V1-T1_EURUSD_E6H2018 Futures_Fib Levels ID'd_Weekly prep
Hello folks! Check out these color coded Fib levels.
The right chart is 1 hour, looking into the details of next week. Dark green ray lines are Thursdays High and Low. Orange ray lines are Fridays High Low.
The daily chart on the left shows the light blue and orange Fibonacci retracement levels.
The light blue is from a partial swing low to a major swing high. It holds some weight but less than the other two.
The orange is from the very low in the bigger picture counter trend pullback (11-07-17) to the highest high. It is very relevant to future movements.
The dark blue seen only on the Daily is very powerful and is ran from swing low to high on the monthly chart (see chart in comments) The dark blue levels are very powerful and should be treated with supreme wait and see mentality.
If we go below the most recent low marked by the red line expect to test the 1.21000 area where the next major cluster of levels stand to hold strong. Supported mostly by .382 level Dark Blue. Notice where the last bottom was put in in relation to the orange fib level. Its obvious the market signaling lower if these lows are breached.
I will continue to position LONG -with trend unless we move below that most recent lows. Looking at the Daily Slow Stochastic we may be about to return to with trend movement and I want to be apart of it.
Trades considered through out the week based on these levels. Stay tuned.
If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated!
Disclaimer: Different data shown. |V1-T1 = Volume 1-Trade 1| Material is educational only. Trade at your own risk!
Want to learn more about Fibonacci Retracements? Read this: www.investopedia.com...nacciretracement.asp
The right chart is 1 hour, looking into the details of next week. Dark green ray lines are Thursdays High and Low. Orange ray lines are Fridays High Low.
The daily chart on the left shows the light blue and orange Fibonacci retracement levels.
The light blue is from a partial swing low to a major swing high. It holds some weight but less than the other two.
The orange is from the very low in the bigger picture counter trend pullback (11-07-17) to the highest high. It is very relevant to future movements.
The dark blue seen only on the Daily is very powerful and is ran from swing low to high on the monthly chart (see chart in comments) The dark blue levels are very powerful and should be treated with supreme wait and see mentality.
If we go below the most recent low marked by the red line expect to test the 1.21000 area where the next major cluster of levels stand to hold strong. Supported mostly by .382 level Dark Blue. Notice where the last bottom was put in in relation to the orange fib level. Its obvious the market signaling lower if these lows are breached.
I will continue to position LONG -with trend unless we move below that most recent lows. Looking at the Daily Slow Stochastic we may be about to return to with trend movement and I want to be apart of it.
Trades considered through out the week based on these levels. Stay tuned.
If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated!
Disclaimer: Different data shown. |V1-T1 = Volume 1-Trade 1| Material is educational only. Trade at your own risk!
Want to learn more about Fibonacci Retracements? Read this: www.investopedia.com...nacciretracement.asp
Comment:
Notice (dark blue) Monthly fib level.
Comment:
Also very interesting is where we went on this pre-breakout retracement. Weekly on left. Daily on right.
Comment:
Comment:
Sorry guys took me a couple tries to get this setup right. Its a learning process. This is the final.
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