as an example of what I discussed, here's a real time 5 min
chart from today, notice your first bounce was 13.4 points, while
your second bounce was 17.2 points, but price just went right down
to another low. You only had 2 bounce attempts.
Most of the time having 3 or more bounce attempts by the time
you break symmetry are the ones that have very high
probability.
When that sym break only occurs on a 2nd bounce, it's 50/50 at
best, and that's what the 60 min had, that was only the second main
bounce attempt
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Makes sense… thanks for the
Symmetry update
Posted by desanyn on 10th of Aug 2023 at 01:58 pm
Makes sense… thanks for the clarification.
as an example of what
Posted by matt on 10th of Aug 2023 at 02:01 pm
as an example of what I discussed, here's a real time 5 min chart from today, notice your first bounce was 13.4 points, while your second bounce was 17.2 points, but price just went right down to another low. You only had 2 bounce attempts.
Most of the time having 3 or more bounce attempts by the time you break symmetry are the ones that have very high probability.
When that sym break only occurs on a 2nd bounce, it's 50/50 at best, and that's what the 60 min had, that was only the second main bounce attempt