Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Im leaving for Sarasota Saturday afternoon for a few days, then i depart back to the UK monday night (emotional)
Ill be back soon, i might come over here after x-mas on a 6 month visa......lets see what the new year brings
Would be good to meet you before i leave though!!!!!!!!!!
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
I am hesitant to place a resistance zone so close to the possible upside breakout of this trading range, but the tight range of confluence from so many directions is hard to ignore. I have an overlap of at least 6 fibs from 3 timeframes.
The current high of the range goes back to a major low pivot from February.
I have struggled with choosing between the RTH and ETH high for the daily fibs for awhile, and the RTH creates a tighter zone towards the lower half of the zone, topping around .15.
To give some idea as to the tightness, this is the same chart from a more distant view. Notice the major breakdown initial resistance also coincides...
Going with the theory that price is approaching a possible major decision point, it would suggest the trading range is not coincidence, but possibly an attempt to exit in advance of the top?