Sunday, 22 May 2011

New bearish extension

After a weekly break out of lower trend line and a small corrective move we are heading for new bearish extension.

The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:

1.4399 - 61.8%
1.4233 – 50%
1.4066 – 38.2%
1.3860 – 23.6%
1.3527 – 0%

If you have any questions please do not hesitate to contact me and  remember to subscribe for more forex news.Tomasz Gdynia


  1. why is everyone's post removed? lol

  2. Thanks for the info, glad I invested most of my cash in silver

  3. This looks and sounds very interesting, but would you mind explaining it a little more?

  4. This post has been removed by a blog administrator.

    lol jk

  5. Is buying individual stock a better idea than buying into a mutual fund? I'm not looking to make thousands here, just turn a decent profit

  6. Sorry all looks like i have removed allot of post, don’t know how this could happen.

    The Wired: no its not better to buy individual stock because you will be dependant only on one firm where as if you buy mutual fund that is made of multiple stocks even if one firm goes bankrupt that will be only 1-3% of your total portfolio. This is called idiosyncratic risk and it can be eliminated by diversification

  7. Hmmm... Can you explain me how did you get the percentage results?

  8. Lol, you have some interesting posts. Still need to make sense of some.

  9. But diversification has its own drawbacks, such as less money into each stock. I think investing largely depends on the amount of money you have available. If it is a smaller amount you might be willing to gamble more, whereas if you have large amounts of money and just want security you would buy into a big, safe company (Apple, Google, etc...)

    I find capitalist markets interesting. Especially in the sense that people try to keep it going despite its fundamental flaws and the fact that it is not a scalable system of economy.

    However, I find your work interesting and will read more on the Fibonacci Retracement.

    Following and supporting. :)

  10. Hmm. Now I get it.. I just had to read this..

    "I am a final year university student working towards an Honours degree in Economics."
    That's why this is so hard to understand. :P

  11. Wow, I can barely understand it but it's interesting.

  12. Regardless if you have a little bit or allot of funds you should still diversify your portfolio. Even firms like Google or Microsoft may have some trouble; it is always safer to buy more firms. What are the chances that Google will lose on value? and what are the chances that Google, Microsoft, yahoo, and 5 other firms will lose on value in the same time? Obviously much smaller. By doing these you can eliminate some of the risk. Unfortunately if the whole market will crash there is nothing you can do and that is called systematic risk. Regards,