Fibonacci setup plotting
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Thread: Fibonacci setup plotting

  1. #1
    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?


  2. #2

  3. #3
    Quote Originally Posted by ;
    Anyone knows if it's right to draw a fibonacci retracement from point 6 (highest wick) to point 1 (lowest wick), and also be legitimate? Also, from what point to what point can you draw on a retracement with this chart? image
    I mainly rely 23, 50 61 levels of fibo; regardless of the time period it's.

  4. #4
    Quote Originally Posted by ;
    Anyone knows if it's right to draw out a fibonacci retracement in point 6 (highest wick) to point 1 (lowest wick), and also be valid? Also, from what point to what point can you draw on out a retracement on this chart? image
    I will say 1 to 6,in one given page you pick lowest and highest points,do not zoom in or out LOL.

  5. #5
    Quote Originally Posted by ;
    quote I mainly count 23, 50 61 degrees of fibo; whatever the timeframe it is.
    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.

  6. #6
    Quote Originally Posted by ;
    Anyone knows if it's correct to draw out a fibonacci retracement in stage 6 (highest wick) to stage 1 (lowest wick), and also be valid? Also, from what point to what stage can you draw on out a retracement with this chart? picture
    if you are measuring the up fashion then bottom to top of the identical wave. So 1-2,3-4, 5-6

  7. #7
    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.

  8. #8
    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.

  9. #9
    Quote Originally Posted by ;
    It is really a very straightforward query. It appears that nobody is not able to answer this, since some traders think the correct way is to draw on the fib retracement from points 1-6 along with traders think the correct way is from 1-2,3-4,5-6. I will do some research on another Forex Sites and 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. . .Hehe

    Cheers

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