Anyone knows if it's correct to draw out a fibonacci retracement in stage 6 (highest wick) to stage 1 (lowest wick), and be legitimate? Additionally, from what point to what stage can you draw on a retracement on this chart?
Anyone knows if it's correct to draw out a fibonacci retracement in stage 6 (highest wick) to stage 1 (lowest wick), and be legitimate? Additionally, from what point to what stage can you draw on a retracement on this chart?
Hello
Tray use this auto Fibo trend tools
https://www.forexforum.co.za/attachm...1731613676.rar
I mainly rely 23, 50 61 levels of fibo; regardless of the time period it's.Originally Posted by ;
I will say 1 to 6,in one given page you pick lowest and highest points,do not zoom in or out LOL.Originally Posted by ;
All the amounts has got its own story from 11 to 78 degree(profit taking zones) but generally 38,50 and 61 would be the retracement zones.i have lot of admiration for this indior because it follows the mother character.Originally Posted by ;
if you are measuring the up fashion then bottom to top of the identical wave. So 1-2,3-4, 5-6Originally Posted by ;
I'm back to square 1. It appears that it's valid to draw from point 1 to 6 and from 1-2,3-4,5-6.
It is really a very straightforward question. It appears that nobody is not able to answer this, because some traders believe the way is to draw on on the fib retracement from points 1-6 along with traders believe the manner is by 1-2,3-4,5-6.
I'll do some research on another Forex Sites and luckily find the answer.
I believe it is not a case that nobody is not able to answer but instead nobody is willing to inform and why should they. . .HeheOriginally Posted by ;
Cheers