Perfect fib retracement in EUR

[DannyBly1]

Last night we saw the EUR retrace to the 50% level to the pip....let's see if that 1.4590 level can hold...

 

[cabletrader]

1.4590 was 61.8% wasn't it?

Are all those little blue triangles Buy trades?

 

[davidmaria1]

I was looking at that. See 1 yellow triangle. Can you scale out with that software? If those are all buys........

 

[cabletrader]

I think they're Oanda charts, can't remember if those little triangles are orders or trades though.

 

[bugscoe]

Quote from cabletrader:

1.4590 was 61.8% wasn't it?

Are all those little blue triangles Buy trades?

Correct, .618 it is.

It's also .786 of the next swing up and a 1.272 ext of the next swing up.

 

[H*Pi]

Quote from cabletrader:

I think they're Oanda charts, can't remember if those little triangles are orders or trades though.

Those are Oanda fills on long trades.

 

[davidmaria1]

Pretty sure it's Oanda. Triangle up is a buy. Triangle down is a sell. Pretty sure the red dot was a pending limit order. All those buys were on a descending candle. Is that called counter trend trading? I must be missing something.

 

[cabletrader]

Quote from H*Pi:

Those are Oanda fills on long trades.

Thanks H*Pi (how do you pronounce that!)

Wow, someone's serious about their averaging!

 

[cabletrader]

Quote from bugscoe:

Correct, .618 it is.

It's also .786 of the next swing up and a 1.272 ext of the next swing up.

I'm trading $/Cad so haven't been watching, is it a good trade?

 

[cabletrader]

Quote from davidmaria1:

Is that called counter trend trading? I must be missing something.

What you're missing you wouldn't want to find!

Trying to catch a falling knife is painful, I think the round red dot was a stop.