EUR

ya im goin to stop for awhile at looking @ charts my fib tools are basic @the platform, i need better tools like fib trader ect...going to look into this afternoon,but the way it is now im kinda confusing myself removing old fibs and then loading new fib..anyway ttyl:)

break below 4080 could see deeper correction to 4040/50... only break below 4000 would likely signal resumption of downtrend....

iggy and dave.... not only good traders... but pure gems as a person... perfect model and example of how to trade and live... really a pleasure to be a part of you guys...

iggy.. you're still young to say things like that... :)

Chloe on the H.1 there are 5 candles in the perceived B wave. Less than 2 one hour candles would be difficult to read but drop down to lower timeframe to see pattern, say 15 min or if ya only looking at 2 x 60 min candles try 3 or 5 min.

As a general rule you should be monitoring this sequence of timeframes if you were trading US day session in stocks for example. Daily, 60 min, 15 min, 3 min. This sequence approximately divides by 4 or 5.

So if you are trading the 60 min timeframe for day session stocks you need to be aware of the daily chart position and use the smaller timeframes for looking inside the 60 min candle patterns.

US day session NYSE is only 5.5 hrs whereas forex is 24hr. Therefor it makes sense for skipper to be focusing on his 4 hr model with his smaller timeframe to look inside, the 60 min. You will be starting off trading the smaller timeframes because 4 hr model means wider stops and morre slippage on the exits. This is why skipper will often revert to his 60 min for intricate trade management to reduce the amount of slippage or stop spacing his 4 hour model requires. This comes down to years of developing a "feel" for the markets he is trading.

1 hr 4180 tunnel.....magnet mho