One of the concepts I am a huge fan of is harmonic points of support and resistance. I like to look at the market as if it we're 3 dimensional and like a puddle of water. Each major level of support or resistance is said to be harmonic as if you threw a rock in to the puddle and create a ripple. The ripple keeping a course while continuing to spread further and further - just like life and evolution. The market is the heartbeat of modern day society affecting so many us in ways most cannot fathom.
I found a harmonic line within the gbp/jpy that I thought might be worth sharing. It has come to the final point of it's current harmonics so we'll see how the market will be afftected going forward.
If you are unfamiliar with my harmonic levels I'll attach an old euro chart to which has unfolded beautifully within the confines of it's harmonic level. Please note that these are looked at more of zones of opportunity and aren't trendlines. They have turned out to be great indicators for support and resistance and when broken become their alter-ego.
cheers
I found a harmonic line within the gbp/jpy that I thought might be worth sharing. It has come to the final point of it's current harmonics so we'll see how the market will be afftected going forward.
If you are unfamiliar with my harmonic levels I'll attach an old euro chart to which has unfolded beautifully within the confines of it's harmonic level. Please note that these are looked at more of zones of opportunity and aren't trendlines. They have turned out to be great indicators for support and resistance and when broken become their alter-ego.
cheers