$DXY and the Power of 0.886
Welcome to our first educational post (rather than analysis).
Today we are taking a look at the overlooked 0.886 retracement. This measurement has been popularized by Scott Carney's Harmonic framework.
This measurement is a key aspect in the Shark Harmonic Pattern which we see above.
Along with the "0.886" which signifies an undershoot. We have the 1.13 which signifies of "overshoot" which we will go over in another post.
Adding this measurement to your retracement tool is very useful in identifying supply and demand zones. As we know, with high-frequency trading, traditional support and resistance is likely to be over or undershot.
These fibs help solve that problem.
Thanks for reading and I hope you all enjoy.
Portfolio Kings Team
Today we are taking a look at the overlooked 0.886 retracement. This measurement has been popularized by Scott Carney's Harmonic framework.
This measurement is a key aspect in the Shark Harmonic Pattern which we see above.
Along with the "0.886" which signifies an undershoot. We have the 1.13 which signifies of "overshoot" which we will go over in another post.
Adding this measurement to your retracement tool is very useful in identifying supply and demand zones. As we know, with high-frequency trading, traditional support and resistance is likely to be over or undershot.
These fibs help solve that problem.
Thanks for reading and I hope you all enjoy.
Portfolio Kings Team
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