DislikedHi Sisse,
doing obscenely good lately again.
You already know about the dustbin trade(r)s, don't you? Basically, they're employing st-charts and looking for respect/rejection of levels that are 20 pips apart. 20 pips for each level on the fib-tool means each level is 100% apart from each other. I look for consolidations that set the boundaries of levels for the future, always. What you can do on m5 with 20 pip-levels, you can as well do on H1 for 50 pip-levels and on H4 for ~120 pip-levels.
The dustbin traders take small profits between 12 and...Ignored
I get it now. So you are cutting the space between fibs in measurable spaces (50 ticks sound logical given options and 20 ticks sounds reasonable for this year volatility ....it may reduce during the summer to the 10s....) well seems very rational and logical.
Dow, Gann, Murray and Pivots are all based in the same principle of dissecting a move in manageable parts. SO I guess given the small space in between it reduces (and make it easier to manage) stops with the price of a lot more micromanagement and screen time during a move...sounds good and nice and if its working for you ...
Keep up the good work mate and good luck.
sisse
Pending conversations? PM for a chat...I am mainly in OTM now
