@andi1995, you can google: Forex master pattern (read articles and/or images or pics) and/or you tube it too... a few great videos explaining this cycle which happens daily, weekly and/or monthly. gl
rounakskm
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Hi,
Could you please explain how to create this indicator.
w90vs
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Hi,
I have a question. How do you determine at what point the market goes from an expansion phase to the trend phase?
Thank you in advance
Anbat
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@w90vs, every chart has these different phases, they play out daily, weekly and monthly. If you scalp or day trade using the fib extension would be from extreme levels on 15 mn or hourly time frames.
You need to know that 80% of time or mostly that high or low of a day happens from 10 pm to 2 am and 6 am to 10 am PST/CA/USA- so use this as part of your edge or strategy. Tokyo session is mostly quiet and low volume and liquidity or accumulation phase and end of Tokyo to end of London is where expansion phase mostly happens, then real trend of day.
w90vs
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@Anbat,
Thank you for your answer! Does this also work for cryptocurrency?