Quick Fibonacci Question
What is the best time period chart to use Fibonacci retracements with?
thanks
-PGh
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.