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( April 2012 ) to the swing high in ( Feb 2014 )
( Nov 2013 ) to the swing high in ( Feb 2014 ).
Which set of Fib's would be more credible in this scenario ? Perhaps both, none or ...?
I am new to using Fibonacci so id like to know how they are generally drawn. I am seeing patterns and am really catching on but some scenarios I am still unsure how its best done.
Can you help answer these questions from other members on NexusFi?
If you want to use fib, you have to do a lot, and I mean a lot of backtesting before you start to understand what fib is. It's like everybody can buy a piano, but it take time to find the melody. Don't trust people there say it's random lines. I think it's about 90 % or more there can't think that way.
If you want to use fib, then never use indicators. Indicators is a static mathematical frekvens on a dynamic market. Fib is dynamic on a dynamic market.
There are many combination.
Oh wait ..Never mind regarding the measured move , i noticed you just updated a trade you were in.
Back to the Fibonacci topic i noticed a nice bounce from the 38% retracement to the tick. I wonder what the probability has been over the past year that the es bounces off the 38% measured move target at least 4 points, with only risking a point. From the night sessions swing high and swing low?
