This is an example of pulling back on a swing fib looking long. I think this is an inferior method of fibbing but if you have charts laying around with these on sometimes things show their knickers.
This signalled at the green BUT in my opinion was not tradeable until it confirmed on the 50 of late... it found the path. the patient man got at least 650-700 pips with almost no drawdown(depending on entry).. and I suppose a razor tight stop if risk reward is an issue.
this is what I mean gents about waiting for price to find the fib. If price is meandering like a drunken shepeard through your fib... well I would be not trading that. Swing fibs need confirmation..I find 61.8 fibs well the confirmation is built in from the get go.
this was a big missing piece of the puzzle with fibs for myself since trading them was often an enter blindly and whiten my knuckles. Test this concept out. A lot of things were going on but then it found the fib and came out of it's haze. You can only trade what you see and every movement of price on a chart is reacting to some fib on the way to some target if price is reacting to your fib.. well you have a very good trade frame.
I don't care if this took 45 months to set up. This one trade would mint you. How long would you wait? Patience is the biggest key to fibs for me.
TK
Crimson areas are where I would have put risk.
Edit: my anchor is off piste it looks better with it clicked...
This signalled at the green BUT in my opinion was not tradeable until it confirmed on the 50 of late... it found the path. the patient man got at least 650-700 pips with almost no drawdown(depending on entry).. and I suppose a razor tight stop if risk reward is an issue.
this is what I mean gents about waiting for price to find the fib. If price is meandering like a drunken shepeard through your fib... well I would be not trading that. Swing fibs need confirmation..I find 61.8 fibs well the confirmation is built in from the get go.
this was a big missing piece of the puzzle with fibs for myself since trading them was often an enter blindly and whiten my knuckles. Test this concept out. A lot of things were going on but then it found the fib and came out of it's haze. You can only trade what you see and every movement of price on a chart is reacting to some fib on the way to some target if price is reacting to your fib.. well you have a very good trade frame.
I don't care if this took 45 months to set up. This one trade would mint you. How long would you wait? Patience is the biggest key to fibs for me.
TK
Crimson areas are where I would have put risk.
Edit: my anchor is off piste it looks better with it clicked...