Please school of pipsology has explained that and I have tried getting to understand it into details before I continue to learn Fibonacci. However, I have not gotten it that well. I think that’s the basis of Fibonacci. Learning ahead of that I understand the Fib levels concept. My only problem is the swing high and low.
Could someone experience give me another explanation if any to better understanding of swing high and low?
Thank you
There is not one single definition that works for every strategy or trader. However, one systematic method came from Marc Rivalland some years ago -
a swing low is the low of a bar or candlestick which is at least the third consecutive bar with lower lows and lower highs
BUT
it is only confirmed as a swing low when price in the next bar breaches the high of the third bar but not its low,.
Reverse for swing highs.
e.g. take a look at the recent daily chart for GBP/CAD
Price printed 6 consecutive days with lower highs and lower lows - 25, 26, 27, 28, 29 June and 2 July. The 27, 28 and 29 June dates were only putative swing lows because price breached their lows the next day. 2nd July was confirmed as the swing low when price on the 3rd breached the 2nd’s high but did not breach the 2nd’s low.
Good!!!
That’s another helpful explanation.
Thank you
I’m only seeing at 1hour chart on the platform.
And that won’t explain what you are saying.
Please could you come again with where I can see the exact eg. I don’t mean to bother you by asking again.
If u confused where to put swing high or swing low,
Put or fibo at weekly or daily candle swing high and awing low
BEFORE
AFTER
This last week fibo at this week price action
Thanks a lot for more details.
Defining swing lows this way on different time-frame charts works exactly the same. e.g. look for at least 3 consecutive 1hr bars each with a lower high and lower low than the one before. the third or later bar in this sequence is a potential swing low. It is confirmed as a swing low if price goes up through the bar’s high in the next bar but its low remains intact.
A very good suggestion, I also use D1 for fibo & support-resistant levels. It’s my favorite time frame.
Noted. I’m appreciative