Fibs work off of moving averages not linear lines. Multiples of 20-day trading cycles. The yellow and white lines are the immediate support. Secret Sauce formula works on all times frames. This is how I know when to get in and out of a trade
Note
All the lines are just pure coincidence :)Note
As expected the hourly chart shows the price bouncing off the white line which is my buy line
Note
It needs to touch that yellow line to fully consolidate to make next move
Note
What the 5 minute chart looks like
Note
As you can see on the 5 minute chart above putting your buy limit at yellow line would of got you in at 10100 and set your stop loss at just below yellow line now keeps you in trade for maximum timeNote
Here we are at the Fib 0 line on the hourly, see how it bounces between the Fibs?
Note
Here we are to the White line the Secret Sauce line, will it hold? Any bets?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.