Hi
While studying my charts I notice that quite often retracements will happen that are almost identical to the previous retracement in a trend. You could be in a down trend and the market will retrace 100 pips up, followed by a further drop and then the next retracement could again be almost identical and approx 100 pips again.
Does anyone know of any indicators that work with this principal and give a graphical representation of this?
many thanks
While studying my charts I notice that quite often retracements will happen that are almost identical to the previous retracement in a trend. You could be in a down trend and the market will retrace 100 pips up, followed by a further drop and then the next retracement could again be almost identical and approx 100 pips again.
Does anyone know of any indicators that work with this principal and give a graphical representation of this?
many thanks