DislikedHi, first of all, thank you very much for your efforts in helping others and sharing content Since I conider myself still a newbie, especially when working with the fib, I just want to make sure to get the pending orders right (for method A): So I basically set 2 pending orders. One buy order at SAFE BUY and one sell order at SAFE SELL with their TP and SL levels. If I want to use TP1 and TP2 for buy and sell, I have to put 4 pending orders, but both buy orders with the same buy SL and both sell order with the same sell SL, right ? Sorry...Ignored
It kind of depends on how aggressive you want to be.
If you are just testing it and new to fibs then I would just set 1 buy and 1 sell targeting TP1 in both cases. If you want to also target tp2 and 3 then yes you can use more pendings targeting those all opening at safe buy or just manage 1 trade moving your SL as it goes.
I actually like using 3 buys and 3 sell trades targeting tp1.
Yes its more risk but the success rate for hitting tp1 is very high.
So test what works for you.
BBMA trader focusing on REE code.