I've been searching through your older posts, but couldn't find the information on this. Besides the yellow line being the 34 weeks WMA, what are the other two (blue and red lines in this case)?
They seem to work quite well as dynamic support/resistance levels, so I'd be grateful if you could share that vital piece of information.
And thank you for all these updates, they are very much appreciated.
what about them? The market reacted to 34 weeks WMA (yellow)
https://www.mql5.com/en/charts/8614718/btcusd-w1-simplefx-ltd
I've been searching through your older posts, but couldn't find the information on this. Besides the yellow line being the 34 weeks WMA, what are the other two (blue and red lines in this case)?
They seem to work quite well as dynamic support/resistance levels, so I'd be grateful if you could share that vital piece of information.
And thank you for all these updates, they are very much appreciated.
Blue - 13, yellow - 34, brown - 89.
89/34 = 34/13 = 2.618 = 1 + 1.618
I hope I don't need to explain what 1.618 represents.
Thank you!
1.618 = Phi, golden ratio (among its other names).
Thanks for clarifying.