Fibonacci Trading: How to Master the Time and Price Advantage
Author Tip
Over the years, I have told my traders that this trading methodology can be applied on any time frame. For example, I have seen perfectly formed two-step patterns or symmetry setups on a one-minute chart and even on a tick chart. As far as timing is concerned, what is the lowest time frame that you would want to run your timing work on? Personally, I don’t go lower than a 15-minute chart except “for kicks” every once in a while. This next example is a “for kicks” example on a five-minute chart of the e-mini Russell contract. Figure 12-9 shows that a low was made within one five-minute bar of the standout on the histogram. I suppose someone could run these cycles on this time frame if he or she were updating only a couple of charts during the trading session. Much more than that would make it difficult to keep up.
FIGURE
12-9
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