So I’m using this tool in Tradingview. It’s called Fib Retracement. Do you place this on the wick of the higr or low candle or do you use the body of the candle?
Personal preference maybe?
Wicks is what I use!
Here’s are some links to the two lessons here on fibs:
Oh cool. In the pictures they’re hitting some of the wicks. Thanks for sharing!
Wicks on higher time frame will most likely be bodies on the lower one, so it makes sense to set the levels from wicks
Below is the example of H1 chart with Fibonacci drawn on D1 timeframe.
Blue is from wick to wick, red is from body to body. On H1 you clearly see, that red one does not “fit” to the price move:
I use the wicks personally. Some will use the bodies as that is where the volume is.
I use the Wicks to as its still part of price and as such indicates Institutional intent so to speak
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Hey thanks for the pic and explanation. Super helpful!
What do you mean by this?