DislikedIntroduction of T5_103F Template Its time to introduce one of the templates that is very useful for short-medium term trading. Length of each phase= 103 pips RULE: Break of 38.2% Level -------> Target 47 pips Break of 61.8% Level -------> Target 47 Pips We can say 38.2% is broken when price is traveling from 76.4% of lower phase and rises 7 pips above 38.2% level of current phase. We can say 61.8% is broken when price is traveling from 23.6% of upper phase and falls 7 pips below 61.8% level of current phase. The baseline and the template is valid...Ignored
i confused with the rule of Break of 38.2% Level -------> Target 47 pips. You said that 38.2% is broken when price is traveling from 76.4% of lower phase and rises 7 pips above 38.2% level of current phase. But In the picture , areas, labeled 1 , the price has travelling from 76.4% of upper phase...??? And the 47 pips target count from where..?
Please more explaination for me.
Thx.