I don't rely on fibs on lower time frames. Trend lines, round numbers, channels, sma60 etc are good .. but I consider 'tolerance' around them
I wouldn't typically enter a trade on a bounce or break until I see the trend* confirm it on a lower time frame.
For exits, it's difficult to use trend* as pips will be left on the table. If you didn't already exit for the maximum pips handed out, you should exit when you see trend* change.
trend*:
UP: Higher High, Higher Low
DOWN: Lower Low, Lower High
I wouldn't typically enter a trade on a bounce or break until I see the trend* confirm it on a lower time frame.
For exits, it's difficult to use trend* as pips will be left on the table. If you didn't already exit for the maximum pips handed out, you should exit when you see trend* change.
trend*:
UP: Higher High, Higher Low
DOWN: Lower Low, Lower High