Disliked{quote} Hi Alamhakim, Thanks for your questions. I'll try to answer them: 1. It's the move on the fib between 0% and 100%, then moves back to the 50% level. I place a pending order to buy (or sell) immediately with SL at the 0% and TP at an identified target. 2. There is no set pip level below for example a swing low (for longs). I would normally move stops up to the swing low point - I might give it a couple of pips breathing room, but not much. 3. I might do - It depends on the price action on the charts. It may be that if it retraces a large...Ignored
Thanks for answering, still not quite getting the hang of where to draw the top and bottom of the fib tool.
I thought I understood how you drew the fib, but I have not, as for example the usdcad you mentioned, we use the 1D to draw the recent swing levels and use the extensions 1R, 2R...9R to mark the levels? So those levels might not be recent for a long time as in USDCAD.