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MickMason · 10-09-2006, 10:15

Nat, I can see where you're getting 61.8 from but you lost me on the 161.8 confluence?

Personally I would have taken the 17/7 low 1.8175 to 8/8 high 1.9142, 61.8 at 1.8550, then the 18/8 low 1.8774 and 31/8 high 1.9090, 161.8 1.8580, close enough.

Having said that, if we retrace from here 50% to 1.8850, 161.8 lines up nicely with 61.8 and your 1.8490 for a long and high 1.94.

I guess first we need to get past 1.8775!

Mick

10-09-2006, 10:15	#17
MickMason Fibonacci KISS trader! Join Date: Apr 2004 Posts: 3,788 Downloads: 0 Uploads: 0 Rep Power: 0	Re: GBPUSD Discussion Only Nat, I can see where you're getting 61.8 from but you lost me on the 161.8 confluence? Personally I would have taken the 17/7 low 1.8175 to 8/8 high 1.9142, 61.8 at 1.8550, then the 18/8 low 1.8774 and 31/8 high 1.9090, 161.8 1.8580, close enough. Having said that, if we retrace from here 50% to 1.8850, 161.8 lines up nicely with 61.8 and your 1.8490 for a long and high 1.94. I guess first we need to get past 1.8775! Mick