I know its been several days! I finally was able (with some help) to get back onto the recording video train. There for awhile The Trend was shut down because I couldn't get videos to load. Once I had shot them, clicking on the publish bar would make them disappear into the great beyond. We're over that now, and we're back to work!
Today we have to throw out some bad analysis and take a look at the new stuff, and open our minds a bit. The most important thing we cover is protecting ourselves from bad ideas! Use your stop-limits, and if you're privy to it, use stop-buy's as well!
Hi Glen. I've noticed you're placing your fib start and end points at on the full candle and not at the end of the wick. Is there any reason you're doing this. I thought you were supposed to place them at the end of the wick.
Thanks! Steve
blessmywork
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@CryptoSteve56584, Hi Steve!
You certainly could. Why don't I? That is how I choose to reframe your question.
I want to throw out the extreme transactions which execute due to low liquidity. That is, I trade in such a way that I need to have volume. Lots of volume is my friend. This means I need to analyze the price action WITH volume, and not where there is very little. So, I choose to toss much of that volatility out which is related to the low volume swings -- this is also why I use Heikin Ashi candles. My fibs are from bar to bar, in order to measure the price action within the relative bands of volume during that timeframe. I am only interested in forecasting THAT price action (the price action within the volume range) and again, this is why I utilize longer timescales so often in my analysis.
I hope that helps!
CryptoSteve564
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@nukenowakowski, Very interesting, that does help thank you!
Thanks! Steve