This is a daily continuation chart of the IMM/Globex Euro Currency. The euro broke out above its 2 month consolidation. The Fibonacci Extension levels illustraded represent potential targets. The .618 is approx 14635 and the .750 is approx 14830. The .750 target also lines up close to the hight of September 22 which was 14846 (basis front month).
There are different ways these can be put to use, of course, but one might be that if long these levels could signal a price with which action would be taken. That could include the taking of profits or partial profits or a signal of when to tighten stop protection. This would be the sort of thing we discuss with a client on an individual basis.
Futures and options trading contain substantial risk of loss and may not be suitable for all investors.
No comments:
Post a Comment