Simple's Green Room

[daiello]

About the fib lines we were talking about yesterday.

I place fib lines and support/resistance off the wicks because for one what are the chances it hits the wick for a double bottom/top? It's really kind of rare for that to happen, which is why my buy/sell lines are 10-20 pips away.

There are tons of variations to measure, the way I do, the way you do, and obviously different ones in between. But I'd say, (given you're using longer term charts) a 30pip range from fib line, support/resistance is prob a respectable number. That's why my buys/sells aren't right on the line, but usually 20 pips away, to get filled.