Nice spot Jurij!Jurij » Tue Dec 30, 2014 3:41 pm wrote:Nothing new, was just scanning the charts, I can see this foxy pattern everywhere. Not only after 3 levels, but also in ranges/accumulation.
Looks like a good ol' M
On a higher time-frame (H1, H4), that same retracement pattern is my bread-and-butter trade...
Throw a Fib at it, and see how many times price turns at 61.8, 73.6
B&B: Chop >> Level 1 rise >> retrace to 61.8 or 73.6 >> Level 2 rise >> retrace to 61.8, 73.6 >> Level 3 rise
PS: retracements can also take the form of trapping volume (tv)
Cheers
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