Major TradingLevels
The Fibonacci sequence 1, 2, 3, 5, 8, 10, 13, 20, 30, 50, 80, 100, and so on… There is a TradingLevels language and is labelled in a particular way, as follows:
The Major TradingLevels are labelled on charts as TL – TL1, TL2, TL3, TL5, TL8, TL13 As in the video TL1 can = 1 cent, 10 cents, $1.00, $10.00, 100, 1000, 10000… These are all TL1 and TL1 is the strongest number in the market. TL2 are all the 2s, TL2 = 2 cent, 20 cents, $2.00, $20.00, $200, 2000… TL3 is all 3s, TL3 = 3 cent, 30 cents, $3.00, $30.00, $300, 3000… and so on also for TL5, TL8 and TL13.
In fact the numbers 1, 2, 3, 5 and 8 are all you need to remember for now regarding the Major TradingLevels be it cents, dollars or points. On the charts TL1, TL2, TL3, TL5, TL8 are all simply Major TradingLevels.