Know where to buy and sell
Know where to know you're wrong on a trade.
Know where support becomes resistance
Know where resistance becomes support
Fibs and Fib extensions used. Extensions have black dashed lines.
Rare double 100% Fib extension lines up significantly close to each other.
Areas of support resistance were marked only in areas where 3-4 fibonacci levels came in a range that are close enough in proximity to each other to deem in a significant level.
Any outliers were special support/resistance levels.
Special levels are levels that are significant in their own right.
These levels include:
- All Time High/Major High
- All Time Low/Major Low
- Middle of a Trading Range
- Where 2 fib extensions have confluence support
Follow this for the next 2-3 weeks before entering a trade and assess if you're right or if you need to be patient.
Note to self
- YITB
R Hanni
4.20.18 :)
Know where to know you're wrong on a trade.
Know where support becomes resistance
Know where resistance becomes support
Fibs and Fib extensions used. Extensions have black dashed lines.
Rare double 100% Fib extension lines up significantly close to each other.
Areas of support resistance were marked only in areas where 3-4 fibonacci levels came in a range that are close enough in proximity to each other to deem in a significant level.
Any outliers were special support/resistance levels.
Special levels are levels that are significant in their own right.
These levels include:
- All Time High/Major High
- All Time Low/Major Low
- Middle of a Trading Range
- Where 2 fib extensions have confluence support
Follow this for the next 2-3 weeks before entering a trade and assess if you're right or if you need to be patient.
Note to self
- YITB
R Hanni
4.20.18 :)
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Using the "zoom" feature on the far right hand side by prices by clicking and pulling it up or down to widen the picture is helpful to get a less 'busy' chart.
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Came into that 2nd fib cluster support which held nicely. Not as solid of a bounce out of it as I would have hoped for a long position though unfortunately.
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Reached important resistance zone.
PSA
PSA
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Rejected Perfectly
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Tested a 2nd time, same level.
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Going for a 3rd time.
Wish I would've moved the red lines further to the right out in time.
Didn't expect the market to move sideways in a 40 point range for 3 freaking weeks though after the 200+ moves we were getting before.
Wish I would've moved the red lines further to the right out in time.
Didn't expect the market to move sideways in a 40 point range for 3 freaking weeks though after the 200+ moves we were getting before.