Cable Update (GBPUSD)
{quote} Symmetry does happens a heck of a lot of times but mostly finding the correct form is extremely difficult to predict ahead of time. Look here at the pattern for yesterday. BA is the swing from low to high and CD is parallel and of the same distance. So the difference is the distance BD and that is where the price ends up in the range BD. {image}
Finally, bullish time is come ...
{quote} Hi, I usually only use significant highs\ lows and on a longer time frame but it does exist on all. I see you are on 1min frme? I have drawn some sym lines on the 5 min chart below and you can see we are currently looking at a possible significant low around 1.2666, this gives a target around 1.2752 area. The critical levels depends on your risk tolerance ect but for the sake of clarity the high at B could be your stop area. Of course if it travels below the low at B we don't have symmetry
{quote} Hi, I usually only use significant highs\ lows and on a longer time frame but it does exist on all. I see you are on 1min frme? I have drawn some sym lines on the 5 min chart below and you can see we are currently looking at a possible significant low around 1.2666, this gives a target around 1.2752 area. The critical levels depends on your risk tolerance ect but for the sake of clarity the high at B could be your stop area. Of course if it travels below the low at B we don't have symmetry
Looks like more shake 'n bake for a Freaky Friday
{quote} again n again
easy profit mate
{quote} Cool very good. I understand the significant low but how did you determine the mid point. I could guess that you took the mid point to be the range price was trapped in and a break either side of that range would create the target area equal to 2x bottom to mid.
