DougB

EUR/JPY LONG SETTING UP

FX:EURJPY   Euro Fx/Japanese Yen
22 0 0
WITH MY STRATEGY I ONLY USE FIBS. I AM ALWAYS LOOKING AT THE LARGER TREND BECAUSE LONG TERM VOLUME PLAYERS ARE WHAT PUSH THE MARKET OUT OF A RANGE. I USE FIBS FOR TRENDS / COUNTER TRENDS TO SEE WHO WILL PARTICIPATE AND DEFEND THE 50% AND 61.8% LEVELS. ONCE THE 61.8% HAS BEEN BROKEN A SUBSTANTIAL AMOUNT YOU KNOW PARTICIPATION IS NOT THERE SO THE OPPOSING MOVE WILL PLAY.

EUR/JPY             BROKE A SERIES OF LONGS RECENTLY SO I AM LOOKING TO SHORT WHEN PRICE CREATES A SWING HI TO LO AND ALLOWS ME TO ENTER AROUND THE 50% OR 61.8% LEVEL.



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