Drawing Fibonacci levels!

Fibonacci levels !

how many bars do you use for draws fibonacci level in h4 or d1 time frame ?

thank you

I don't think there is definitive amount. Just use what looks obvious because that's what everyone else who uses fibs will be doing.

normally you will draw it from high to low...use major support and resistance point

I would recommend to use significant points for fib drawing. Significant means significant on the chart. Well tested levels, round numbers if tested, avoid long shadows unless they were significant on a lower time frame, etc...

Regards,

Nader

I use c.a. 200 bars. More important is to have the fibo pattern in good proportion with the whole setup.