DislikedYes and no.
I do look for bounces where market has reacted to line up with the levels but that could become a bit misguided.
Traders use fibo lines in more ways than one.
So what you need to do is use the proper method of drawing from high to low or low to high and if it does not line up with bounce points, draw another fib that lines up, but follow both of them.Ignored
But you know, i draw all possible fib so that my chart is full of supports and resistances and finally end up in nothing.... So, i have forced myself to draw FIB only in 4H and 1D chart... i know that sounds crazy... but... i dont know what i am doing...