Sive Morten
Special Consultant to the FPA
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Hi Master Sive.
Please i want you to clear something to me on B&B pattern. must the crossing 3 by 3 MA to the opposite side of thrust always 38.2 fib retracement or could it be less, say like 23.6 fib retracement. Thanks
Hi Seedof,
No, it can't be less than 0.382. It could be even 50%. The rule suggest "reaching of important fib level within 3 periods after crossing 3x3". "Important" level usually at least 0.382 from thrust of B&B. It could be some specific situations, when it is ont very easy to estimate this "important" level definitely, but in this case experience should help. B&B is a bit flexible pattern in terms of identification of suitable thrust, its shape, choosing "important" level etc.