[torero]

When you place fib grid, you have to know what you want, a price projection or retracement. Once you've determined that, you have to determine your nearest high and nearest low. Depending on your timeframe and your style of scalping or intraday trading, you can determine if the distance of your target and stop loss to fit in with your style. It look like you did ok on the 2nd chart, using important pivots to place the grid. I usually use 50% most of the time since it's the most reliable.