From the last publication, this is the example of how to use it in 1H of which I use the same set.
This is a possible swing position that is playable if you consider the R:R.
Entry:
I entered in between the overlapped Fibs of the small degree swing. Actually at 16k is the best bet where overlapping 0.68 lie.
Target:
1. I am looking for 17.7k (0.38 level) which is the larger degree swing retracement as 1st Target in case we continue ranging. Part of the position can be took.
2. If it breaks, I am aiming at 19K for sure and I might also try to Short it. 19K shows solid confluence of 0.38 level of the largest degree retracement and 0.618 of the second largest.
Reaction can be expected there. Thus, you may be able to find a short correction swing that can be profitable.
Stoploss:
I will stop at the lower low because it means both ranging case and bullish case is falsified and we are continuing lower with extreme bearishness.
**** However, you may use other indicators for timing entry/exit or analyzing the swings as well, i.e. RSI is very useful
This is a possible swing position that is playable if you consider the R:R.
Entry:
I entered in between the overlapped Fibs of the small degree swing. Actually at 16k is the best bet where overlapping 0.68 lie.
Target:
1. I am looking for 17.7k (0.38 level) which is the larger degree swing retracement as 1st Target in case we continue ranging. Part of the position can be took.
2. If it breaks, I am aiming at 19K for sure and I might also try to Short it. 19K shows solid confluence of 0.38 level of the largest degree retracement and 0.618 of the second largest.
Reaction can be expected there. Thus, you may be able to find a short correction swing that can be profitable.
Stoploss:
I will stop at the lower low because it means both ranging case and bullish case is falsified and we are continuing lower with extreme bearishness.
**** However, you may use other indicators for timing entry/exit or analyzing the swings as well, i.e. RSI is very useful