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Selective Forex Trading: by Don Snellgrove

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Chapter 6. Extreme Levels of a Trading Range: What Are S90/Crossover Extreme Levels within the Forex?

This seemingly simple question requires a rather complex answer. S90/Crossover extreme levels (ELs) are outer Fibonacci levels found within trading ranges that were former level one and two S90/Crossovers, which are also found within multiple time compressions of a trading range that have historical significance as overlapping Fibonacci points in the market. These levels are measured horizontally, vertically, diagonally, and with inverted reciprocal confirmations. Extreme levels have always been present, as have the laws of nature that Leonardo Fibonacci found in the early 1700s. The extreme levels represent expected support and resistance levels that are extensions from trading ranges that have historical significance. The extremes have outer layers of support and resistance that are seasonal, which are conclusive from studies that I have completed over the past few years. These extreme levels change as market conditions change on an almost daily basis.

If that sounds a bit confusing, don't worry. There is a simpler way to consider ELs. What really matters is that out of the millions of potential resistances, supports, or other levels that are present within trading ranges, you really just want to know which one will produce a sudden reversal or will best act as a target. You would at least expect to find an area of a newly developing trading range where a bend or reversal in the ...

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