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...!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.