Yea I don't tend to do it that way, I look for a rally of a certain swing size depending on the volitility of the currency, wait for a fib retrace, wait for the high of the low candle to be broken then trade the 3rd and 5th waves from there, easy 1% doing this and then set a stop bellow the max retrace for fib which is 60ish. That is in general you have to look over a fair bit of data first to see what wave you are really trading.
Cheers
Tejay
re-forex att: deboral005, page-10
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