I'm a little lost. There are no retracements in either GM chart. Are you trying to line up prior price action to the fib levels?
Also in the first chart there doesn't seem to be any "pip perfect" alignment at all.
One more thing that I've never understood about those who religiously follow fibs in forex. How the heck do you do it? The data is imperfect. No one knows what the real prices are. There is no centralized price point like in the stock market. How can we expect "perfection" in this type of environment?
Also in the first chart there doesn't seem to be any "pip perfect" alignment at all.
One more thing that I've never understood about those who religiously follow fibs in forex. How the heck do you do it? The data is imperfect. No one knows what the real prices are. There is no centralized price point like in the stock market. How can we expect "perfection" in this type of environment?
DislikedHey,
My chart was not meant as an explanation but as a key to lead you to understanding what I have been presenting. I mentioned in another post that a fib is truly on the right spot if and only if you get a perfect retracement to one of your inner fibs. I am speaking of a pip perfect retrace. We do this with out anchor points anyways, meaning we line them up pip perfectly, so why not do this with our inner fib levels? The inner fib area has to be correct for the fib to be correct.Ignored