Note that this is not intended to be a long or short , its just information that should help in trading...
I am starting a new series of posts "Watch This Level" where i will be publishing the most important short,medium and long term support and resistance levels. Its not a forecast or a trade its just an attempt to provide and show levels that might be key on different time horizons, and could provide could trade opportunities..
If you like the idea, so i continue , please let me know by liking and commenting, If i get sufficient interaction i will continue.. thank you..
Please continue Technician, "Watch This Level" is a great idea..A big help to all. Thanks
jangseohee
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Time for celebration, a toast to all of you :-)
touns
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It's great for beginners like me. Thank you for showing those important levels ! Good job, please go on !
jangseohee
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Touns, I am no better than you :-)
ForceFollower
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Yeah, I believe it's heading for 61.8%. The lows to the left aren't likely to hold, in my opinion.
Btw, we've also discussed it in this thread: tradingview.com/v/n9h9uSMO/.
jangseohee
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I am very weak at Fib level, so i left it out
just based on trend channel, MA & S/R line
ForceFollower
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That's OK. However, why don't yoy give Fibs a try? You'd probably appreciate their value. Start with the Golden Section first and build on that - that's at least how I see it. If I ever write a book on trading, Fibs will make one chapter for sure.
jangseohee
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the thing is which swing high swing low to choose from got me really confuse, but trend channel has no ambiguity :-)
ForceFollower
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To me - channel trading, albeit great, is more ambiguous than Fibs. Which swing high or low? My method is simple - I go for the extremes, the highest high or the lowest low.
jangseohee
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It is about finding out what suits each trader based on their own personality :-)