Replies to post #114116 on Simple's Green Room

[Qui-Gon Kagi]

Eeeenteresteeng jav....eom

[simplegreen]

jav..those are important numbers because they are each in the fibonacci sequence but trade decisions cant be based on number of bars...a trend on any TF will stop and reverse after its completed!Flipping moves involving 8 or fewer candles may often be seen when a pair is in the zone between 38.2 and 61.8 but once a pair breaks above or below the consolidation zone it will trend as many candles as it takes to reach top or bottom of fib box(or close to either one).
Candle counting IMO is a waste of energy because for example the distance from 38.2 to zero may be 50 pips...that distance can be spanned in only a dozen or so candles or maybe spanned in fewer..that depends a lot on the momentum and length of each candle..the first 3 candles of breakout can cover a lot of pips very quickly.
I speak from experience because I have in the distant past done some candle counting but was never a fruitful excercise