Qtn to FibMaster - Drawing Fib. Lines

[Maverick27]

Hi Neal,

I've just purchased Fibmaster Video seminar, order # H52TVTJD.

I have a basic idea of Fib. concepts but i've yet to see the fabulous videos.

Meanwhile, i was wondering if you kind be kind enough to advise if i've got the 'HIGH' ; 'LOW' & 'PULLBACK' points correct when drawing Fib. lines.

I'm attaching 3 charts of 15min GBP/USD.
Attachment - GU Downtrend shows the overall downtrend starting from price range in red box.
Attachments - GBPUSD Trade Impulse 1 & 2 shows trading range or trading time (Purple box). Note the Fib. Ret./Ext levels (Points A,B,C) & also profit taking points (Blue circle)

Can you advise if i've understood correctly the principle behind re-adjusting Fib. lines as price makes new HIGHS & new LOWS OR do i simply re-adjust Fib. Lows (point B) as new LOWs are achieved from beginning of downtrend as shown on GU Downtrend attachment ?

Thanks - DC

FibMaster's Fibonacci Training Videos

[Maverick27]

Originally Posted by Maverick27

Hi Neal,

I've just purchased Fibmaster Video seminar, order # H52TVTJD.

I have a basic idea of Fib. concepts but i've yet to see the fabulous videos.

Meanwhile, i was wondering if you kind be kind enough to advise if i've got the 'HIGH' ; 'LOW' & 'PULLBACK' points correct when drawing Fib. lines.

I'm attaching 3 charts of 15min GBP/USD.
Attachment - GU Downtrend shows the overall downtrend starting from price range in red box.
Attachments - GBPUSD Trade Impulse 1 & 2 shows trading range or trading time (Purple box). Note the Fib. Ret./Ext levels (Points A,B,C) & also profit taking points (Blue circle)

Can you advise if i've understood correctly the principle behind re-adjusting Fib. lines as price makes new HIGHS & new LOWS OR do i simply re-adjust Fib. Lows (point B) as new LOWs are achieved from beginning of downtrend as shown on GU Downtrend attachment ?

Thanks - DC

Hi Neal - don't bother answering this qtn. 'coz i've watched the vids.

FibMaster's Fibonacci Training Videos

[FibMaster]

That's exactly what I was thinking! The video seminars explain it well.

Apply those techniques often, you'll see charts differently.

-Neall.