GBP/USD HAS BEEN BLOWING THRU TARGETS SO WE CONTINUE TO TRAIL PRICE LO TO LO. PARTICIPATION OFF THE 50% SHOWN ON THE CHART ABOVE WITH UNFILLED TARGETS ON THE -.236 & -.618
AUDUSD HAS BEEN IN A MAJOR BEARISH TREND, IT HAS BEEN BLOWING THRU TARGETS OVER AND OVER. NOT GIVING US A TRADITIONAL HI TO LO FIB PLAY SO WE TRAIL PRICE WITH EXTENSIONS LO TO LO. PARTICIPATION CLEARLY SHOWN AT THE 50% FIB WITH TARGETS ACHIEVED. I WILL CONTINUE TO TRAIL PRICE WITH FIBS UNTIL I SEE PARTICIPATION AT A FIB AS WELL AS A COUNTER TREND LONG BROKEN (61.8%)
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...
