DislikedThat makes sense, i mean, why not? S/R levels are flip side of the same coin. Now, i am confused. i thought your question was about entry...now, it is about exit?Ignored
I am thinking the fibs could lead me to a solution for placing the stop too.
The two charts hopefully explain better what I try to do. Between the 38.2 and the 50.0 level I put another set of smaller fibs. Now my idea is that if price doesn't respect the 38.2% right to the pip it will respect one of the smaller fibs and turn around. Thus these smaller fibs can maybe lead me to a good stop loss placement.
The second chart just shows only the 23.8% on each fib level. The thing is I was thinking that the smaller fibs especially 23.8% for now can lead to a good stop loss placement.
God, hope I didn't add to the confusion, just difficult to explain what I am trying to do.
By the way, my calculation for getting this smaller fib level 23.8% into my standard fib set are still off. Not sure what the right formula is.
Do you understand?