A Simple Rules
Original Time Frame: 1 hour
Find an impulse leg, name it X to A.
Then for the B point:
Minimum retracement is 38.2 of XA.
Maximum retracement is 61.8 of XA.
C is the extension to a minimum 127.2 of XA but no candle close beyond 141.4.
Move the fib at the A point to a completion of C to find the 78.6 retracement of XA.
Draw the fib from X to C to find the D at the 78.6 retracement. That is the PRZ.
Stop loss is 10 pips above/below X.
Target 1: 38.2 of CD
Target 2: 61.8 of CD
Enjoy...!
Original Time Frame: 1 hour
Find an impulse leg, name it X to A.
Then for the B point:
Minimum retracement is 38.2 of XA.
Maximum retracement is 61.8 of XA.
C is the extension to a minimum 127.2 of XA but no candle close beyond 141.4.
Move the fib at the A point to a completion of C to find the 78.6 retracement of XA.
Draw the fib from X to C to find the D at the 78.6 retracement. That is the PRZ.
Stop loss is 10 pips above/below X.
Target 1: 38.2 of CD
Target 2: 61.8 of CD
Enjoy...!