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Chapter 10, Part III. Advanced talks on Fibonacci Retracement. Page 4

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 15, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Commander in Pips: Now let’s continue further. Here we will study some theoretical examples that will help you clearly understand how to correctly obtain advanced Fibonacci retracement levels. Show me X and A points here:

    [​IMG]

    Pipruit: Hm, it doesn’t look difficult – almost the same, just in other way. Well, the first X2 point will be the initial low – that’s obvious, the second X1 point will be a bit higher. “A” point should be the highest price to the right from X2 and X1 – this should be the highest price of this pattern. Well, I think it will look as follows:​

    [​IMG]

    Commander in Pips: That’s right, and now here:

    [​IMG]

    Pipruit: Well, X point will be initial low again. “A” should be highest point to the right. The most recent price is lower than previous high, so, this is not the “A” point for our “X”. I think something like that:​
    [​IMG]
     
    Hamza Samiullah and fran alvarez like this.
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