The horizontal lines are extremely significant Fibonacci ratios based on the 69D chart. The market attempted / is attempting an MA 3/12 Golden Cross after falling below 3.618. Short targets are given assuming that bulls fail here. Ultimately, this would be a lower high and price will fall to a lower low, precipitating lower and lower price targets. The ultimate...
200 EMA SYSTEM:
- The 200 EMA SYSTEM is very simple and easy to follow.
- It's very appealing with the potential to bring you hundreds of ticks a month.
- Trades with the trend and effectively buys low and sells high.
- Helps identify the main trend - whether the market is going up or down.
Why 200 EMA? Why not use other EMA's like 100 EMA , or 50 EMA or 20 EMA...
