seems like its done going down and has been going up for quite a while.. be careful..spillini wrote:Dam guys, I am still liking the GBP/CAD even though it is flirting with the 240. As you can see I am scaled in pretty good here. Let me explain please: I am a firm believer in Fibs and when I put it together with Bobs system, I get another insight into a pair. Check out where the price touched. It went to 61.8% level of the 4 hr move from 4/25 to 5/13. An 18 day move that is ripe for a short. Thus, My stop was left out until I could see this price break that fib level. It turns out that I may have been right. Hope this helps explain why I am staying in past the 240. You see, I consider the 240 as an area and not just a line.
PS, sometimes you just have to grow a set and go for it...LOL
2nd chart is a close up.
Jim
CSS also seems to confirm this
