October 16, 2016
Fibonacci Numbers
In mathematics areana, the Fibonacci numbers are numbers in the following sequence, where numbers start with 0 and 1, and adding the two numbers, and every number after the first two is the sum of the two preceding ones and forms 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, and so forth.
In trading, the Fibonacci numbers play a very important part. Many of the support and resistance seems to react to the Fibonacci numbers. We use one set of number, such as 21 to test, see a Singapore stock example, OUE Limted on its price action and reaction to the Fibonacci number 21.
Have fun!
OUE Limited Weekly and Wave
We use Fibonacci number 21, EMA 21 High, and EMA 21 Low to form a band. We can call it wave or river, We can easily see the price action react to the wave. Price action get supported or resisted. Bearish when the price action below the wave, and bullish when the price action is above the wave.
In fact the wave is the MA, if MA is a great visual tool. It would the same for wave.
October 14, 2016 OUE Limited Weekly and Wave
Moses Singapore Stock Desk
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