BIG RALLY BREXIT BULLSH*T and ADVANCE TRADING IDEAS
This is 5min Hang Seng Chart because I am too lazy looking for Forex Example.
We learn about magnet and stuff using fibonacci and TMA and here is what I found just now.
Instead of waiting the market to create new high so we can draw the fibo, why not projecting the high/low using the fibs???
We know that 62 area is a good retracement magnet before price resume the trend. Exploit this knowledge with this strategy:
- Look for liquidation gap and stop loss spots between the high and low
- Draw the fibs line so the gap and stops area rest nicely at 0.62 zone
- Look at the new made high/low looking for more confirmation if price may reverse from the zone ( TMA, HERD AREA, or Other Oversold/Overbought Indicator)
- Wait for the Price to Reach the 100% fibs area before do the counter trade
- After the trade wait for the price reach the sweet 62 zone to take profit
Source: http://priceactionpattern.blogspot.com/2019/10/big-rally-brexit-bullsht-and-advance.html
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