TAH
You may want to take a look at my post regarding Fibonacci terminology ... (#9661)
http://www.forexfactory.com/showpost...postcount=9661
I mean extension which is used on MT4 with "Fibonacci Retracement" tool ...so I will use here on the thread the term FR not to create any kind of confusion.
You are very right regarding zooming out to look at a bigger swing . A combination of both options it's even better .
Can I get your comment regarding "waiting for the ascending channel to break down" ?
What's your choise ? To enter at the early and "correct" entry and to be alert for possible reversal at the lower channel ?
Tks
David
You may want to take a look at my post regarding Fibonacci terminology ... (#9661)
http://www.forexfactory.com/showpost...postcount=9661
I mean extension which is used on MT4 with "Fibonacci Retracement" tool ...so I will use here on the thread the term FR not to create any kind of confusion.
You are very right regarding zooming out to look at a bigger swing . A combination of both options it's even better .
Can I get your comment regarding "waiting for the ascending channel to break down" ?
What's your choise ? To enter at the early and "correct" entry and to be alert for possible reversal at the lower channel ?
Tks
David
DislikedYou refer to using FE for TPs, but I think you meant "FR". The FE study places two lines on the chart. The FR study uses just the one you showed. BTW, consider how the FR study appears in my chart. You may have used too small a chunk of the uptrend to encompass with your FR study.Ignored