There are many trading techniques and methods traders use to make trading decisions.
The one I would like to address here in this thread, is the Fibonacci Fan:
On an '' up '' Fibo Fan; do you short when price breaks below the 61.8 Fibo trend line, or do you wait for a breach of the 0.707 level to short? Do you place your Stop loss at the previous Swing high? Or, would you even consider taking a long, at lets say, the 0.786 or 0.886 level? (all above vice versa for a '' down '' Fib)
I would be interested to hear how you take advantage of this tool.
The one I would like to address here in this thread, is the Fibonacci Fan:
On an '' up '' Fibo Fan; do you short when price breaks below the 61.8 Fibo trend line, or do you wait for a breach of the 0.707 level to short? Do you place your Stop loss at the previous Swing high? Or, would you even consider taking a long, at lets say, the 0.786 or 0.886 level? (all above vice versa for a '' down '' Fib)
I would be interested to hear how you take advantage of this tool.