Fibonacci levels

FTMO Trader Scouting


Well-Known Member
How long and on which timeframe do you typically observe Fibonacci levels before making decisions to open or close positions?
Fibo level 62% retracement area works well when retracements are set for continuation. I use it as minimum structural retracement level and it works really good if you have an extrinsic reason to put a trade in (I mean, fibo per se does not work).

1:1 and 1:1.5 expansions are also useful. If you project your expansion off the structure that caused, it, you will see 1:1 to 1:1.5 are good targets.

All the timeframes are the same, prices are fractal.
FTMO Trader Scouting