daytrading fibonacci

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razx5

Active Member
#1
#1
helo friends i have a doubt regarding identifyinf high and low of aparticular scrip for fibonacci for intraday trading.suppose a scrip is showing a high of 400 and low of 350 at 10.15am and the scrips breaks 400 ant touches 420 at say around 11am,then to trade that scrip after that wht is the high and low for fibonnacci retracements?is ti (420-350) or is it still (400-350)? and one more doubt is till which retracements u should use for target setting?i mean 0.382 or 0.618 or 0.786?thanx reply soon
 
H

hari09omkar

Guest
#2
#2
razx5 said:
.... wht is the high and low for fibonnacci retracements?is ti (420-350) or is it still (400-350)?
Click to expand...
420-350......
razx5 said:
and one more doubt is till which retracements u should use for target setting?i mean 0.382 or 0.618 or 0.786?thanx reply soon
Click to expand...
Experiment with different time frames and include 33%,50% and 66%......
 
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neo1599

Active Member
#5
#5
Hi,

I would not set much store by fibo for day trading as it is not perfect for that time-frame. It would be better to trade using chart formations.

In the long run its better to use fibo on the daily or weekly charts. Just my advice. May be fibo works for you. In which case best of luck with it.

Neo :)
 
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