We already took a short look at the time element when started this project, both on the first chapter when dealing with the Fibonacci expansion for price and time confluence, as well as on the second chapter, when taken a short look at the astrology field influencing trading, where we might add things like ingress studies, solar eclipses, opposition and conjunction between different planets, etc.
But the purpose of this chapter is not to repeat what already stated previously, but to mark once again the importance of the time element when trading. Without taking into consideration the time when you are making a forecast, then the actual price you are forecasting has no value.
The recording that goes with this chapter will show you how to deal with market corrections by looking at the proportions between the correction legs and when/where to expect them to end. We’re gonna look at the possible equality between the moves, both in time and price, and also at projecting price into a specific time frame/horizon.
As you noted on the first chapter of this project, using the Fibonacci expansion tool gives you an educated guess about where a price target might be after extension between different legs of a move, but the expansion principle applies not only to price, but also time. These time zones can be calculated by using the time zones tool provided by the Metatrader platform, like explained on the first chapter, or by using a more traditional approach when trying to see when a price meets a specific target, and this is the purpose of this recording.
Next chapter will deal with candlestick charting techniques and that is a totally different field than what we’ve discussed so far. Looking forward to it.