One quick question. When I am setting up my Fib tools and resistance lines…do I set them up against the actual “close” of a candle or at the wick?
Good question - I’ve been wondering this myself.
I see that on FX360.com the Kathy Lien’s and Boris Schlossberg’s of this world draw them from the wicks. So that’s now what I do.
Use the wicks, they are the swing highs/lows.
There is really no wrong way to draw Fibonacci lines. It’s all about the implementation of them and how you interpret what you draw.
That being said, I draw them from the high of the range to the low of the range.