Remember Bo is trading his own system based on what works for him ( and he is good at it to be sure). But it isn't what your learning here, try not to confuse the two. Bo is a great example of when you learn how price moves you can create a system that works around how you see the market. There is no right or wrong once you learn how it moves. There are many many many trade set ups once you have your price fibbed.
Just wanted to make sure, that if you go over to Bo's thread, you understand he's got plenty to show you about a particular system he spent many hours developing for himself. He makes pips that way and many other ways as well.
In either thread you need to understand and practice price movement and how it reacts to the fibs you have drawn. If price is not reacting change your fib until it does (vhands) this way you will learn first hand where to draw your fibs. If you just look at a completed candle(easy way) it only tells you a small small story of what went on during that candle time.(H,L,O,C).
Hi Skunny,
thank for pointing that out
.So do you think it is a good idea to start at the present candle on lets say the daily and fib backwards till you find a range or candle that the price of a lower TF reacts to and go from there? And while i'm at it, Skunnysan, do fibscycles need to hang together or can there be time in between then ?
Thanks a mill for what your doing here,
LL
If you have help we know you are a qualified trader.
