Finding Confluences Increase Trade Probabilities
Finding confluences in securities always increases chances of a successful trade. In this example, FEMA (Custom Fragmented Exponential Moving Average) is stacked correctly, the price bounced off FEMA on the pullback, and the pullback also matched Fib 0.382 level. Expecting price to reach $190.98, as that was prior high level, and it also matched the Fibonacci 1.272 extension. Then, expecting $195.64, which is Fib 1.618 extension, and Keltner Channel upper band(upper green line) is estimating price to reach that level before reverting back to the mean.
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