steves_c

steves_c

Price hasn't touched the daily fibonacci fan and the wave count is targeting the trend line with an ABC down.

steves_c

An ABC Zigzag to hit the daily fibonacci fan trend line.

steves_c

Wave C of an ABC down. Taking a short down to the 4hr fibonacci trend line.

steves_c

Trading this one to the fibonacci trend line. An ABC long in a correction is painful and unpredictable. Let's see how this plays out

steves_c

An impulsive ABC ZigZag is targeting the fibonacci trend line which is my new idea. I've learned trading from the trend line I get stopped out way too many times.

steves_c

The third time in a week I'm shorting AUDUSD , last twice hasn't paid off. This time I've adjusted my fibo fans as I was out a little and now shorting from the resistance of a daily fibo trend line . Second confirmation from stochastic on the 4hr timeframe is showing overbought signals.

steves_c

We've been stuck in a sideways trend since Friday afternoon. CAD has been struggling to break through resistance but this morning it's push through fibo fan trend lines. Stochastic on 4hr was also showing overbought.

steves_c

A break of the support this morning offers a short opportunity to the next fibo trend line to take profit. I expect the support to be re-tested before it drops further completing wave C. The resistance should also act as a barrier for my stop loss.

steves_c

I'm back shorting the Aussie. There is no support on the 4hr fibonacci trend line which is why I got in. I'm planning on trading the pair down to the next fibo support at target price based on my new trading plan. One of the reasons i think this pair hasn't moved is that a lot of traders are getting in based on Elliot wave theory, as price is sitting at 61% on the...

steves_c

Shorting from 4hr fibonacci fan, using this as my S&R. This provides a set up to fall in line with the continuation down.

steves_c

This strategy has taken me months to develop. over thousands of hours analysing charts with a non bias opinion to come up with it. However, today is the day to start testing what I'm calling continuation Fibonacci support and resistance trading. The strategy is fundamentally based on Elliot wave however it's too subjective to day trade for me. Therefore I'm using...

steves_c

An ABC long to hit the daily fibonacci trend line.

steves_c

An ABC ZigZag down riding wave C. All the candles since Friday afternoon showing corrective nature. This indicates impulsive waves are short. I think in the short term this is a short for the next couple of days and then we're looking at a long given all the bullish moves the past two weeks.

steves_c

The Euro has been sliding for the past week due a strong dollar and it doesn't look to be letting up. All EURUSD price action to the upside is corrective letting me know that the impulsive waves are still short. A flat is taking shape, so I'm looking to ride wave C to the target price. With limited resistance in the way of fibonacci trends lines it could drop...

steves_c

A complex correction over the past day or so has not been easy to get a trade out. With the dollar strengthening I think the Aussie has more room to drop due to the ABC correction formed.

steves_c

Resistance hit after an expanding flat to complete corrective wave B. A reaction and impulsive waves forming to the downside provides another short opportunity for against the dollar this week.

steves_c

An ABC ZigZag has formed at the top of the daily fibonacci trend line. This provides a short opportunity to ride wave C. There is a reaction of the 61% fibo but with the Yen it can often play games, so my stop is above the resistance. If price brakes through the trend line, this trade is invalid. All going well I'll be looking to hold this to close of play Friday....

steves_c

Shorting at a Fibonacci trend line resistance. Second reason is attributed to Elliot wave. There is no 5th wave of the ABC zigzag.