How to draw and identify correctly swing high and lows for fibo retracement? I saw the lesson in the school but it was a not enough for some reason.It didn’t explains clearly or atleast i cannot get it right sorry.Can some1 explain it in more detail pls 
Try Utube. There’s some good videos that explain it
They are the obvious peaks and troughs in the chart. There is no universal way to identify them, as they are a subjective pattern when developing.
Thank you.The school also mentions that usually a swing high is the highest peak but it should have 2 lower peaks in their neighboorhood,but what if the high swing is a tweezer tops and both as the same candles,from which one should the swing high be drawn from the recent one or it does not matter.
And what if a gravestone doji is at the peak and no lower hights in the nearby is that a valid swing high point?
The current peak or trough depends on future events, thus the current swing high/low is an estimation only - whether it is valid or not depends on what happens in the future.
it is really easy, your trading platform should have a fib retracement tool,
if it doesn’t, I seriously recommend changing broker,
for support, from the swing low “wick” to the swing high "wick"
for resistance, the same thing but from the swing high to the swing low
if you are in a up trend, higher highs and higher lows,
you obvilously should use from low to high, for possible support,
and in a downtrend High to Low
I bet you copied that from the school 
However my question is not how to draw fib tools,it is how to identify swing high and swing low.
goldenmember had answered the question partially and I thank him for that.But i`m really curious about
So lemme clear up my questions 
1)
How 2 candle patterns affect swing points,and from which candle should i draw them in the case of a tweezer top or bottom,the first or the second.Now i know this might sound insignificant but i`m learning a scalping tehnique in small timeframe so I must be very precise :).
2)
¤ So in the 1st picture (left) i cant draw the swing high where i did because not enough confirmation.I should wait for that gravestone doji to form (3 candles to left from the one i circled).I identified a possible short.
Now i`m opening my fibo retracement tool.The question is should i draw the swing high from the one i circled or from the doji?
¤ And for the 2nd pic (right),if i place my order before the #2 swing high then i choose the high point the #1 swing high,but since my order is on now and now i see the 2nd swing high form,should i adjust the take profit/stop loss and the swing high of the fibo to the #2 swing high, or keep it as it is.
¤ Also what if I wait for the 2nd swing high to form before i place an order (since an evening star-like thing is a better confirmation for trend reversal),from where to draw the swing high now,the recent #2 point or the #1 point
¤ The swing low is obvious…
[QUOTE=“Proximus;503150”]I bet you copied that from the school 
However my question is not how to draw fib tools,it is how to identify swing high and swing low.
goldenmember had answered the question partially and I thank him for that.But i`m really curious about
So lemme clear up my questions
How 2 candle patterns affect swing points,and from which candle should i draw them in the case of a tweezer top or bottom,the first or the second.Now i know this might sound insignificant but i`m learning a scalping tehnique in small timeframe so I must be very precise :).
<img src=“301 Moved Permanently”/> <img src=“301 Moved Permanently”/>
¤ So in the 1st picture (left) i cant draw the swing high where i did because not enough confirmation.I should wait for that gravestone doji to form (3 candles to left from the one i circled).I identified a possible short.
Now i`m opening my fibo retracement tool.The question is should i draw the swing high from the one i circled or from the doji?
¤ And for the 2nd pic (right),if i place my order before the #2 swing high then i choose the high point the #1 swing high,but since my order is on now and now i see the 2nd swing high form,should i adjust the take profit/stop loss and the swing high of the fibo to the #2 swing high, or keep it as it is.
¤ Also what if I wait for the 2nd swing high to form before i place an order (since an evening star-like thing is a better confirmation for trend reversal),from where to draw the swing high now,the recent #2 point or the #1 point
¤ The swing low is obvious…;)[/QUOTE]
You just follow the price up or down with the retracement plotted on the chart,
In other words, you adjust it, when and if price close above/below 23.6 fib level you should
Seriously suspect a swing high or low have been formed, you can also use fractals or both fib and fractals,
However there is no way you can really confirm a swing high/low until price has taken out the previous swing high or low.
But then a entry could be too late. You can also learn to use fib clusters to further pinpoint a strong level for a swing high or low.
The swing high is the highest point so in pic 2 it is circle 1.
[QUOTE=“Proximus;503150”]I bet you copied that from the school
However my question is not how to draw fib tools,it is how to identify swing high and swing low.
goldenmember had answered the question partially and I thank him for that.But i`m really curious about
So lemme clear up my questions
How 2 candle patterns affect swing points,and from which candle should i draw them in the case of a tweezer top or bottom,the first or the second.Now i know this might sound insignificant but i`m learning a scalping tehnique in small timeframe so I must be very precise :).
<img src=“301 Moved Permanently”/> <img src=“301 Moved Permanently”/>
¤ So in the 1st picture (left) i cant draw the swing high where i did because not enough confirmation.I should wait for that gravestone doji to form (3 candles to left from the one i circled).I identified a possible short.
Now i`m opening my fibo retracement tool.The question is should i draw the swing high from the one i circled or from the doji?
¤ And for the 2nd pic (right),if i place my order before the #2 swing high then i choose the high point the #1 swing high,but since my order is on now and now i see the 2nd swing high form,should i adjust the take profit/stop loss and the swing high of the fibo to the #2 swing high, or keep it as it is.
¤ Also what if I wait for the 2nd swing high to form before i place an order (since an evening star-like thing is a better confirmation for trend reversal),from where to draw the swing high now,the recent #2 point or the #1 point
¤ The swing low is obvious…;)[/QUOTE]
after looking at this again, I understand why this was confusing,
I didn’t realize this at first so my reply might have been useless to you,
Yes, swing high number 2 is indeed a swing high too, But at a lower timeframe,
you should always draw your retracements from the lowest to the highest point, or vice versa,
And disregard swing high number 2 on the picture because it is not the highest point on you current timeframe,
Of course you can draw retracements on swing high number 2 also, they work as you probably know the same on all timeframes,
But then I recommend you drop down to that particular smaller timeframe otherwise Your chart will be full of lines and hard to read,
there is nothing wrong with drawing them all on one chart either if you know what you’re looking at,
If you would also draw from swing high 2 on the same chart, then the lowest point would be the green candle below it,
Anyways, rules are, highest to lowest, lowest to highest
,
,
Just a simple rule of thumb- the swing high/low points are at the extremes in the start of the present price movement. In picture number 2; you would use the stick designated as one since two never broke the plane established by stick one. This is just general breathing of price in market movements. When you’re looking at drawing Fibs, you’re always looking for extreme points. No extreme point, no swing.
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Thank you for your great answers.I think it is now clear.So I understand that the market behaves like a fractal (same structure and price movement behaviour on all timescale),but usually higher timeframes than 3 min is recommended for fibs,since it works best with trends which is hard to measure at low timeframes.I mainly worked with 5 and 15 min timescales and Im pretty sure ill stick with these.The fib tool would be a great addon for my scalping strategy and combined with some good indicators it will form a good system.Btw the pictures were taken from a 5 min timescale from EUR/USD from november 2012.
[QUOTE=“Proximus;503627”]
Thank you for your great answers.I think it is now clear.So I understand that the market behaves like a fractal (same structure and price movement behaviour on all timescale),but usually higher timeframes than 3 min is recommended for fibs,since it works best with trends which is hard to measure at low timeframes.I mainly worked with 5 and 15 min timescales and Im pretty sure ill stick with these.The fib tool would be a great addon for my scalping strategy and combined with some good indicators it will form a good system.Btw the pictures were taken from a 5 min timescale from EUR/USD from november 2012.[/QUOTE]
You are welcome, I have discovered that below 15 minutes the fibs isn’t
Always exact, because of that I don’t use them any lower than that,
If you like to scalp using fibs, you should check out Carolyn Boroden
A.k.a Fibonacci queen Google, learn to use fib clusters and buy her book.
She is probably possess the most knowledge on Fibonacci
In the world, this stuff really work
Thank you.I`m curious tho how much time you go back in your 15 min chart to find those swing points.Cos I usually look only patterns within the same day.
[QUOTE=“Proximus;503765”]
Thank you.I`m curious tho how much time you go back in your 15 min chart to find those swing points.Cos I usually look only patterns within the same day.[/QUOTE]
What you need first of all is a trend,
Higher highs lower lows, or opposite
For a downtrend obviously,
So that you trade only in the direction of the trend,
If I draw clusters I will use all main highs and lows during the time it was either uptrend or downtrend,