RATIONAL FOR POUND TRADE
SEE ATTACHED CHART
ULTIMATE TARGET IS 3 BAR BUT FIRST AREA OF RESISTANCE IS 9850 BECAUSE OF A CONJUNCTION OF RESISTANCE LEVELS THERE.
MOST TIMES I WILL GIVE YOU THE 1ST LEVEL OF RESISTANCE BUT THAT MAY NOT BE THE ULTIMATE TARGET. MAKE THE MARKET PROVE ITSELF BY CLOSING ABOVE FIB LEVEL, BELOW IS THE TRIPLE CONJUNCTION OF WHICH I SPEAK.
PRIOR BOTTOM, 38% FIBONACCI AND LOW OF PRIOR BEAR PIVOT BAR #4.
IF CLOSE ABOVE FIBONACCI 38% ON HIGHER VOLUME PLAY YOUR CONTINUATION RULES BECAUSE NEXT STOP IS 3 BAR WHERE THERE AWAITS ANOTHER BOTTOM WHICH HAS NOT BEEN TESTED.
IF CLOSE ABOVE THE STATED FIB LEVEL, WAIT FOR A BULL PIVOT BOUNCE OFF THAT LEVEL ON 5 OR 15 MINUTE. THEN PLACE YOUR STOP BELOW THE 5 OR 15 MINUTE SWING BAR OR BELOW 38% FIB, WHICHEVER IS LOWER.
THEN YOU WILL TRUELY BE A SPARROW. DON'T WORRY ABOUT MISSING MOVES. THERE ARE TOO MANY TO SWEAT IT. THAT IS...
IF YOU'RE TRADING "THE LAWS OF CHARTS AND MEN"
MOST TIMES I WILL GIVE YOU THE 1ST LEVEL OF RESISTANCE BUT THAT MAY NOT BE THE ULTIMATE TARGET. MAKE THE MARKET PROVE ITSELF BY CLOSING ABOVE FIB LEVEL, BELOW IS THE TRIPLE CONJUNCTION OF WHICH I SPEAK.
PRIOR BOTTOM, 38% FIBONACCI AND LOW OF PRIOR BEAR PIVOT BAR #4.
IF CLOSE ABOVE FIBONACCI 38% ON HIGHER VOLUME PLAY YOUR CONTINUATION RULES BECAUSE NEXT STOP IS 3 BAR WHERE THERE AWAITS ANOTHER BOTTOM WHICH HAS NOT BEEN TESTED.
IF CLOSE ABOVE THE STATED FIB LEVEL, WAIT FOR A BULL PIVOT BOUNCE OFF THAT LEVEL ON 5 OR 15 MINUTE. THEN PLACE YOUR STOP BELOW THE 5 OR 15 MINUTE SWING BAR OR BELOW 38% FIB, WHICHEVER IS LOWER.
THEN YOU WILL TRUELY BE A SPARROW. DON'T WORRY ABOUT MISSING MOVES. THERE ARE TOO MANY TO SWEAT IT. THAT IS...
IF YOU'RE TRADING "THE LAWS OF CHARTS AND MEN"
JERRY
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