Online trading on Wave Theory (NIROBA method) - page 140
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You look at how last year's 1.5 was passed, didn't even falter, and why are you putting so much emphasis on that level this year?
Well, it's simple. As I understand it, you are referring to the downward movement. Considering that these are slightly different situations, as markets collapse under "their own weight" and break strong levels downwards is much easier than upwards. Rather it is worth considering not just last year, but the interval from 23.11.2007-26.02.2008...
The environment has changed, but the numbers haven't.
And they trade more on ambience than numbers :)Well, it's simple here. As I understand it, you are referring to a downward move. Considering that these are slightly different situations, as markets collapse under "their own weight" and break strong levels downwards is much easier than upwards. It's more worth considering not just last year, but the interval from 23.11.2007-26.02.2008...
That's right, you could look at it that way. But I think 1.49 is stronger than 1.5
And trading more by ambience than numbers :)That's an interesting approach. How do you measure the environment? :)
That's right, you could look at it that way. But I think 1.49 is stronger than 1.5 now.
You could do an experiment like this. Put the Fibo on a few previous local lows-maxims on different timeframes. What will we see? The price goes right between these lines, or hits them, or the candlestick closing prices lie on the Fibo lines more often. It means that everybody chooses different levels, but as there are a lot of traders, there is a great variety of significant levels. But the psychological level 1.5 is understandable and significant for everybody. :).
That's an interesting approach. What do you measure the environment in? :)
Clearly a basket of currencies :)There are sanitary hatches, there is also a car hatch, and we don't know what the hatch was thinking either...
There's a hatch in the tank too, and what Shariq was thinking too, we don't know...