markyoung

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Markets Allocation
88 % forex 13 % other
Top Mentioned Symbols
GBPUSD 25% | 2 USDJPY 25% | 2 CADCHF 12% | 1 DXY 12% | 1
markyoung markyoung CADCHF, 1440, Short ,
CADCHF: CADCHF Short Entry at long-term 50% retracement
21 0 6
CADCHF, 1440 Short
CADCHF Short Entry at long-term 50% retracement

CADCHF has retraced to a 50% retracement line that has held for almost two years, so there's a good probability that this line will once again provide resistance. If the 50% line fails, next potential short entry for me (on a daily time frame) would be at the red 61.8% retracement line. The not-very-clear pink arrow over to the left shows when these fibs were ...

markyoung markyoung USDCAD, 240, Long ,
USDCAD: USDCAD Long entry at FIb retracement
49 0 4
USDCAD, 240 Long
USDCAD Long entry at FIb retracement

This four hour chart has a rolling Fibonacci pattern based on 8 hour bars overlaid - USDCAD has tracked nicely to 8 hour fibs in the past, often cycling between the 50% and -23.6% extensions of the most recent swing (highlighted by the arrow line). RSI in oversold territory with slight bullish divergence (RSI slightly up versus lower lowers in recent bars) Entry ...

markyoung markyoung NZDUSD, 1440, Long ,
NZDUSD: NZDUSD cyclical moves
43 0 3
NZDUSD, 1440 Long
NZDUSD cyclical moves

NZDUSD has been cycling up and down from the 50% retrace of a June upswing, and is now in heading up again after finding support at 50%. Past price action shows a good probability of reaching the 0% line around 0.73 This current set of fibs was drawn July 7th using Weekly data and has highlighted a few tradeable entries over the past four months or so. This ...

markyoung markyoung USDJPY, 1440, Short ,
USDJPY: USDJPY Fibonacci trend change on larger time frame
64 0 4
USDJPY, 1440 Short
USDJPY Fibonacci trend change on larger time frame

These fibonacci retracements are drawn automatically according to a specific set of rules, time and time again - this takes me and my subjective viewpoint out of the equation and allows the recurring nature of the fib patterns to show. The fib patterns on this chart were calculated using Weekly bar data, and overlaid over a daily chart. Weekly-based fibs get ...

markyoung markyoung GBPUSD, 15,
GBPUSD: Watching GBPUSD's well-behaved Fibonacci retracements
29 0 4
GBPUSD, 15
Watching GBPUSD's well-behaved Fibonacci retracements

These Fibonacci levels are redrawn every time a -23.6% line or 61.8% line is broken. On this 15 minute chart the fibs are based on 120 minute bars to reduce the noise of the 15 minute time frame - blue arrows show when fibs were redrawn due to a close beyond the green or red lines of the prior set of fibs. Based on past observations, price will likely cycle ...

markyoung markyoung USDJPY, 1440, Short ,
USDJPY: USDJPY Fibonacci-based Short entry
62 0 5
USDJPY, 1440 Short
USDJPY Fibonacci-based Short entry

* demo account trade * Short entry at -23.6% retracement of a rolling Fibonacci pattern generated automatically. The Fibonacci patterns are calculated using Weekly bars, overlaid here on a daily chart. Supporting signals are overbought RSI and candlestick patterns. If price drops to 0% line stop will be moved to breakeven. If price breaks below 0% line, target is ...

markyoung markyoung GBPUSD, 15,
GBPUSD: Watching GBPUSD's well-behaved Fibonacci retracements
40 0 4
GBPUSD, 15
Watching GBPUSD's well-behaved Fibonacci retracements

A simple rolling Fibonacci pattern redrawn every time a bar closes beyond the green line (-23.6%) or red line (61.8%) retracements. Potential trend-following entries would be at the 50% line, counter trend at the -23.6% or 0%, with oversold/overbought confirmation from the RSI This Fib pattern is calculated on 120 minute bars and overlaid on a 15 minute chart. ...

markyoung markyoung DXY, M,
DXY: DXY 61.8% long-term retracement
50 0 4
DXY, M
DXY 61.8% long-term retracement

Just an observation - this month DXY has tagged the 61.8% retracement from the 2001 highs to 2008. DXY jumped from the 50% to 61.8% in the past two months, also recently overbought on the monthly RSI.

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