Disliked--- Thought he already explained that you have to use the one candle before the current one. If you're trying to trade at 6:43, then see if it already reached 50% fib, if it has then your opportunity already passed, wait for the next hour. How hard is it? Beside, this system is just trying to catch the reversal of the current trend. I assume in a market where there's news event, it wouldn't work so well. In my opinion, you probably have to get at least 2 hour candles that has the same direction before using the fib on the 3rd candle. I could be...Ignored
Yes, I think he has, but I just want to clarify on that specifically coz I was still not that clear on that...Thanks for your advice too So basically we just wait until it reaches our 50% fibo, rite, no matter how long we have to wait...Thanks!
Another question to you, Agent-Pipen, is that once let's say we reach profit at 23.6% fibo at half past the hour...and it turns the other direction, can we do the same procedure for this current counter-trend based on the previous H1 candle? Or do we wait until this current H1 candle finishes to start again?