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Currency Futures

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  #972 (permalink)

Market Wizard
Berlin, Europe
Trading Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
Fat Tails's Avatar
Posts: 9,794 since Mar 2010
Thanks: 4,235 given, 26,376 received

Silvester17 View Post
now, this is a chart.

this is exactly what I'm looking for. and I'm pretty sure we are not the only ones looking at the exact same thing.

I have also often observed that price action stops at the Fibonacci line, then retraces and then temporarily breaks it to collect the stops before it retraces. We currenctly can observe a potential 2B pattern in the making, which is not yet completed nor valid.

Technically there could be a retest of the lows, which is one possible scenario. I am just bullish, as I observed a blatant lack of sellers, or alternatively lots of traders covering their shorts.

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