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.
EX BBMA trader focusing on REE code.