2 to 2 pips off tops and bottoms depending on the spread , which would not have touched ur 4 pip stop loss :p
Have fun
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