prochargedmopar wrote:I understand fibs, extensions, and retracements.
I understand that his is set in increments of six.
I'm NOT seeing where he pulls them from based on the last 3 candles.
I really want to take some weekly rides with my account.
you have 3 candles
1st has a range of 100
2nd has a range of 200
3rd has a range of 300
you measure the fib off the middle (range) candle so in this case the 200 one
then you place it on the h/l of the current candle to project that target
so you are always looking at 3 past candles and take the middle (range) one to calc off of
i think that it how you do it---- i haven't really looked at it yet
just saw tman posted when i did----- so i guess that is correct in the way u do it