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Author Topic: TA Forex Trading  (Read 16077 times)

Pennies2007

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Re: TA Forex Trading
« Reply #3450 on: July 27, 2017, 09:38:03 am »
Here's another example, Jav. The UJ daily chart.

From the absolute highs, price broke down below the 1st box. It ran to almost the bottom end of the 3rd box. Then, price reversed and came back to retest the bottom of the 1st box again.

The reason we see these types of patterns is because, contrary to popular belief, the market is not random. Price movement is psychological and, just like our bodies all the way down to the cellular level, everything runs according to a basic mathematical system. Think of it as an algorithm.

That's why I'm very fond of using fib expansion levels rather than plain fib retracements. Remember when Git was programming MT4 code on the board at IHUB? He was constantly working with math based rules to try to figure out the market movements using Gann theory, ZUP math patterns, etc.

But Gann theory, at least to me, is too complex to be of any use to the everyday trader. I settled instead for a slimmed-down version that relies on fib expansion levels and 100% extension runs, like the box method. I applied that to my TDI wave counting method and I started seeing much better results as a whole.

UJ daily chart example...


 

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TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm