Dislikedaebab,
fxsense doesn't appear to be around.
Will you read his post (below) and tell us how a short entry at 1.3775 is consistent with the 74 (78) rule?
I think we can all learn from it.
Thank you
While naysayers are busy whining and copycats are still scratching their heads, the group already made the killing today.
This is my personal exp, others might have made much more.
[10:43:52 AM] fxsense says: [b]No. I am currently concentrating only on NY...Ignored
This is not a rule trading , this is only a trick or maybe you can say a technic . Most of the times when 76.4% is broken you will meet 61.8 % and if this line and specially 50% is broken then it may meet 38.2% and then 23.6%.
This fibonacci is suitable for Scalpers and FXsense is a scalper and she found Aboonacci system to help his/her scalping .
I found this method the time I started to study behavior of market .Any candle and any reversal should be interpreted . I do not use it now so much but I use it when I go short and I do not use it for reversal as I have many other technics that help me to find the trend .
Learn to walk before you run