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....Like I said, the 78.6 is a favored observation if it happens to hit on a Round Number/prev swing point.
I focus on the mid-term momentum plays quite a bit these day's, utilizing the 240-5m combo. That Fib point often gets me in with decent r/r - or gets me out at a keen pare level.
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Soultrader:
The 35/50% s&r levels played out again today!
Printed a neutral bar at the high of the Tokyo shift (50% resistance level), & cont'd down thru the Asian low as London came on board - triggering on the break of the Asian low (London Open) signalled good momentum today
the lower 2 support lines only briefly tested before bottoming out into the London close @ the Big Number/78.6% (from recent swing move)......
Briefly glancing at Raul's "Breeze" Strat, looks like he executes a similar simple, yet effective momentum based trigger.....I'll have a more in-depth read of it later!