Disliked{quote} gyanpapi.. because you draw your fibs upside down, that 23.6 level you bought at isn't really there. your 38.2, 61.8 and 50.0 lines are fine because they can be flipped (38.2 becomes 61.8, 61.8 becomes 38.2, and 50 stays as 50)... but 23.6 flipped isn't a fib number... just a head up, but i'm sure you already know this? anyway, keep up the great work in this thread! You're showing some really simple setups, getting excellent results, and inspiring me to keep my trading more simple tooIgnored
the magic of fibo is even if you draw completely wrong support resistance price stay same .
Fibo have total 7 nos. : 1) 0.0 , 2) 23.6 , 3) 38.2 ,4) 50.0 , 5) 61.8 , 6) 76.4 , 7) 100
below i am posting the charts .. see if you draw correct fibo support is at 76.4
so draw right or wrong daily FIB support at 0.9503
Also i mentioned previously why i am drawing wrong types ....as thats dosn't matter