We all know that a very big proportion of trading is done with black boxes or algorithms. Its very hard to read them and even harder to predict their next move because they are calibrated to change on regular basis. But I have found many times that it mostly bounce of levels where there is a confluence of two indicators. And it does that 2 times and changes to something else. In this case i am using fibb extension and ema and smas and trying to find that confluence.
Please like or comment thanks
Please like or comment thanks
Note
that was on a 4 hour chartNote
Reversal at fibbs spot on
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.