Still need to understand about your Peak, Valley, and what happen when it cross 50 many times.
I am ignoring many price bars that re-cross 50, if those price bar was not much different from when I did the original Fib.
And the other part I need to work out is knowing where to reverse the Fib direction from uptrend to downtrend.
this is the trickiest part for me to determine too, sometimes I thought it was a FIB direction reverse while in fact it was just another of those re-crosses of level 50 stoch (retrace/correction), I guess the best way to figure this out is by looking at the bigger timeframes, again...still need to tweak this method BIG time
I have not keep moving Fib upwards as don't have an appropriate process to move it up as yet, perhaps like you said once Stoch reach the Valley, the Valley is the new Fib 0%.
Is this the correct understanding of how you move the Fib, during the Valley, in the uptrend ??
yes, that's how I've been doing it, move the FIB 0% each time it makes a new valley in an uptrend OR a new peak in a downtrend. But maybe you're right, maybe we could just stick to one FIB 0% as long as we know which one we should be sticking to, and use the above FIB 100% targets which are correlated with bigger TFs
For Range, IF we know it is going to be in Range, is better to go to the smaller timeframes like M15, M30 will hit the Fib 100% as well.
smaller TFs are the best to scalp during ranging times
but as you said, that is IF we know we're in a range
Hope the above explains.
it really does buddy, thanks very much for the explanation...very happy to have others to tweak this method around
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