I am watching this idea to see if there is validity to it.One can never stop learning.
http://www.forexfactory.com/showthread.php?t=449489
So I downloaded the indi measured yearly low and high and drew a 50% mid point as base line.
You can read the details on the thread.Based on this theory if price breaks upper box 76% it will reach 50% and if it does break 50 price will reach 23 at 5727
So far so good.His idea is S/R levels are predetermined.Fresh thinking.
I may lower my shorts TP
I recalculated and 1.55 is 50% mid point as base line which makes sense to me.
according to theory price should of turn around at 6460's but overshot by another 220pips up hmmm and abruptly came back to upper baseZone
76fib is at 6237 which is interesting area because if you look to your left you will see price touched this area repeatedly
I drew a green box for clarity.
What attracts me about this concept is that markets shifts at roughly 1000pip points.
http://www.forexfactory.com/showthread.php?t=449489
So I downloaded the indi measured yearly low and high and drew a 50% mid point as base line.
You can read the details on the thread.Based on this theory if price breaks upper box 76% it will reach 50% and if it does break 50 price will reach 23 at 5727
So far so good.His idea is S/R levels are predetermined.Fresh thinking.
I may lower my shorts TP
I recalculated and 1.55 is 50% mid point as base line which makes sense to me.
according to theory price should of turn around at 6460's but overshot by another 220pips up hmmm and abruptly came back to upper baseZone
76fib is at 6237 which is interesting area because if you look to your left you will see price touched this area repeatedly
I drew a green box for clarity.
What attracts me about this concept is that markets shifts at roughly 1000pip points.
In trading, you have to be defensive and aggressive at the same time