Help in identifying fibonacci uptrend or downtrend
Submitted by laurentyew on August 20, 2008 - 20:57.
Hi Folks,
Thank you in advance for all the help. I'm having problem identifying when would it be the time to identify it is a fibo up or down trend. Attached is a sample that maybe you guys can help out. Thanks a million
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where is the attachment?
Admin, please publish the drawings I sent.
Rego
thanks,
so, the idea is, in down Fibo when price retraced more than 61.8%, you draw new - this time uptrend fibo on that long retrace.
Rego
check out the system
http://forex-strategies-revealed.com/fibonacci-system
there is, in particular, an idea on valid Fibonacci retracement.
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