Quoting BobokusDislikedI see that the 261.8 from weekly fibo is the same as the 100 fibo of friday
Is this correct ?Ignored
But, what I want you to see is the dance of the candles within the smaller fibo.
Now attach the Fibo on monday, based on the channel projection and you will see more fibo lines that you can use to see macro candle movements.
The 100 is forming a triangle with the top channel. This is the area that uauaslly tells the momentum will stay or not.
With fibo on Friday, do you see the 100 forming a triangle with the upper channel? This is momentum area, and should it stay in the triangle (monday, with a new fibo), this will tell us that momentum is still strong for GBP.
To get the feel of fibo with channel. Do this:
- Do a weekly fibo starting monday lastweek
- Do fibo on everyday of the week and see the candles breaking and bouncing off the fibo.
- Get to know this pair, it tell a lot about the market sentiment or what the big boys are doing.
- Get a feel of it, and when you can find the rhytm, thats when you have winning trades.
its not luck, its anticipation and skill.
Change Your Thinking. Change Your Life - JD