Quick Fibonacci Question

Quick Fibonacci Question

What is the best time period chart to use Fibonacci retracements with?


That rather depends on the trading style being used, but Fibonacci basically gives you indications of S&R levels. S&R levels are stronger on higher timeframes, generally. I like to use Fibonacci on the Daily chart, I find that it works well. But ask ten traders, you will likely get ten different answers. So I would just play around with it on your charts and see how it interacts with your strategy.

Agree with Simon Templar.

Fibo is used as an S or R level hence it is not time dependent.