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How did you get that line as your Fib retrace? When I seem to...

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Mananas

86 Posts.

7

16/03/21

15:17

Post #: 51806969
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Originally posted by W3hunter: ↑

@Mananas heres a good pattern to start with ..if you see a very deep retrace on a daily chart its likely a wave C of an ABC zig zag down..see if its retraced near or right on the long term 62% Fib then check to the left to see if there`s a wave 4 triangle..if so then drop down to intraday 60 min and look for signs of reversal there..(inverse HnS or similar)...C waves retrace to within the space of a wave 4 triangle (often right to the bottom of it) but the LT 62% Fib takes precedence over where it stops in the triangles range. View attachment 3013003

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How did you get that line as your Fib retrace? When I seem to draw it the 62% Fib retrace seems to be a fair bit higher value.

TNT Price at posting: 27.5¢ Sentiment: Hold Disclosure: Held
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