I tell every new student this, “If you give 10 people a chart and ask them to draw Fibonacci levels on it, you’ll get 11 different draws.”
If you draw fibs correctly, you get highly accurate entry and exit levels; case in point below.
- Short entry level = 4539.25. High = 4539.25
- Target Hit at 4509. Low = 4509.
- Re-entry long = 4509.
- Short entry again = 4535 – 4539.
NASDAQ E-Mini Futures – 1-hour chart
Thanks for reading and always use a stop !