phi (0.618), Golden Ratio(Spiral), Fibonacci ratio, NIFTY.
We created a parallel channel by looking at market pivots that have lines (a), (b),....(e). If look at this chart and drawing minutely, then you will found that where are maximum points(dots). That is called gravitation to attract the price value. In the future, while the pullback price tries to test this line in the coming days.
Fibonacci ratio, Many traders know this, but few know how to apply it.
Let's check the shortest range (3):
Look at "a" and "b"
another range (2)
Look at "c" and "d".
Let's check the whole picture.
The range of applied for the fib. retracement if perfect known after applying everything above and confirmed.
I am going to remove everything and just keep a 50% division of range.
Now check out this both range of "a" and "b" marked.
Fibonacci ratio, Many traders know this, but few know how to apply it.
- three market ranges (1,2,3) which range defines
- the 50 percent division at 6926.8.
Let's check the shortest range (3):
another range (2)
Look at "c" and "d".
Let's check the whole picture.
The range of applied for the fib. retracement if perfect known after applying everything above and confirmed.
I am going to remove everything and just keep a 50% division of range.
Now check out this both range of "a" and "b" marked.
Trade closed: target reached:
Pullback has done.