DislikedApologies if this has been covered before, but with so much information on here I may have missed the answer. Noobie mistake, but I seem to have charts with a plethora of fibs and PPZ lines; sometimes it is hard to see the candles. How do I determine which fibs and PPZs are important? Is this approach reasonable: Fib on weekly covering year high/low Fib on weekly using most recent peak formation high/low Fib on daily covering most recent peak formation high/low On daily two or three PPZs above current price based on most recent resistance, if looking...Ignored
The best tip I give to people starting to draw PPZs is realize that we are going to have everything from very major PPZs to very minor PPZs. Start by drawing and looking for the very major obvious PPZs. Keep the minor PPZs off your charts. Look for confluence or stories around the major PPZs to trade. Then once in a trade draw your FTA(ftas) and minor PPZs. Use those for trade mgmt. Too many people try to trade off every S/R area and thus as you can see will lead to a lot of trading cause we have s/r all over the place. This is something I find can help
Best
Mike