For upswing stocks:
Positional Trades: Plugin the low of Intermediate Low and the recent high for Long entry. In case, if SL is hit, for the reversal of trade, Reversal TGT is given, with SL being the first entry level.
Intraday Trade: Plug in the previous day low and Closing price for LONG entry. In case if SL is triggered, Reversal Tgt are given
For Downswing stocks:
Positional trade: Plugin the High of Intermediate swing and the recent low for short entry. In case, if SL is hit, for the reversal of trade, Reversal TGT is given, with SL being the first entry level.
Intraday Trade: Plug in the previous day high and Closing price for SHORT entry. In case if SL is triggered, Reversal Tgt are given.
Important:
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Always have two points as filter for SL.
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By default, “C” value is taken as 38.2% retracement of swing, for calculating the TGTs (Fib Expansion)
Caution: You should always trade using both charts and Fibonacci together. Charts at times work better than Fibonacci ratios, and vice versa. You need to take advantage of which one works well during real trades. When you combine and use both charts and Fibonacci technique, you have high probability of trades. Whether Fibonacci calculator can be used as a STANDALONE basis, is only for the trader to decide.
