Quote:
Originally Posted by kagein
On the GBP/USD hourly chart would you have drawn your fib lines from (1.9726 - 1.9335) or (1.9795 - 1.9335)
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When in doubt, take the bigger grid, or, better yet, measure both grids and look for confluence between the grids.
Image 1: Big Grid - Price action obviously respecting that grid.
Image 2: Smaller Grid - Price action respecting it, but respecting a higher level.
Image 3: Note the confluence at the 61.8/75 levels with both grids? Thats where I would want to get short.
Cheers!