Drawing fibo on the d1 time frame

Technical Analysis
B
budi
14 Jul 2018, 08:56 623 Views
Hey, how do you think about this, if a strong trend exceeds 5 candles, can you give an example?
If it is drawn from the swing low of D1 timeframe for 5 candles, then changed to the H1 timeframe, isn't it too long?

1 Answer

M
martin 17 Jul 2018, 06:45

@ Budi:

Whether it's an extension or not is relative, depending on how you will do the analysis.
In this case, if you draw a trend line from the daily time frame, then for lower time frames (H4, H1, M30 etc) the high and low points will appear more clearly.
This does not apply vice versa. If you draw a trend line from a lower time frame and then monitor it on a higher time frame, it will be less accurate.

Here's an example on EUR/USD:
Draw an uptrend line starting from June 28, 2018 on the daily time frame, then compare it to the H1 time frame:





Add Answer

Loading editor...
Back to Forum

Forum Fibo

view all

Testimonials Fibo

view all