Hi,

Forex noob here, been demoing for quite abit but mostly unsuccessful (hovering around break even), due to work, inconsistency ..etc etc. Is this the right place to post charts? Need some feedback on the trades i've been taking.
Anyhows, here is a chart, looking to go short, resistance at 61.8 fib level



Euro/CHF

This post has been edited by nezzy: Feb 13 2011, 10:07 AM

normally i just go with the most recent obvious peak

doesnt look like much of a peak ?

Easily visible, normally i just choose the obvious peak and bottom, draw the retracement and look for exhaustion at support/resistance levels and if there is a suitable price action . Works pretty well for 38.2 and 50 so far but been messing around with other trades.

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Added on February 13, 2011, 1:19 pmhave i gotten the fibonacci levels drawn wrongly? should i use the Oct peak instead?

This post has been edited by nezzy: Feb 13 2011, 01:19 PM