Leading indicators and shall be used with other indicators to qualify or disqualify trades.
Why I'm using these two fibs in this analysis..?
1) FIbs Retracement - where to enter the market at discounted price.
2) Fibs Extension - where to exit the market at the highest probability prior to reversal.
What we can see from this chart?
- price actions in sideways
- sweet spot to entry between 2401 - 3187 pts.
- most likely price will bounce and hopefully continue in the uptrend direction.
- if it manage to break 4458 pts, it is time to project good take profit levels.
As always, be sure to back-test any new trading techniques before adding them to your live trading system
All the best!
Regards - Sifuut siduuut
Why I'm using these two fibs in this analysis..?
1) FIbs Retracement - where to enter the market at discounted price.
2) Fibs Extension - where to exit the market at the highest probability prior to reversal.
What we can see from this chart?
- price actions in sideways
- sweet spot to entry between 2401 - 3187 pts.
- most likely price will bounce and hopefully continue in the uptrend direction.
- if it manage to break 4458 pts, it is time to project good take profit levels.
As always, be sure to back-test any new trading techniques before adding them to your live trading system
All the best!
Regards - Sifuut siduuut
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