[Party1929]

Hi Daedalus,
Thank you for taking the time to write about your Fib Approach. I am guessing you are not so old but you certainly have a maturity in your trading approach.

It was very refreshing to read through this thread after using fib levels in many markets since the days of the Gorilla stocks of the late 90s dot com boom.

I am actually trading the yen right now as the Fed has decided to shred the dollar. Even tho we had a .382 retracement of the major upthrust, it is a .618 on the hourly chart and coincides roughly with historical support of .98 and the always strong 1.00 level so I am long.

I am expecting a move to the .618 of the hourly downleg at around 1.0281.

I think this trade met your requirements for double penetration of the .382 AND subsequent closes above .382, but would be interested in your thoughts

Have you ever looked at fib patterns? These can augment this system very powerfully...