A fibo expansion is a standard tool in mt4, you may need to right click on the tool bar and customize it to see it.
You just drag one point to a significant low, another to the high of that low and the third to the low of the high. It then gives you 3 lines as possible breakout areas. You can see price stumble a little at these areas before either breaking through or failing.
The Chaikin oscilator shows you how much volume is in the market at these points. Obviously the greater the volume of buyers in an up trend will force price to break resistance levels and visa vi. The bottom indicator is also a volume indicator but I prefer the orange line one as it is more intuitive directional wise. You can see that the fibo expansion also works as a rough tp.
You just drag one point to a significant low, another to the high of that low and the third to the low of the high. It then gives you 3 lines as possible breakout areas. You can see price stumble a little at these areas before either breaking through or failing.
The Chaikin oscilator shows you how much volume is in the market at these points. Obviously the greater the volume of buyers in an up trend will force price to break resistance levels and visa vi. The bottom indicator is also a volume indicator but I prefer the orange line one as it is more intuitive directional wise. You can see that the fibo expansion also works as a rough tp.
Starting to see instead of just looking.