These are the Fibonacci extensions I am watching for GBPUSD today :
N1: 1.4138
N2: 1.4119
N3: 1.4088
Current intraday trend likely DOWN
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (1.4044)
TP could be @ Fibo level 0 (1.4170)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
N1: 1.4138
N2: 1.4119
N3: 1.4088
Current intraday trend likely DOWN
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 4 (1.4044)
TP could be @ Fibo level 0 (1.4170)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
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