All yesterday trades have been closed with more or less profits, which is a good think ; it remains me only a USDJPY block of positions, which I'm planning to close today, if the market allows it. That being said, here are the levels for today : EURUSD Possible current intraday trend : DOWN In that context, I'm looking for BUY orders at these levels : N1: 1.2090 N2: 1.2069 N3: 1.2039 See green arrow in the following graph : ****** GBPUSD Possible current intraday trend : DOWN In that context, I'm looking for BUY orders at these levels : N1: 1.3700 N2: 1.3683 N3: 1.3659 See green arrow in the following graph : ****** AUDUSD Possible current intraday trend : DOWN In that context, I'm looking for BUY orders at these levels : N1: 0.7634 N2: 0.7608 N3: 0.7579 See green arrow in the following graph : ****** USDCAD Possible current intraday trend : UP In that context, I'm looking for SELL orders at these levels : N1: 1.2891 N2: 1.2932 N3: 1.2979 See green arrow in the following graph : ****** USDCHF Possible current intraday trend : UP In that context, I'm looking for SELL orders at these levels : N1: 0.8910 N2: 0.8933 N3: 0.8695 See green arrow in the following graph :
%% That most likely still works, even if not exact; in that market. I did some testing with fib levels,pivot points, moving averages, williams %. BIG problem i could not even see my price candles with all that junk on\intraday /LOL So i had to take most of all that junk off to even read my charts..............................................................................................................
I don't know about you two murray t and Scataphagos (maybe you are into trading for a longer time than me), but I find that in forex market intraday movements are less erratic than years before in the shorter time frames (less than 1 hour). And I don't see anymore big movements of 150pips on a NFP for example. Some guys are saying it is because of liquidity brought into the markets by algorithms and high frequency trading, but I don't know if it true or just another urban legend.
Not a fan of Fib Levels at all. There are some cases where one of the Fib levels absolutely coincides with a top/bottom tick, but I don't think its originates from people watching the fib levels. Its usually because of another area of support or resistance at the same level. Ie previous prices, whole/half dollar, popular MAs etc. When you plot 165million fib points its bound to happen.
O.M.G. LOL !!! This is funnier than hell. "When you plot 165 million fib points it's bound to happen" Good one.
If you look closely at this thread, you will see there is only THREE levels per pair. Not millions. I find them quite accurate ; and in my opinion, there work not because of lots of people watching them, but because it is an intrinsec property of the tape.