that indi will show the level like 50% ,61.8% soorry that stupid question,newbies in forex
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Dislikedthat indi will show the level like 50% ,61.8% soorry that stupid question,newbies in forexIgnored
Dislikedfising, how you trade the fibocal indicator in your previous post?Ignored
DislikedHi guys...just my personal view....
see..TOday Gj failed to break .... EMA50 at H4 chart....See no power momentom to GJ now....i believe that GJ continue .....Brearish Trend...just my opinion...my be....gj try...Break A bottom price 203.45... Critical price bearish strong...204.71...
just my opinion.:
Ignored
DislikedSome good info for all of u
in some Harmonic Trading book, they mention 0.786 or 0.886 using Root calculation etc.
I think these are rather Artificial manipulation of Golden Ratio, and I have no idea why they insist such numbers instead of employing the simple Fibonacci sequence.
You see 0.786 is close to 0.764 and 0.886 is close to 0.854.
This difference doesn't mean much, so why don't you use simpler ones?
The real simplicity from the Golden ratio appears on the sequence list I shown first.
So, I totally ignored these artificial numbers according to their book or site, and instead, employ simple Fib numbers.
Actually, For Gartley Pattern.(in the chart above)
If
XAB =0.618
ABC =0.618
BCD = 1.618,
XAD = 0.854 (= 0.236 + 0.618) !!
not 0.886.
Harmonic patterns behave like this, if you set up a couple of Fib ratio for each reteracement, Automatically, another Fib retracement ratio show up. That is why this pattern is called as Harmonic.
You can do math or using MT4 Fib line tool.
Again, as long as you stick to pure Fib numbers, since Golden Ratio would repeat itself, whatever you manipulates among Fib numbers, the result is Always on Fib numbers.
That is the beauty.
However, once you include the other biased fib numbers such as 0.886, it will be broken __________________Ignored