In the previous Idea, I made a welcome to buy, and it did go up, but trade hit Break even, later on, as well a decision was made to close all buy's
I was so sure we will tag 1474 but didn't happen with a crazy failure at 38.2 which in the Fibonacci world is the best reversal point for all prices.
With this failure, we need to travel 2 Fibonacci Rooms lower.
I never liked 1346 and always had that in mind, and seems it may become a reality.
For those who understand:
Room Size 59 /39
Gold route by Fibonacci = 0000.59
Sentiment = High - Low / 4.5
38.2 = High - Sentiment / 4.0
Direction = 76.4
23.6 = (High + High + Low) / 3.0
76.4 = Sentiment / 2.0 + Low
Base = (High + Low + Close) / 3.0
R1 = Sentiment + 0.382 * Close
R2 = High + 0.382 * Low
R1_4 = Direction + 0.618 * 1.1/12
1346.9 < Keep this in mind and be careful, trade according to your strategy.
If we do hit 1346.9 then from that area you may see a strong reversal, depends on at what F level the price will fail down there. As long as 38.2 down there is not touched reversal will be welcome.
I was so sure we will tag 1474 but didn't happen with a crazy failure at 38.2 which in the Fibonacci world is the best reversal point for all prices.
With this failure, we need to travel 2 Fibonacci Rooms lower.
I never liked 1346 and always had that in mind, and seems it may become a reality.
For those who understand:
Room Size 59 /39
Gold route by Fibonacci = 0000.59
Sentiment = High - Low / 4.5
38.2 = High - Sentiment / 4.0
Direction = 76.4
23.6 = (High + High + Low) / 3.0
76.4 = Sentiment / 2.0 + Low
Base = (High + Low + Close) / 3.0
R1 = Sentiment + 0.382 * Close
R2 = High + 0.382 * Low
R1_4 = Direction + 0.618 * 1.1/12
1346.9 < Keep this in mind and be careful, trade according to your strategy.
If we do hit 1346.9 then from that area you may see a strong reversal, depends on at what F level the price will fail down there. As long as 38.2 down there is not touched reversal will be welcome.
Comment:
As mentioned in GOLD / Entry idea, not safe to enter buy as rules for the down move are broken. Look 1413 and how it works for buy
Comment:
Not safe to enter sell*