One percent a day for 200 days...makes what... https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-25#post-5537130
I notice fibs if they're around will use them for support or resistance if a price action trigger happens on one, but standard procedure involves lines that draw themselves.
you have so many lines, ma's-volume- i have just two vertical monitors, with eurusd with different time frame on each (pretty basic) and just using fib levels and pattern recognition. It probably wont work for 99.9%. How you doing .
Works for me. edit It's way easier to benchmark setups with lines that draw themselves. They are consistent and objective. While Fibs can provide fine S/R, unless a guy has special software he's gotta draw them which can be subjective. I'm more likely to use a higher timeframe (60 or 30 minute) fib that appears and gets a reaction repeatedly on a 1minute chart than keep the 1m chart populated with Fibs. The Fib Fan (green lines) was a hella interesting experiment and now that think about it could be a one time application, multi use tool without too much work at all. The problem with that is that every additional line takes a slice out of the concentration pie, so I agree with you there for sure.
easy, sorry i have not a clue in how you are trading regarding benchmark, software, green lines, pie.but as you say if it works , main man. i just trade high-low retrace (trade in -trade out)
How I are trading - Setups that trigger at support or resistance. As for green lines, here's the last one posted in this thread but they're linked back to the previous ones to give a feel for how price got there. Benchmark = stats. when it comes to setup / triggers - first comes stats to see if they even might work. Due diligence. software = SierraChart but the stuff that marks out Fibs for you, here's the guy who has it and it appears that it could be a hella good tool. Hope to see some of your charts sometime. Nobody expects you to show your hole card.