Sure Tin.. fibs can be drawn from that 635 high to the swing low. Below shows the chart with the fibs applied. Notice the 50% retracement and PP cluster zone. The only problem with all these lines on my chart is that it really distorts my trading judgement. I prefer to keep things simple as possible and because the PP is pretty much the midpoint of
VAL and
VAH, I dont place too much emphasis on it. Initially I expect price to travel from
VAL to
VAH. However, if I do see price respecting the PP... I may take that as a breakout signal out of value.
