Update:Cycle complete
-----Now that we have got a hit on the 50 level I expect this to be a swing high meaning that tomorrows candle will close below today's high. Based on that I will look for a nice sell opportunity on the H1 chart.
To the recent comment about the 50 level-----I am not a "reasonable" fib puller! I will try and post an exercise or two to help with those of you that are wanting to know how I get the fib pulls I do. I take measurements of other points in order to project the new highs and lows.
Cycle Finished.
The plan: Watch this upcoming 50 level (green line) if we do not make a swing high here (tomorrow candle does not break the high of the current candle) Then we will be ready for some more longs!(to clarify....we need a break of the 50 lvl with out making a pivot candle *which is a swing high in this case*
If EURUSD does NOT Close on a new high, then more longs? Typo?
ReplyDeleteActually not a typo, but I should say that it means If it breaks the 50 lvl without making a high at it (which would complete a cycle) I will edit and clarify.
ReplyDeleteThank you. No matter how I fib it, reasonably, I cannot see a 50 lvl. How do you define that lvl?
ReplyDeleteOk, I understand you have a unique fib approach. I look forward to the clues.
ReplyDeleteSounds good! I am not going to be posting the method on here as I do not want a hard copy form of it on the internet. I will post exercises that will help get you pointed in the right direction.
ReplyDelete