how about that? placed a position trade last night right about the time i posted that. I am up (actually short,lol) with a 60+pip gain for $1200 and its still falling. Kastro, i don't try to predict tops and bottoms, just catch a middle piece of a trend, hopefully a huge piece. Montaintrader, thanks for the agreement. Nice to see anotehr person not following the little dogs. I try to trade with the big dogs. Makes staying with the trend much eaasier
I bought out of the hole again this morning. Should be another cardiac day. BTW - I was not implying that this was any major bottom. I do not pick bottoms. Much too dangerous for me. There is certainly alot of bidding going on down here. Might not be enough though
Although I do not make decision using Fib stuff, I certainly pay attention when it coincides with other support and resistance levels, especially the big ones. If your charting software has a "Fib Fan" tool. Stretch it from the all time low to the all time high. You should see that we are right at the 50% retrace level. This helps explain at least some of the buying interest here.
I am long on Eur/Usd and just opened a long on USD/CAN at 1.1914 I got stuck with the eur/usd in a bad spot, so i am in the hole a little. I put a buy at 1.6900