Triantus Shango
Sergeant Major
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sive, also on daily, don't we have a potential BnB?
sive, when you write 'major 0.618 support' do you mean 31037?
Sive, I have to say I really don't know how you handle it day after day, week after week, and month after month.
So many are depending on your correct analysis. For me, I think I would be a nervous wreak knowing if I am wrong, someone will loss money.
So, my hat off to you my friend!...you are doing a good job and highly appreciated.
Ok, as I have frankly admitted, I am not much of a technical guy and so would not feel like an idiot asking this.
Does that look like a potential butterfly to you too on the M5 chart?
On daily TF yesterday we have a stop grabber right at WPR1, 4-hour 1.618 extension target and just below major 5/8 resistance.
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On hourly TF you see Fib Tree (as Michael calls this indicator). There are 2 significant levels here. First is K-support.
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Second, is Major 0.618 support of this thrust. Moving below it will skew probability in favor of daily SG pattern and this will be first bell of potential deeper move down.
Hey Sive,
Just a question that popped up in my head and I am curious. Are the odds more in favor of market touching weekly pp each week and monthly pp each week?
Also, I recall you stating that in a downtrend, it is normal for market to retrace and hit WR1 and continue back to the downtrend.
However, it may be too early to say but as of right now, it looks like market has successfully closed above WR1. Does this mean that this retrace to the upside is strong?
Thanks, Sive! Take care!
hi sive, thanks for your great analysis. Pls. what setting do you use for your MACD ? I use 12,26,9 and mine has not crossed on the daily TF as at the time you posted your analysis.thanks. Olukola