Scalping with Fibonacci Patterns and Ratios

@schizo -- You have correctly raised the point of how to determine the "optimum" point of drawing the Fibonacci ratio and pattern identification points. @schizo -- as I'm sure you are aware, there are many Fibonacci drawing tools available for different charting programs. Some are much better, then others — for proper selecting the highest probability points to use. Most of these drawing tools allow you to set the points that you are drawing to and from automatically once you have set the parameters that have proven most accurate. After setting up the drawing tool— then it will automatically select the “ Correct" insertion points.

This makes your questioning where to start and end the drawing points not a user decision process or question. I will be happy to show you this with a screen share if you wish -- Just PM me to set that up.

To sum up: drawing the fibs on a chart and choice of starting and finishing points are decided automatically by the Fibonacci Drawing tool settings.
 
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Understanding Market Structure and Fractals based on Choice of Duration = Consistent Profits due to whether your Trading System is either Predictive or simply Reactive. (Easy to Prove to Yourself by studying lots of charts using Fibonacci Patterns and Ratios.(Using appropriate off the shelf tools makes it Easy)
 
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Looks impossibly Complicated -- but it is Surprisingly Simple and using Alerts you need not even look at the charts!
 
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Clear Profitable repeating trade setup
Based simply on Market Structure and Patterns.
Easily to prove to oneself by Realizing: Markets move as a result of participants sentiment.
 
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So yesterday that stock $GL went from $100 to $39 ... a 61 point move. The company came out and said the short report was bs... which it probably isn't and the stock deserves to go way lower. That said, look at today's high before it retracted, $61.45. A near perfect 38.2 bounce off the low.
 
MACD said:
The "Power" of the .382 Ratio and how it fits in to market moves.
@vanzandt nice observation. Thanks for your post.
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It seems to work best, or more reliably at least, in situations like this. The 68 fib oftentimes works on super short squeezes too. Here's another one I pointed out on DJT. https://www.elitetrader.com/et/threads/gba-presents-house-of-gummy.374311/page-1544#post-5946445

If you look, outside of a few errant spikes in the opening minutes on that first day of trading, $74 was pretty much the high level. It hasn't topped that since.
 
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