Thanks, this helps a lot.
Unfortunately somehow I can't change those rectangular boxes. They are not clickable on the chart. hmmm.... any hint?
Without going too much into detail... when scalping - do you always wait till the Retracement Fibs of the Swing-Fib show a trade? Or do you jump in at support/resistance points with tight (psychological) stop loss without Swing Fib usage?
Regarding Gann Lines - any hint for resources we could read? Do you use Gann Grid / Fan or Gann Lines only? Sorry - I know this is not related to the thread - just want to somehow personally improve my current Fib-Strategy and decrease my false entries.
Thanks
Unfortunately somehow I can't change those rectangular boxes. They are not clickable on the chart. hmmm.... any hint?
Without going too much into detail... when scalping - do you always wait till the Retracement Fibs of the Swing-Fib show a trade? Or do you jump in at support/resistance points with tight (psychological) stop loss without Swing Fib usage?
Regarding Gann Lines - any hint for resources we could read? Do you use Gann Grid / Fan or Gann Lines only? Sorry - I know this is not related to the thread - just want to somehow personally improve my current Fib-Strategy and decrease my false entries.
Thanks
DislikedThe boxes are just rectangular boxes drawn with the mt4 tool, they are there so the fib levels will stand out and keep your attention on the places that matter.They are just colored different to represent the different fibs so they can be destinguished from each other, without them it looks more cluttered.They are moved manually.
There are many different ways to trade them, to me i like to see price test the levels of a fib and trade from there.Scalping is one of the measures i take but its difficult to try and explaign in one post.
As far as targets I will normally exit at T1, if price action dictates i will hold for T2.And i dont scale out, im either in or out.
In some instances I will add to a position, but i very very rarely scale out.
I will use Gann lines instead of trendlines, the thing about trendlines is they can be broken by price moving sideways rendering them useless sometimes.Ignored