FibMaster
05-29-2008, 03:09 PM
This is an excellent example of how you can apply Fibonacci retracements to trade FOREX charts. These techniques are used to predict probable market turning points, well in advance of price action, to help you make good trading decisions. See the chart links below.
In the first update for subscribers, I said that we have Fibonacci support at .7880, and we can expect a bounce. If we do get a rally there, we have two possible resistance zones (on chart with blue lines (.7925 and also .7945) for short entries.
So what happened?? The bounce was at .79985 and it rallied to .7917 where it reversed. Wow that is accurate trading! After that, the predicted short trade moved the chart all the way from .7917 down to .7841 , exceeding our profit-exit expectations!
Today I sent out 12 (TWELVE) great chart updates to subscribers, packed with trade recommendations like this.
For only $9.95 you can get these updates for two weeks, why not give it a try? You're paying more than that in spreads on a couple of trades!
http://www.dailyforexcharts.com/
Here are the two EUR/GBP chart updates;
The first update, before the trade, see setup and entry.
http://tinyurl.com/4rlazk
Second update after the trade, see the profits!
http://tinyurl.com/3pcro9
More resources; Do you want to learn how to trade like this?
Download these video seminars, learn the easy way;
http://www.traderzine.com/cgi-bin/redir.cgi?url=fibm
Join my on-line live trading workshop/chat here;
http://www.fibmarkets.com/pro_seminars/index.html
-Neal.
In the first update for subscribers, I said that we have Fibonacci support at .7880, and we can expect a bounce. If we do get a rally there, we have two possible resistance zones (on chart with blue lines (.7925 and also .7945) for short entries.
So what happened?? The bounce was at .79985 and it rallied to .7917 where it reversed. Wow that is accurate trading! After that, the predicted short trade moved the chart all the way from .7917 down to .7841 , exceeding our profit-exit expectations!
Today I sent out 12 (TWELVE) great chart updates to subscribers, packed with trade recommendations like this.
For only $9.95 you can get these updates for two weeks, why not give it a try? You're paying more than that in spreads on a couple of trades!
http://www.dailyforexcharts.com/
Here are the two EUR/GBP chart updates;
The first update, before the trade, see setup and entry.
http://tinyurl.com/4rlazk
Second update after the trade, see the profits!
http://tinyurl.com/3pcro9
More resources; Do you want to learn how to trade like this?
Download these video seminars, learn the easy way;
http://www.traderzine.com/cgi-bin/redir.cgi?url=fibm
Join my on-line live trading workshop/chat here;
http://www.fibmarkets.com/pro_seminars/index.html
-Neal.