Henry Liu's NFP video discussed fib tool for entry. for 1st fib app. Henry placed fib at Days high. if im on GMT time is Henry looking for high from earlier UK session or previous Asian session? - Forex Questions and Answers - FXAnswer

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Henry Liu's NFP video discussed fib tool for entry. for 1st fib app. Henry placed fib at Days high. if im on GMT time is Henry looking for high from earlier UK session or previous Asian session?

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- nick
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1 year ago

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0 Votes Nick, you seem to be getting bad information on from the previous posts. If you watch all of Henry's free material, he typically trades the current session Fib High/Low, but has a dotted line "Session indicator" for the MT4 platform. Additionally, with NFP, you can draw a double FIB if the NFP is with-in Any recent session but is more reflective of the current range. There are times when the previous session or current session Low or High are useless because the new low is the current price action (real-time, pre/post news release. For the above case, where the price action is setting new lows or highs on a 1hr chart, I (personally) find that tracing back in the Price action history to the NEXT closest resistance/support area for something like a 20-50 PIP beyond the current price action. NFP has a tendecy to break current and previous/current session Highs and Lows making the double fib obsolete. by Tyce 1 year ago by Tyce 1 year ago
0 Votes For the first Fib, I think he was referring to the daily range - from the low of the day to the high of the day (before the news release), last significant swing high prior to news release. by fxpie 1 year ago by fxpie 1 year ago
0 Votes Previous Asian Session. by Suneetha 1 year ago by Suneetha 1 year ago
0 Votes Drawing from the high to low and then to get the entry it looks like.. by thegreeks 1 year ago by thegreeks 1 year ago
0 Votes I think we should consider the overall trading day high or low for the measurement of fibonacci retracement. by Harold 1 year ago by Harold 1 year ago
0 Votes It would be from the high of the start of the day which start at the New Zealand open by fuji022 1 year ago by fuji022 1 year ago
0 Votes In my own interpretation, I would assume that the day high is the high achieved in the prior 24 hours before the news released time. by Kingpin 1 year ago by Kingpin 1 year ago

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Nick, you seem to be getting bad information on from the previous posts. If you watch all of Henry's free material, he typically trades the current session Fib High/Low, but has a dotted line "Session indicator" for the MT4 platform. Additionally, with NFP, you can draw a double FIB if the NFP is with-in Any recent session but is more reflective of the current range. There are times when the previous session or current session Low or High are useless because the new low is the current price action (real-time, pre/post news release.

For the above case, where the price action is setting new lows or highs on a 1hr chart, I (personally) find that tracing back in the Price action history to the NEXT closest resistance/support area for something like a 20-50 PIP beyond the current price action.

NFP has a tendecy to break current and previous/current session Highs and Lows making the double fib obsolete.

Tyce

1 year ago

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For the first Fib, I think he was referring to the daily range - from the low of the day to the high of the day (before the news release), last significant swing high prior to news release.