Gold H1
I got it all wrong by not seeing the pin bar context.
In the chart in the post above, the Pinbar was not below a resistance region to be a rejection, it should be below the daily pivot point at least.
Here in this graph the range in the weekly pivot point region, the pinbar must also be close to and below the weekly pivot.
And most importantly, high volume in the down bars, indicating accumulation.
In other words, the market is strong, they are buying hidden, and it should rise further.
I say strong and rise in the long run, the pivot point is weekly, you can make a connection between the weekly,and the daily.
The indicator I posted was the one I thought was best for VSA, but the signal cannot be taken without seeing the whole context is just a help.
See the uptrust that occurred both in the very strong daily resistance which is 0.382 fibo, and in the weekly pivot.
It is a false sign of continuity that breaks the resistance in this case upwards.
Hi, I have a query on using multiple targets. Do you use multiple trades with same SL and different TP levels or use the same trade and keep updating your SL level?
I got this forum, I thought it was very good. https://www.mql5.com/en/forum/177776 Fibonacci retracement is fundamentally based on a single number, which is Golden Ratio 1.618 or 0.618. <--- (1/1.618 = 0.618 .just from different side of perspective) This single magic mysterious number does all the trick and covers the entire Fibonacci numbers or Levels. 0.618x0.618 =0.382 0.382x0.618 =0.236 0.236x0.618= 0.146 So, here is the full sequence of Fib numbers(levels) from 0.1 to 1.0 0.146 1- 0.854 0.236 1- 0.764 0.382 1- 0.618 0.5 mid point...
Ignored
Hello Sorobanista, thank you for posting this because I am currently focused mainly on 23.6, 1.236, 2.236 etc. as major points based on my personal studies. I have a bit of an Elliot Wave understanding and that is what probably assisted me a bit with developing my ideas. I saw you mention Murray math and chuckled a bit because I used to chat to the old chap some years back and found him interesting. Anyway, will start reading your posts to see how you look at it from a mathematical point of view because I dont have a math background but im highly creative and that makes me see things differently.
My optimism is weak I will wait. You should test until consolidation for a target below up to 2,618.
Below the average of 200m 50 and 20 it is not good to buy.
The price near the opening is always doubtful, in addition to a lower top.
The safest thing to do is to leave at 2.618, because it often goes straight back from that level, or uses the level between 2.618 and 300 to consolidate and continue in the same direction. Going to 300 and back is an exception, despite being the famous 2 to 1. The accuracy is impressive.
It was all December accumulating now it should reach 200 of the monthly pivot point and the level of 2,618.
Now I think you should make a correction to the trend line and go back up.
It also corresponds to the annual pivot level of R618, which is level 200 of the weekly wave.
It came very close to the level of 200 fast, I expected at least until Friday.
If you use the top and bottom of the consolidation of the previous day, you reach 2.618 well marked by XM.
By fxopen ECN did not score level 2.618 as well.
The flat level of the cloud (1,459) serves as a strong magnet, but it has already come close to the end of the cloud, as Chikou has already gone up the price should continue.
Before a possible continuation it is clear that it corrects and must return at least until the beginning of the week, which is the same as the level of 200.
An interesting method, renko with Ichimoku and Heiken.
It arrived at the opening of the week, I had said it beginning by mistake, I believe it will still rise quite a bit, but it is in the correction.
This correction is aimed at level 200, for partial or closing or possibly the average of 200 of H4, which will be close to level 2.618.
As the bank makes 1 to 2, it reached exactly the level of 300 and corrected it, but it will go further down to 400, which is the level of 200 mentioned in the post above, of the main projection..
Curious that at XM it was at the level of 2,618 and in the post above the FSOpen ENC was at 300 the same projection.
When in doubt I always go for 2,618.
I put gold here because that's what I've been following, but it's a very precise example.
As of last week it was at the 300 level, now closing this Wednesday with interest rate news, it closed exactly at 2,618 gold. Now it only remains to go up on Thursday and Friday, I don't think it will go down anymore.
I always find the market creators' precision impressive.
