Fibtree

Fibtree

Hey Traders, The Double Repo is defined by Joe as a reversal pattern that comes after thrusting market action. To be completed we need a close above the 3x3 a close below the 3x3 and another close above the 3x3Moving Average. Although the Pattern clearly is most powerful in higher Timeframe (Daily and up) it can be traded with success in lower timeframes too....

Fibtree

Should we get a CLOSE above the 0.618 level of the high from the second penetration of the 3x3 to the low of the candle that confirmed the DRPO, it is invalid. Since this is a monthly DRPO the close would also need to be monthly close!!! Expect this area to be tested before the real fall starts!! This could be ideal entry leve!! So sell the test of 2000 at the...

Fibtree Updated 

so far completed pip by pip... Here is the definition from Scott Carney: Bat Pattern Elements: • B point at a less than a 0.618 retracement of XA, preferably a distinct 50% or 38.2% retracement. • BC projection must be at least 1.618. • AB=CD pattern is usually extended. • 0.886 XA retracement. • C point with range between 0.382 and 0.886. I'm also watching the...

Fibtree Updated 

Short USD

Fibtree

My Analysis tells that the stops above this top will be cleared out before a sustained Downmove is possible. Any attempts to sell before that spell disaster.

Fibtree

GBP/USDs unwillingness to go lower on NFP today, together with the Price action from yesterday, which as taken out the low from spring 2015, makes me bet on a possible big move up in front of us :)

Fibtree

Sometimes it all adds up, we have structure break as shown perfectly by Anil here: I just plotted AB=CD out of fun and lo and behold, it has the pattern of the "perfect" AB=CD as described in Carneys books and it targets exactly the next round number :)

Fibtree

B point exact 78.6 and C point not above 88.6 would allow for a butterfly buy @ 35.40

Fibtree Updated 

Minimum Target 5/8 retrace of yesterdays move up @1.068