Instead, start using harmonic levels. This is a custom chart with my own levels that I use every day. Time frame does make a difference for day trading, as some the .618, .886, are frequent intra-day targets for me. Once you understand the importance of these levels, you'll add a very precise leading indicator to your tool box.
Comments
hfdratch
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Your chart does help me with that usual empty space between .618 & 1. & intervals above 1.0 b/o. Thanks.
TradeVulture.com
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Your welcome. These are all variants of the mathematical constant Phi (.618 etc). Some are inverse and square, third and fourth roots.