Dislikeddear BObokus:
recently, i think i have advanced in the understaning of your method. but i want to know, in an uptrend, how to know a retracement is happenning so i can place the retracement-fibs.
regardsIgnored
The uptrend and retracement are drawn on the Daily chart, every move that runs counter to where you have your uptrend fib is where you begin pulling your retracement, you place the retracement at the high of your uptrend and continue to pull the low of it until no new Daily lows are being made then you will have your resistance levels to price in order for the uptrend to continue, as price does rally back to test the levels and they hold you then look for it to continue short and then if new lows are made from rejections to its levels you go back to pulling the low of the retracement until it once again you stop getting lower Daily lows and you now have your new resistance levels to the uptrend to continue.Once the retracement levels are broken from price rallying back the up trend can continue.