As always, let’s check what was going on during last week. GBP/JPY went down really hard. Support at 164.5 did not hold and the price went down. It stopped at 161.8% extension, which was rather easy to spot from 1h or 4h charts. Below 4-hour chart: Anyway, thanks to the strong trend it was not […]
Another interesting week behind us, with a twist at the end. Eur/usd did not give good trade opportunities. It was flat most of the time. It failed to even try to break above the cloud and 1.10 level on a daily chart which I was writing about in last week summary. Now it looks like […]
After this interesting week, lets check the current situation. Eur/usd is bullish lately. For now it is fighting with resistance at 1.10 (and the cloud) which can be see on daily chart (it is where 0 Fibo line): If eur/usd will brake above 1.10, then it is possible that the move can go up to […]
I thought that correction on GBPUSD will be longer. It looks that I was wrong. I was watching gbpusd on 1-hour chart and decided to take short position. Move up ended near 3 important areas – 200 SMA, 78% retracement from most previous move, and 38.2% from the bigger move. I marked it on chart […]
GBPUSD is bearish since few months now. Since November this pair was trying to rise, but it was stopped at Fibonacci retracement levels. Now it is struggling to hold above support at 1.53. Lets watch how it is going to play out. Strong break below 1.52-1.50 should bring some solid falls. Also check out how […]
Welcome to fibotrading.net. I trade mostly Forex with Fibonacci tools. I like trading, but I also like to write about it and teach other people. That is why I started this blog. Need any help? Contact me.