Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Or are you saying it requires 3 days of lookback and uses each day? Like I take the balance point from day 3, add that to day 2, add that to day 1, and average them together to get day 0 (today) balance point?
You are correct. That is the right way to calculate. IT is as simple as that. From the current day you take the previous 2 days High and Low and divide by 2, that will be TODAYS current trading value. Tomorrows 50% point will be TODAYS and YESTERDAYS Highest High + their Lowest Low divided by 2.
You do not aggregate 2 days with 3 days etc. Each new trading day has its 50% point calculated from the previous 2 days highs and lows.
The ideas is to leave 2 -4 previous 50% Balance points on the chart is that these lines can be REVISITED thus giving you S/R lines to trade off. As you advance from day to day you can just drop off the 3rd or 4th previous lines to be replaced with a new one.
I hope this clarifies the idea. Take a look at post #12
Attached chart of 6B is from today 21th April, show 3 lines going back 3 consecutive days. We now see that today trading is heading up to the 50% Balance Point that was 3 days ago.
I imagine we will hit it, and if so there could be a nice trade to the downside. Lets watch and see.
Ok folks, as predicted we got a massive sell off on 6B (see post 57), 6 pips below the 50% Balance point and also a double top from the previous high that also made a big move down after almost hitting the 50% point.