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Chapter 10, Part I. Mysterious Fibonacci. - Q&A

Discussion in 'Complete Trading Education- Forex Military School' started by georgeta, May 29, 2011.

  1. georgeta

    georgeta Sergeant

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    Hello Mr. Morten!
    If I understand corectly the definition of the swing, then the following chart is NOT a good example of ABC pattern. The problem is poit B that has no 2 higher lows on the right side.
    Thank you!
     

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  2. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Georgetta,
    yes, you're right. "BC" move should be well recognizable. As a filter for BC move you may use 3x3. If market shows close above 3x3 - then probably this BC move could be used as retracement for Fib extension estimation.
    But this is as add-on to previous rules.
     
  3. FOREXIRON

    FOREXIRON Private

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    '3x3'

    Sive
    May I understand what do you mean by a '3x3' from the swing perspective of the previous question ?
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Forexiron
    This is 3 period SMA shifted forward for 3 period. I suggest you to read 11 chapter, at least part that is dedicated to displaced MAs
     
  5. blueraven316

    blueraven316 Private

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    Commander, I think this description is for some other chart, the chart #2 shown in the example retraced only little below the 0.5 extension, not 0.618.

    Thanks for this course, it's priceless! :)
     
  6. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Blueraven,
    No, description is correct, since it tells not about retracement to 0.618 but about extension.
     
  7. magarlocate

    magarlocate Recruit

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    Hi Morten sir

    may i know why 0.618 is retracement ratio and extension ratio please ?
     
  8. Hamza Samiullah

    Hamza Samiullah Corporal

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    little bit confusing...
     
  9. willie123

    willie123 Recruit

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    pips and equity uncle will
     

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