First before I begin I am taking the presumption that everyone is familiar with Fibonacci and how to draw the lines, since we are at 1KT status here.
Trade plan for second week of Jan 08
yearly fib levels, upper is 9939 and lower is 9651
monthly fib levels upper is 9972 then 9753 then 9534
so here downtrend should meet resistance at 9651, a break of this level exposes monthly 9534
on the upside a break of monthly 9753 exposes yearly 9939
i have been following this mix of monthly and yearly with good results.
since my trade server is GMT+3, prices may differ on different servers.
Trade plan for second week of Jan 08
yearly fib levels, upper is 9939 and lower is 9651
monthly fib levels upper is 9972 then 9753 then 9534
so here downtrend should meet resistance at 9651, a break of this level exposes monthly 9534
on the upside a break of monthly 9753 exposes yearly 9939
i have been following this mix of monthly and yearly with good results.
since my trade server is GMT+3, prices may differ on different servers.