FRACTAL BASE FIBONACCI OFFSET - AUDJPY
Using the fibonacci tool on the market structure break upleg does not always give an entry as price turns before the golden ratio quite often. Over a sample size, if you study the market structure break upleg/swing you notice that it occurs in three legs mostly.
The retracements of the market structure break never make it to the first leg and most times the retracement occurs to the second leg before another swing up of same length as structure break swing.
To catch this retracement I usually identify the fractal bases before the structure break swing. In my own logic,the fractal base is the upside down V with two lows; the last one lower than the first since it is the liquidity grab (liquidiy grabs occur before markets change direction).
Having a fib stretch from the first(and higher) low to the high of the market structure break will often give you a golden ratio/ optimal trade entry on retracement!!
not financial advise
The retracements of the market structure break never make it to the first leg and most times the retracement occurs to the second leg before another swing up of same length as structure break swing.
To catch this retracement I usually identify the fractal bases before the structure break swing. In my own logic,the fractal base is the upside down V with two lows; the last one lower than the first since it is the liquidity grab (liquidiy grabs occur before markets change direction).
Having a fib stretch from the first(and higher) low to the high of the market structure break will often give you a golden ratio/ optimal trade entry on retracement!!
not financial advise
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