Eurjpy
Looks like EURJPY is interacting well with some fibonacci extension levels http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif Thought I would make another contribution to the Fibo Forum... http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11168&stc=1&d=1202190765
Audusd
Interesting how this moved up so far from the.382.
I am thinking that a downtrend is in place as there seems to be a lower high after the uptrend.... however, the market will let me know.! lol
I base my idea of a downtrend based on the equal highs.
Does someone have a comment.?
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11077&stc=1&d=1201823243
382
This chart is pretty small, just to illustrate something...
I thought it interesting that .382 is so prominent on both of these....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11078&stc=1&d=1201824499
the system that I use is based on oscillators, mainly stochastics... it seems to support your approach.
I have not been in the habit of making an entry on a daily chart, my trades are usually cleaned off before I close my charts.... however, I get to pay spread a lot more than you do...lol
I have marked up this chart a bit.. and I am posting it so that others may see confluence with your approach.....
To me.... there is a trade entry just about available and it could be a nice ride down .
From what I see there is a bit of resistance at 1.478 and once that is breached the time to enter is at hand....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11161&stc=1&d=1202168232
Gbp/usd
Looks to me as if there may be a small move up and that the bias is generally down to the 2007 low.
And then a long slide further.....
Of course, this being a monthly chart the moves will be slow to develop on daily.
Have a great week, everyone....!
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11263&stc=1&d=1202654497
My feeling is that the levels are valid, however, we can not always correctly apply the tools. as there are so many cycles in effect all the time...... and leads us to feel that there could be inaccuracy.... hence the validity of using longer TF. to measure the more powerful long cycle...
I am attaching a monthly chart....... of course there will be a lot of fluctuations on the lower time frames. some good cycles....... however. if we make a lower high, there will be a nice long ride down.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11282&stc=1&d=1202689738
Attached chart is the highest time frame I use for regular trading, I have on it Harmonic levels
which also give some idea as to support and resistance.
I have drawn a magenta line from January 23 high which may be resistance to an up move (approx 155.79)
I also placed a Fib line on the recent decline.... I feel there is going to be resistance to the up move in that area.....
We will see how the drama unfolds.....!
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11284&stc=1&d=1202692083
here is a coincidence...... well perhaps not.....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11287&stc=1&d=1202702597
Looking at the EUR/USD 4 hour chart, we can see the recent price decline stopped at the 61.8% Fibonacci retracement of the 1.4366 low to 1.4942 high swing.
With the ECB rate decision looming ahead on February 7th, we could continue to move sideways until the announcement.
Thanks for your post Tradermoe and bringing this to our attention!Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11201&stc=1&thumb=1&d=1202326901
The EUR/JPY looks to be setting up for a run back at he 159.48 level. We penetrated and bounced at the 61.8% Fibonacci retracement level. A kind of "hammer" punctuates the rejection of the bearish decline. Whether people believe that Fibonacci are "self-fulfilling prophesy" or "the natural order of the universe" one has to believe that these levels are more than coincidence or random walk.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11278&stc=1&d=1202684515
The Australian dollar and its related crosses look to be on the upswing. Bullish bounces from the 32% retracement level indicates strong buying.
Since this the Australian central banks remarks are contrary to the G7 rhetoric of lowering interest rates and taxes to fend off recession, AUD pairs will be attractive to those seeking yield in an economy that has been in a period of expansion for 16 straight years.
Take a look at the AUD/CHF 4 hour chart attached. Price is trading above its 200 MA as well.Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11291&stc=1&thumb=1&d=1202712459
eur usd
Looks like the 38.2 has been a good support and also looks like we are forming an ascending triangle and possible triple tops. If you look on monthly chart there have been some good reversal candles (shooting star and 2 hanging men) and RSI is around 80. Also my RSI has crossed below the 50 line. I think price may drop to 1.4450 area for now. We will have to wait and see what it does from there, but I do think that EUR/USD will make its way down at least temporarily according to the monthly chart.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11203&stc=1&d=1202327463
Typically, if price retraces to the 38.2% Fibonacci level and moves higher, it signifies a strong trend as traders are too eager to wait for a "better" price in the form of a pullback.
However, on average, price retraces to the 61.8% level more often. One of the last levels we look at is the 78.6%.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11313&stc=1&d=1202759861
on eur/jpy daily i see a symmetrical triangle within a symmetrical triangle. Price is also near the 61.8% fibonacci line and the smaller symmetrical triangle.
added hourly chart to show smaller symmetrical triangle better.
i believe price will go down until it reaches 154.50-154.70 area. rsi on daily is below 50 and on hourly is just bouncing off of 70.
moe
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11338&stc=1&thumb=1&d=1202847299
http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11339&stc=1&thumb=1&d=1202847568
GBPJPY monthly
Price has bounced off .382... and heading lower at this time.... Does that mean we will see .500 or greater... is there a 'rule of thumb'.....?
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11307&stc=1&d=1202749809
Usd/cad
I am not so sure that an uptrend has commenced as there is not yet a defined higher low on the monthly chart. strong resistance at .382 and .500.. the last couple weeks have been like a chop zone
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11308&stc=1&d=1202750850
Eurusd
this is pyrapoint.. not Fibonacci. indicatiing a change in direction in the next couple days
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11315&stc=1&d=1202761909
US Dollar index
Price is right on the line so I think in the next day or so we will see a change in direction.
I am posting this in here as so many of the pairs we work with are related...
Perhaps someone has a technique of showing trend changes with the fib tool, I will be pleased to learn that method.....
thanks
dave
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11320&stc=1&d=1202786803
The Daily trend is down so a further decline would be in order.Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11489&stc=1&d=1203301476
Given the high positive correlation of the EUR/JPY with the stock market and the stock market rallying, EUR/JPY looks poised to move higher.
EUR/JPY bounced from the 154.91 congestion area and 61.8% Fibonacci level of the 152.07 Low/159.52 High swing. It has formed a classic 1-2-3 or a-b-c pattern where a beak above point to opens up 162-164.00.
Missing the entry at 156.00-67 area, a second chance entry remains at a close above the 159.52 resistance (January 30th high).
If EUR/JPY fails to get above 159.52, then I would tend to agree with you that we could see the 152.00 handle taken out.
Only time will tell.
See the attached chart:Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11535&stc=1&thumb=1&d=1203455632
Here is a Daily 10 year chart of the EUR/JPY. Starting from the October 2000 low of 89.28 to 169.41 reveals completely different Fibonacci levels.
The higher high of the MACD line is bullish. But again, time will reveal which way this pair ends up.
Thanks for the posts of your charts. They are always a treat!
GregAttached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11541&stc=1&thumb=1&d=1203466551
EUR/JPY monthly.... I am attaching a couple charts.....
On the first one is Macd divergence...... Price has made a lower high which may well indicate that a decline has begun..
It may take until June or even August for the trend to be determined.
This is not a clear cut scenario.. for sure unclear......
These are not really Fib charts, they just add an additional perspective to further muddy the waters... http://www.learncurrencytrading.com/fxforum/images/smilies/eek.gif
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11538&stc=1&d=1203464758
here is fibonacci time levels from metatrader. as you can see instead of having percentages they have the numbers
moeAttached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11491&stc=1&d=1203301753
http://www.korzec.ca/tradingspace2.jpg
partial rise showing on eur/jpy. i think it might break upward soon, just has to break through that 157.00 resistance zone first.
moe
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11358&stc=1&thumb=1&d=1202902290
gbp/usd
here is a daily chart and hourly chart of gbp/usd. it is in a symmetrical triangle on daily chart and if it breaks upward can turn into a double bottom but if it breaks down then continuation pattern.
if you look on hourly chart you will see we are near resistance of triangle and horizontal line. rsi is showing divergence, so at least for now i believe it will move downward to 1.9525 at least.
moe
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11364&stc=1&thumb=1&d=1202905724
http://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11365&stc=1&thumb=1&d=1202905757
You said the Daily trend is down so we would want to sell. I drew fibonnacci retracements on the daily chart and it seems to show a struggle around the 38.2% level, which would seem to say it is a retracement and not a down trend. It also looks like it may be starting to move sideways until it can figure out what to do. It would seem to me that you are talking short term and if so, wouldn't it make it just a retracement?Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11495&stc=1&thumb=1&d=1203341825
When Price makes higher swing highs and higher swing lows, we are in an uptrend.
A change of trend happens when we make lower swing lows and lower swing highs as indicated by the circled area.
Your fibs would be drawn from the swing high of 2.1128 down to low in the 1.9383 area.
Until we see closes above the 1.9930 area with higher swing highs and higher swing lows, we would look to trading the short side of cable.
See the attached chart:Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=11496&stc=1&thumb=1&d=1203342893