I need to re-exam the 3 images. Pure Gold!!
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DislikedThanks FXCyborg, here goes my second attempt. Really tried hard figuring this out almost been 2 hours since my last post.Short-answer: Previous area of accumulation within the previous fibo measured move, now acting as an order block. Only then shoots down/up when it reaches the banking fibo level.
Thought process: {quote} {quote} The pattern is to be found within the move that is used to draw the fibo. Pay attention to what is to the left of the 71.9% fibo level. In All 3 examples: In reference to the move found within the start...
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DislikedHi FXCyborg, Drew the bank fibo levels on the 4 hour chart. Zoomed into the 30 minute chart. To my yet untrained eye there appears to be a long trade from this level. Your comments please {image}Ignored
Disliked{quote} Hi FXCyborg, Thank you for your comments. Could this be the right way to draw the bank fibo then? How exactly do we draw the fibo levels - from top to bottom or from bottom to top? I am a bit confused about that. {image}Ignored
Disliked{quote} Hi FXCyborg, Thank you for your comments. Could this be the right way to draw the bank fibo then? How exactly do we draw the fibo levels - from top to bottom or from bottom to top? I am a bit confused about that. {image}Ignored
Disliked{quote} If you want to find the reversal of something, i.e,. the lowest number goes at the top of the fibo when the trend goes from low to high, so you can see its retracement percentage. You had yours with the higher number at the top to see the retracement of an uptrend. Lowest goes at the top.If its a downtrend, you place the fibo the other way so the lowest number in the fibo tool is at the bottom, this way you can see the retracement percentage on its way back up.
I trust this helps? ATB
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Disliked...Disliked{quote} If you want to find the reversal of something, i.e,. the lowest number goes at the top of the fibo when the trend goes from low to high, so you can see its retracement percentage. You had yours with the higher number at the top to see the retracement of an uptrend. Lowest goes at the top.If its a downtrend, you place the fibo the other way so the lowest number in the fibo tool is at the bottom, this way you can see the retracement percentage on its way back up.
I trust this helps? ATB
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Disliked{quote} Hi FXCyborg, I think I got it wrong again. I read your post 2575. Here is the same chart again. Hope I am right this time around and I hope I am not testing your patience. I am not going to give up. You are the best thing that happened in my life. {image}Ignored