Reference line 21Sma:
Whenever there is a Bear Candle on EOD chart above 21Sma,Next day,Short Below the LOW of the Bear candle.
However,it should not be a Gap Down day.
Similarly,when there is a Bull Candle Below 21Sma,Go Long above the High.
No Gap up.
Also,if a Bear candle is found Below the 21Sma in an up trend & Retracement,short below the Low.
Mirror for Long.
Finding targets: Find the fibonacci No between which the Closing value falls & calculate the ratios for s/R.
If necessary,Fibonacci within Fibonacci levels to be calculated for accuracy.
In my opinion,one could trade only with Fibonacci,comfortably & profitably without tension.No complicated indicators.But 21Sma is powerful & magnet.
Whenever there is a Bear Candle on EOD chart above 21Sma,Next day,Short Below the LOW of the Bear candle.
However,it should not be a Gap Down day.
Similarly,when there is a Bull Candle Below 21Sma,Go Long above the High.
No Gap up.
Also,if a Bear candle is found Below the 21Sma in an up trend & Retracement,short below the Low.
Mirror for Long.
Finding targets: Find the fibonacci No between which the Closing value falls & calculate the ratios for s/R.
If necessary,Fibonacci within Fibonacci levels to be calculated for accuracy.
In my opinion,one could trade only with Fibonacci,comfortably & profitably without tension.No complicated indicators.But 21Sma is powerful & magnet.
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