DislikedGuys sorry but want to understand this portion more
Is this valid fib confluence even when 1 is looking for resistance and the other support?Ignored
and there is confluence between multiple fibs, chart below. assume you are looking at the chart after #1 high is made, and you want to find sup for the retrace. you draw the two fibs as show, and you should see these two fib confluence:
1. orange 0.382 and red 0.618
2. orange 0.50 and red 0.786
the key is to draw fibs to clear swings, not every high to every low.
also use other tools to prioritize you fibs. for example, confluence #1 above is more important than #2 because #1 is also a ppz.
just my two cents, hope this helps.