Hi all, I would like some advice regarding confirmation signals to use in conjunction with fibonacci retracements.
I'm aware of candlestick patterns and trendline break methods which both work ok but I wonder if anyone can recommend a better approach or at least a more mechanical method to determine that a technical level, such as a fibonacci retracement level, has held?
I mostly trade usd/jpy on a 5 min chart using the 1h chart to give me the bigger picture. I only trade in established trends, ie, when more than one impulse/correction wave has occured.
Thanks
I'm aware of candlestick patterns and trendline break methods which both work ok but I wonder if anyone can recommend a better approach or at least a more mechanical method to determine that a technical level, such as a fibonacci retracement level, has held?
I mostly trade usd/jpy on a 5 min chart using the 1h chart to give me the bigger picture. I only trade in established trends, ie, when more than one impulse/correction wave has occured.
Thanks