DislikedDon't get me wrong - I like to look at the bigger picture, get some perspective. In fact, I used to do that a long time ago, when I started - about 3 months ago :|
To know which SR lines were important was sometimes very puzzling.
Now an example from the daily, today. EUR/USD is consistently rising since April 22. I plotted fibs since then till today's high. One could expect a retracement for the 23.6 fibo. Am I right until now?
Since today's low does not seem to go any further, I tried to find another support line. December 31 high seemed adequate...Ignored
A more accurate and current fib would be to pull it from it's most recent swing.
15 YEARS OF PASR ON FOREX FACTORY!