fib. expansion and retrace in forex

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retest of the low of the session.
the new short pendings get jammed up a few ticks lower and their stops get blown on the way back up.

notice how fast this went down on the second leg retest.
at the speed of lite

E=mc forex

this is not retail trading, this is full bore market makers running to the short pending paper.

" get you head around this stuff.........."

a shop " clean and jerk "
clean out the pendings and jerk it back up.

bankers 1.........

s

:D
 

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Quote from shopster:

retest of the low of the session.
the new short pendings get jammed up a few ticks lower and their stops get blown on the way back up.

notice how fast this went down on the second leg retest.
at the speed of lite

E=mc forex

this is not retail trading, this is full bore market makers running to the short pending paper.

" get you head around this stuff.........."

a shop " clean and jerk "
clean out the pendings and jerk it back up.

bankers 1.........

s

:D
More...

S

on what time zone is your MT4 broker is? it will help when studying your charts.

when you say "retest of the low of the session" and "second leg retest" do you point on the 4.2 fib?

I m just trying to figure out where the short pending order are standing...
 
A,

broker time has no bearing, price is all you trade.


............................

where does a short or long breakout trader place his pending order........?

you tell me.

s
 
Merry Christmas Everyone

images.jpg
 
Quote from shopster:

A,

where does a short or long breakout trader place his pending order........?

you tell me.

s
More...

S,

well i suppose (yes i know i should say this word) breakout pending orders should be placed in support/resistance levels like a range level or flag/triangle etc.

So if thats the case short pending orders were placed just below 1.618, right?

On the other hand if I would act as a retail trader (I suppose that I may would :p) I would have place my pending orders on 4.2fib.

A
 
12-24-11 11:07 AM

On the other hand if I would act as a retail trader (I suppose that I may would ) I would have place my pending orders on 4.2fib.

...................................

as you are getting short at the low of the session, what am i doing.......?

think of me as the banker.

here it is again.

bankers 2

s
 

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