Hi Gmund, appreciate the advice. I started my fib at 4.1c because that is where I think the "Move" started from. It also fit the 0.382 pull back from 0.056 better. As Fibonacci is a mathematical pattern, I thought the "best fit" type approach for the candles makes more sense than following hard rules for placement (within reason). I've also seen Zior starting his Fibs not from the absolute low. Do you recommend always starting your Fibs from the low regardless?
I appreciate you showing your charts and explanation, regardless of whether it played out exactly as you thought. I'm more concerned with learning about the majority situations for general consistency, not an anomaly which is what I feel IMU is currently - irrational. So keep em coming.
What are you looking for on the 15min for pivot points? Several topping wicks? What would a pivot candle look like on the Daily? Would you mind posting if/when you see it so I can to note? I am currently using the 1hr to watch the momentum as the 8ema seems to be holding the trend well, I feel if that is broken it could be a good sign of a pivot possibly? It is a long way to fall to reach that though so would be good to know how to read the smaller time frames (like the 15min) better.
Cheers!
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Hi Gmund, appreciate the advice. I started my fib at 4.1c...
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