Starting it off.

Al

Nice reaction so far.
One more thing, apart from the lines, which made me think about shoirting at this level.

Paper traded options on CMG (call), LUV (put), MU(call), and V(call). Fibos measured for most cases, from gap boundaries, and I tried to compare those with fibos measured otherwise, from adjacent highs and lows. Discussions follow each chart.


Had some patience, but CMG was moving up strongly, and I chased price. Made a bit. No fibo work on this one.


Broke my paper trading rules on LUV and did not patiently wait for a pullback. I traded what I thought instead of what I saw. Lost on this one. It looks like overlap between 0.618 and 0.382 fibo retracements.


A did a little better on this one -MU- and waited for a pullback, but still lacked patience entering and exiting trade. Made a bit here.


Did better on this one -V- and made some. The 50% "fibos" match a little.
Al :--)

May be in above, for V, 0.300 on Gap-boundary set overlap with the 0.382 on the other fibo set based on adjacent Highs.

Al :--)

1.3850 hit, finally! Watchout here.

It's dropping nicely, almost 200 pips from yesterdays resistance at 1.4020-30.
My next level is around 1.3750.

Cable hit upper boundary of the area posted above. This might be it.

There are some buyers there for sure. I wonder if they are going to buy more Pound on US CPI and GDP data release, which is going to take place 3 minutes from now.

If this reaction is going to continue (it's not actually triggered yet) 1.3880 and 1.3910 will be of great importance, I guess.

Paper trading. Nice setup for a CALL in GT, but I was impatient. I got in before the pullback, and got out at breakeven - a wash.




Al

Fibo on the GT.




Al

Marcin and rat,

Great work!

Happy Trading,

Albert