I placed the trade Friday. Risky I know. But what's one more after the week I had? Starting over with a new Demo account today. Going to TRY to be realistic this time, now that I've proven to myself I can "unleash bloody hell on the markets" as Thom ...

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Found this one late Friday. The gap over the weekend hit TP.

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So will Viagra.

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Here's my take. I think it was all BS. Look at how long that wick is. There was a hell of a lot of buying. A lot of money (stocks) changed hands yesterday. All the media oulets were saying SELL SELL SELL all week. Everyone is still jittery and once ...

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GY H4 — Found it. Updated first post.

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OK, updated EJ and GY W1. I removed GY H4 until I can find a fib I like. At this point it's a mess. Bartstop

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It's just a matter of time. You should see the way people are in this country. They will spend money just to be spending money. If they don't have something new and shiny at all times they get depressed. I was out shopping with the wife last weekend ...

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Yea but that unemployment rate doesn't want to come down.

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I wonder if we should limit our counter trend trades to: 100-61-50 100-61-pierce-38 100-61-pierce-50 I guess that's all we should really be trading anyways. Bartstop

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If I tweak it up just slightly I get a 38 hit and 2 0 hits.

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Yea I did. I placed the order right before I went to bed. Isn't that a good feeling when you wake up and your trade completed. It's kinda like Xmas when I was a kid. Anyways, you like this for EU?

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As best I can tell, this is where we're at on GY.

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Rubbing it in. — Yep. Bartstop

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Just to clarify. The above concept applies to all timeframes. Also, don't expect the 138 rejection to happen every time price decides to reverse. This AU chart was just a good example. Let me know if you have any other questions. Bartstop PS - ...

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This should help.

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Checkz, you're right it is a daily. I don't anchor the 0 line if that's what you're asking. This is what I do. 1. Anchor the 100 line. 2. Align the 61.8 with the first pullback. 3. Check to see if price has hit 138. If it has, move the 61.8 up to ...

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Checkz, you asked about the 4hr fib right? That's what I was refering to. There's no need to update the 4hr fib. It's still good.

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Checkz, the fib is still good. Do you see how price touched the 138 target but didn't go through? When that happens, you leave the fib. It's a good indication that a reversal is coming.

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Thom. I hope you were short on GY.

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When I drew the fib on the 1hr chart above, I saw the 61-50 so I jumped in. I wasn't planning on riding it that far but it showed no sign of weakness. That's one thing I've learned from staring at these charts for hours and hours. You can see how ...

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