Here is a potential long entry for GBPUSD. I have marked the Aggressive, Moderate, and Conservative Entries.
Aggressive Entry - With more potential downside to 5" an entry at 5' is high risk.
Moderate Entry - A break above the 1-3 trend line confirms the upward move and would be a solid entry.
Conservative Entry - A break above point 3 would be a safe entry for a...
Here is a potential short trade. Looking at 5' as potential entry and the GEO Off-Set rule as an exit. The GEO Off-Set rule has been thoroughly explained in the threads of @4xForecaster. Take a look at his profile for a great explanation of the rule. www.tradingview.com
As previous support of 285.00 was recently broken. Fib Level 1.618 (208.86) is looking like the next support level for BTCUSD. You will notice that at 10/24/2013 This is was the first level of resistance for the fall rally. Making this a very significant level of support. Interesting to see how this will play out.
My last Fibonacci chart seemed to work out quite well as price respected all Fib Levels. I have added the levels of 0.114 : 0.886, and 0.75 to this chart to see how well the market will respect these levels. I have also put the 50% retracement level on the first price high of this rather small rally. Would be interesting to see if price will indeed reach the...