We have eyes yet we do not see. When our eyes are opened, we saw what was always right there in front of us. It is “hidden in plain sight.” I have talking about 88.6% for the whole of this week. Once i know the “what”, it becomes that much easier to find the “where.”
88.6% as a trading strategy, when utilised with other trading tools, should yield profitable results over time. Below is a screenshot of another 88.6% on the AUDUSD 1hr chart.
Do not ignore this simple trading system. Plot the FIBO retracement levels IN ADVANCE. When the markets makes a high and a low, preferably on a larger timeframe such as the 1hr or more, put in the FIBO levels immediately. Then watch what prices do when it retraces to the FIBO levels. If the FIBO levels coincide with previous major support and resistance levels, this gives double confirmation. This should give the trader extra confidence that the trade will be profitable.