Disliked{quote} My opinion: long candles are always more dangerous for a retracment, but not bad in itselves ,cause maybe it's really a breakout candle. Often when there is indecision for quite long time in pair, and in concomitance with red news (even if data nothing exceptional or far from forecasts) used by fat cats to drive the market, we see this long missiles jumping. Personally if conditions met and SL not too far i tend to take the trade anyway; of course you have to have savvy MM and coverage for the retracment with a decent SL (the 161.8 TRADE...Ignored
But Im getting little confused here ... aren't we put stop loss on 61.8 for short when it breaks the 38.2 level with all conditions met and SL at 38.2 for long if it breaks the 61.8 last week fibbo ??? so what is the 161.8 ?!?!?!