Theorically,
You can draw as much as you can...
Maybe this fig can explain it...
It need many practice...
I'm also still practicing this method....
Quote:
Originally Posted by Trade It
The thing I don't understand about using Fib. is how often should you draw new retracement lines? The retracement is supposed to be from a candle with higher lows on each side to candle with lower highs on each side right? How often should you change to a different set of candles?
I too am curious, because it seems alot of traders use them. I just don't understand that one concept. Can someone help me out here?
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