If I told you that, based on some measurement, the distance between the extremes is likely to be 120 pips then you could assume that trading off of the high or low extreme of that time period is worth 120 pips.
As a rule of thumb, price will either move 66.6-83.3% or 1.166-1.333% the measurement from the high or low extreme (120 pips would be 1.000)
The measurement is as follows:
1. look at the last 3 weekly candles that closed
2. the measurement is the range that is neither the smallest nor the largest.
The Weekly Crash Zone
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adaseb wrote:Hey
I am just wondering where you got the 120 pips from. Looking at the above chart the distance between the high and low of the crash zones is more like around 300 pips.
120 pips is just an example of a measurement.
I teach by PM and Google Talk so I just copy and paste parts of the chat because I am too lazy to type.
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