When PriceCatch identifies a probable reversal of a downward movement in price, it automatically draws levels as shown in the image below. By default, only up to level 1 is displayed. If you want other levels to be displayed, please check the "Display Profit Target Levels" in the PriceCatch-Main Settings dialog box.
The Levels are self-explanatory and are a mix of fibonacci and harmonic numbers. As price moves up, it will encounter resistance at various levels and when it successfully crosses over them, those levels are likely to offer support.
When looking out for a buying opportunity, trades initiated between the .5 and 0.382 levels can usually give you good profits when the upward trend becomes strong and prices start moving up with force. When in a long position, it is suggested to watch the price, the Fast Wave and Macro Wave to assess how far the upward move might sustain so as to plan your exits.
So as not to clutter the chart, the level values are not displayed on the screen. It is suggested to memorise them or download the image on the left and store it in your computer for ready reference.
PriceCatch gives you visual cues about price and possible direction by marking the 0.382 and the 0 level lines. Please look at the left image for reference.
Light blue: When the levels are drawn, the 0 level is marked with red line and 0.382 line marked with light blue colour.
Dark violet: When the red Macro Wave line crosses over the blue Macro Wave line, the 0.382 line colour is changed to dark violet.
Dark blue: When the red Macro Wave line crosses over the 0.382 level, the color is changed to dark blue.
Dark green: When the Macro Wave crosses over the 0.382 level, the colour is changed to dark green.
0 Level line Dark Green: When downward price move fizzles out and an upward price move becomes probable, the 0 level line is marked in Dark green colour.
0.382 level - Light Grey or Dark Grey: When you see these color lines, it is preferrable not to initiate a buy trade.
PriceCatch Trading System is trialware. Upon request, access will be given. You can then try the System for 15 days to see if it works for you. With the paper-trading feature available in Tradingview, you need not risk your capital while trying PriceCatch Trading System. Once you are convinced, you can opt for our very affordable subscription plans.