Dow jones and Eur-dollar in futures

[conny]

Hi Neal!

If i understand your video , so Eur-dollar go down to 14500-600 level in futures or?

But what way go Dow jones in futures up or down,i think down to first 11700 level and in 2-3 year even 8000 level.:confused:

Conny

[FibMaster]

Hey Conny, great questions, but tough ones!

The EUR/USD chart is putting in a lower swing high on the daily chart, so if it can't get enough momentum to break up above 1.60 it will look weak and ready for a move down. How far down is unknown.

You have watched my video seminars, and can see the downward support levels from those Fibonacci studies. We use those levels to make trading decisions if/when the chart reaches them. So we don't need to predict whether price will do that, we just keep those levels in mind to take action when price reaches there. For example, they could be good profit exits for short positions. If the chart doesn't reach there, we may find that we exit at a closer Fibonacci level.

So we trade what the chart is doing, rather than predict what the chart will do. If the chart is falling, we can short, if it is rallying, we can buy. Then we manage the trade at future Fibonacci levels to make the best trading decisions.

I hope this explanation is helpful.

-Neal.