[Sniper]

Nice charts soultrader

It's good to hear that you're using fibs back.

I've been using fibs for 15 years and it's my weapon of choice for trading.

I would like to add some suggestions

first, I strongly suggest not to use fib retracements on tick charts. I have traded with fibs in all forms/shapes/gann's elliot waves etc available on this earth and tick charts don't give you an accurate pattern most of the time. I don't say they can't be used on tick charts but fibs are more related to actual time .

As for your swing filter, I prefer the ones who have minor corrections(pullbacks) built in.

Just a short explanation here. Fibs are a combination of price/pattern and time. That's one of the reason fibs are widely misunderstood.

Another suggestion is to have a target. Many fibs traders are counting cycles (waves). Well that's good, but has to be done under the light of time. Some others has a fixed price target. I personally use a combination of the two. Has been more efficient to me.

I used to manually count cycles. I recently switched to a broker who has a time cycle tool. It helps you to time how long you'll reach to your desired profit target( not to the T but they work really good most of the time). The minute I see a C correction, I begin to draw profit target lines and time cycles. I also use extensions but in that I am very discretionary.

When I started trading, after try all indicators, bells and whistles know to man, I decided that I will have a better understanding of the market, I will have to use a tool that's forward- approach to instead of past history

Andrew's pitchfork, pivot points, fibs, S/R Regresion channels and even trendlines have this particular forward approach to the market I was looking for. Because of that, a lot of discretion is applied and many times traders falls into a real discretionary nightmare. You have no idea how many nights I spent calculating and backtesting charts using ganns, elliot waves and fibs until one day I decided to get rid of plenty of stuff I had already built in and keep only fibs and time cycles.

My trading improved dramatically when I decided to keep what I choose to be my way for trading and not to incorporate anything else. The thing is , fibs or not fibs, many traders are in this constant quest looking to mix all kind of things and when something doesn't work, they keep moving on to the next brand-new indicator until they get frustrated and sadly out of the market for good and pocket empty.

Back to the fibs, My humble advice is to keep it simple as they are. They're just guides. Have an entry, exit and stop-loss points already in place and when you hit the signal, just go for it. Don't hesitate. Fibs are not always right, but they work enough times to give you a statistical edge

My charts are brand new. I am still getting familiar with the whole package, but as soon as I learn how to screen capture a chart, I will show you how I trade, with precise entry and exit points and how to deal with a broken fib(because you'll have broken fibs along the way for sure) .

Regards