This is a price pattern that I like to call the FAMOUS setup.
It allows me to forecast the market at 10 pm UK time before going to bed.
I see this pattern 10-12 hrs in advance. And so the prediction is that provided that it stays within this boxed range, as shown on the chart...
It will break out into wave 5 on the M15 chart.
I should go and hit Target Zone 1, i.e the Fib Expansion 62%.
What will invalidate the signal?
If price did not stay within sideways box region, I..e if it goes up into wave 5 without going sideways first
or if it retraces more than 50%.
It allows me to forecast the market at 10 pm UK time before going to bed.
I see this pattern 10-12 hrs in advance. And so the prediction is that provided that it stays within this boxed range, as shown on the chart...
It will break out into wave 5 on the M15 chart.
I should go and hit Target Zone 1, i.e the Fib Expansion 62%.
What will invalidate the signal?
If price did not stay within sideways box region, I..e if it goes up into wave 5 without going sideways first
or if it retraces more than 50%.
Not
The blue line on the chart was taken from the D1 Box High. It was a potential resistance level It appears that it's hit it and stalling around it.
To get our premium tools visit: itradeaims.net
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
To get our premium tools visit: itradeaims.net
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.