Disliked{quote} Great use of some Planetary analysis. I'm not sure how you are applying the trade setup in terms of stops and targets though as I do not see say 1 to 2 octive Gaps for your SL and at least 2 to 4 Octive Gaps for your target. If you are setting up a shorter duration trade then use either the Auto levels or better yet the Manual levels and simply trade between 2 to 3 of the D1 TF Octives. OPL_8 is set to the higher D1 Octive (whichever you choose). OPL_0 is set to the D1 Octive say 2 to 3 octives below the OPL_8 choice. This translates directly...Ignored
Thank you for your response. There are some factors which led me to my decision to go bearish
Fibonacci: I drew out the Fibonacci retracement levels and figuring that the trend IS going down to perhaps the Fibo 78.6. It passed the 50.0 & the 61.8 thus going on to the 78.6.
Gann Fan:
Created by William Gann, as you know are a mathematical and geometric approach at developing a trading strategy for the Forex, stocks and commodities market. The basics of the use of Gann lines and angles are:
(1) Consideration of price, time and range.
(2) The cyclical nature of the markets.
(3) The geometrical nature and behavior of market prices.
I have done allot of research on this sophisticated tool which comes...as you know standard with Any trading platform- this I wanted to see if me conformation is correct with the status of my trade.
I am studying planetary-time cycles which is one aspect W.D. Gann has noticed through out his trading career.
There is so much to learn and explore and Thank you Masterrmind for your insight and efforts in making us Better Traders!
Best regards,
Jeff ......
Happily Married to MY College Sweet Heart!