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The Science of Getting Rich: CHAPTER VII [excerpt] by Wallace D. Wattles #Gratitude

--- Gratitude THE ILLUSTRATIONS GIVEN IN THE LAST CHAPTER will have conveyed to the reader the fact that the first step toward getting ...

Thursday, January 12, 2012

Discussing the Golden Ratio

It's normally possible to explain any price turn with a 161.8 completion move on some time frame.. In this case AUDUSD turned back up strongly on a h4 but if we switch to a m5 we can find the turning point occurred after a bearish 161.8 completion cycle.

23.6 also plays a very important role. Here, in addition to the 161.8 m5 completion, AUDUSD is bouncing off a much larger (h4) TF bearish 23.6 from above. Above this level is potentially bullish, a break & close below it is potentially very bearish.


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