Hello, I use fibonacci in trading to find my take profit points and sometimes for entry's when I anticipate a reversal. Since I am mostly trading the daily, monthly calculations seem to work best. After messing around with the timezone fibo, and getting it lined up right, I can see the flow of the market in terms of days to the turning point. I am looking for the 5 and the 8 day peak, valley and peak again ( or visa versa), then lining up the timezone with that. Maybe there is even a better way, so i don't have to look for those points and can capture those periods as well?????? HELP! Then I see that the last big run was about 13 days and the next one starts to exhaust at around 21 days. I don't if I am doing this totally correctly, but fibs are very powerful, and if you could line up the cross of the fib/30 day, with the lines at 5,8,13, and 21, It is kind of a crystal ball into a reversal. The guy that made the autodayfib indicator did a nice job on it. I just go in and set the period to MN1. If there were only an indicator or an ea that would combine these two elements. along with some other smart stuff, we may have a real winner there.
Is there anyone out there that is familiar with any such an animal?
what are your thoughts on using this?
Is there anyone out there that is familiar with any such an animal?
what are your thoughts on using this?