Things with fibs: A toolkit of strategies using fibs for entries, stops and targets.

[HoleyProfit]

So here in the high RR version we have a reaction off the support and possible structure break to the upside.

At this point we can move this stop to slightly under even and get to freeroll for 12R.

Any time you can freeroll for 12R, that's a good thing. Someone put that on a T-shirt.

 

[HoleyProfit]

We inform our area to trail stops by using pending bearish patterns. Here we have a 76 fill.

The tendency here is a 76 high or a break of 76 and it holding a retest of the 76 - 50 fibs area. This doesn't happen all the time, but it's one of the norms I like to bet on.



Inside of that norm, it makes no sense to keep risk on now. If it's a 76 top I want out and if it's a 76 break my trailing stop at even should not hit.

So now we have a free attempt at 12R with a clean thread of logic as to why it makes sense to make this bet, at this time and trail stops at this point.

 

[HoleyProfit]

Adjusted stop hit. Another essentially even exit.

Next fill.

And I've found when I post these online people laugh at me for getting stopped out and buying again but the RR is exponential. And most losses are papercuts. It's good for PL.

 

[HoleyProfit]

Stop to just under the low on the filling of the first possible bear signals. Bad look for the bull move if we break again.