Big Picture EC and An Early Trade for The week.

EC sits in a tough spot.   The good news is when big fibs all get close together it lowers risk.   The bad news is it tends to break one or the other several times and when it does it snaps.   So here we are stuck in between 13173 and 13219.  The home team has trouble here and it would seem 13173 with 13169 close by is in the bag again and probably 13139.   a break through 13139 is going to yield 13078 but 13139 will not go away easily unless there is some kind of big news.   If we weaken overnight i would assume we get a bounce off of 13169.

To the upside a break through 13219 will head after 13295.

We are probably going to bet a little bounce here as everybody decides what to do.   Something like 13210-13215.  I'm already short but will add at 13210 if we get it.  13169 is in the bag by the time the Europeans get to trading so if you want 40 to start the week off get to work.  And if your really frisky tonight pair that trade up with short cl.  As the euro falls so will cl.  Currently we are in the 10382 ish range but the 10339 fib will be hit for sure and with just a little luck 10330.  I have paired the two looking for a good start to the week when Europe shows up and drinks their coffee.  And if you are downright giddy may as well go long the 10 year.  The two extension fibs you are after are 131294 and 131304.   I would cover on the first one or at least lock in your profits there.

EC Long Term Fibs 3-7

It Crashed and burned running into the 50% Retrace Fib at 1.3452.   Looks like it could be setting up for a run at the next biggest fib on the board 1.3067.

EC At Some Pretty Big Long Term Fibs Here

EC Marched right up to the 38.2 smaller weekly retrace and now hangs (literally  as I write this its at 1.3440), on the bigger 50% retrace.  And as you can see from the chart has moved in a range sitting right between the two, not at all uncommon as the two magnets pull form different directions.  So obviously one of them will win question becomes is our next really big level 1.3632 or 1.3248.  But odds are at these kind of long term fibs we are gonna get a big ass down.  When it breaks which ever way it does will be your signal and its gonna be hard and fast.  And dont think 1.3000 is out of the question.

EC Prominent Fibs Morning 2-23

127% was a gift short.