Alternative Technical Templates.

[tonymand]

Out half, stop to be, let the rest ride and see where we go. Next key level is 166 as the low of the day,then 150, 120 and 100

[tonymand]

Worth keeping an eye on this. 43pips is a very narrow range for this pair in recent times and could be the prelude to a significant move

[tonymand]

Nice example of how the key levels held yesterday

[tonymand]

No retrace on GU this morning though early yet but EY has given a nice opportunity. Lots of entry signals depending on your favourite set up but we have a long term downtrend with retrace close to the 60SMA, divergence, arguably a double top, outside bar as per James definition, short term MA cross as per Cowabunga all occurring at the 78.6 fib

[daydreamer65]

Hi Tony hope you had a good holiday.

Would you just explain the significance of the 78.6 fib,
where was this from, is it (159.76?- 161.19?) retracement
on the 15M chart?

TIA

[tonymand]

Originally Posted by daydreamer65

Hi Tony hope you had a good holiday.

Would you just explain the significance of the 78.6 fib,
where was this from, is it (159.76?- 161.19?) retracement
on the 15M chart?

TIA

Hi DD, yes I did thanks. The significance of the 78.6 retracement level I picked up from Jimmy Young. Interesting to put it on your chart and see how often it comes into play. On some evenings it can be highly predictive of a direction change

[daydreamer65]

Originally Posted by tonymand

Hi DD, yes I did thanks. The significance of the 78.6 retracement level I picked up from Jimmy Young. Interesting to put it on your chart and see how often it comes into play. On some evenings it can be highly predictive of a direction change

Thanks Tony, so it's the 78.6 fib from the last days
high/low?

[tonymand]

Originally Posted by daydreamer65

Thanks Tony, so it's the 78.6 fib from the last days
high/low?

In this case the last significant high/low of the major down move on the 15min frame

[mustang]

Things have gone a bit quiet here so I'll try and crank it up again.I took a break from trading over the holiday period and am now back into it,there were a couple of good trades in the last 4-6 hrs on the g/u and e/y using the ib/ob system coupled with what I've learnt about support and resistance in this thread.Needless to say I didn't take either of them!
I've been at this game now for nearly 18mths and in that time have gone down all the usual paths of frustration, opening an account with 10k (USD) trading full lots,loosing half my account,changing systems regularly,etc etc.
Finding this site and in particular this thread and the "40-100 pips per day" thread has really turned things around,I've had two months of profit and feel much more confident about my future trading.
I've learnt most things the hard way and now only risk 1% of my account per trade (and I've changed to a mini acc.),I limit myself to trading only the best setups during the time I'm at my computer.
Hopefully the experts will re-visit this thread and teach us some more.

[BlackPips]

Hey Tony and DD,
happy new yr to u all.
i have demo'd for about 7 months and i think i am now ripe to go live, ( i would have attached my performance chart but i am sending this from the office)
anyway, my problem is getting a broker, u see, i leave in Nigeria and most brokers will rather not deal with us, that's kind of frustrating...but i understand their bias. i really understand.
now my options are alpari(maybe), northfiance, interbankfx (maybe) and cms (maybe)
and i say maybe ''cos i am yet to get a response to the mail i sent them...they can reply and tell me they won't play ball with me just like oanda did.

now which of these brokers will u guys advise me to go with?

i know i really should not bring this topic here but i am banking on your experience and understanding of how much stress it takes to find a broker.

Tony, u live in aussie, what can u say about the broker fxs forex, do u thnk the are good enough, they have not replied the mail i sent since last week?

i really appreciate your time.

regards.