Quote:
Originally Posted by hypnos63
thanks kagein.
my original question is how does a trader know when the swing/trend has reached its highest value/high point/top, so that he can get ready to short it with the 23.6% or 38.2 % fib as targets ?
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By you drawing your fibs backwards, you're not on the right % when making your decision. The other thing is that no one knows when the top or bottom is reached.
When you draw your fib grid properly, the 61.8% retrace up is your target (give or take) for you to go short in a down trend, not the 23 or 38 (except on your grid it actually is... but ....it won't make sense in the overall concept of fib retracement.)