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Please tell me how to get the envelope set up.
to be clear: Are you drawing the M, W, and D candles from the last H/L or from the last candle?
Thank youIgnored
Period..............50 to 100
Shift..................0
MA method ....Simple
Apply to...........Close
Deviation........ 0.05
It will only work correctly on the 1 hour timeframe, the different timeframes would require different settings.
I dont normally trade from the set time period fib like the high and low of the previous month and week, there are traders who use those very successfully, but before when I mentioned them I was only showing an example of the 2 different way to draw fibs, 1. Tagged to time (high and lows of previous week and month) 2. Tagged to price ( highs and lows regardless to amount of time, merely the trending type moves however long they may be) I use more of the 2nd way, it suits my style more.