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Sure it does look like hindsight now that its over, but I use it in real time. I use the retracement to see where a retracement might end. Once the direction has changed I use the projection to see where the next move might end. It is a projection of the previous range from the low and I use 100% as a target, and 50% as a possible resistance. 33% & 66% are for money management. The concept of repeating ranges is probably more Gann that Fib, but they work well together.

So here is how I am using both to manage my current spi short.

The retracement shows that 38.2 aligns with previous support and resistance so is an area of concern. The projection of the first down range gives a 100% point, where the market has now paused, and a 150% point that is a good match with the 38.2 of the range. It also shows that it powered straight through 50%, a sign of strength in the move. Normally I would take profits at 100% but for this trade I have moved stops to above 50% and set profit take at 150%.

[ATTACH]55725[/ATTACH]

[ATTACH]55726[/ATTACH]

I dont use them as entry points, I use them as setups for entry but wait for confirmation, and then use them for targets and stop placement.

<blockquote data-quote="beachlife" data-source="post: 805618" data-attributes="member: 19699">Sure it does look like hindsight now that its over, but I use it in real time.&nbsp; I use the retracement to see where a retracement might end.&nbsp; Once the direction has changed I use the projection to see where the next move might end.&nbsp; It is a projection of the previous range from the low and I use 100% as a target, and 50% as a possible resistance.&nbsp; 33% &amp; 66% are for money management.&nbsp; The concept of repeating ranges is probably more Gann that Fib, but they work well together.So here is how I am using both to manage my current spi short.The retracement shows that 38.2 aligns with previous support and resistance so is an area of concern.&nbsp; The projection of the first down range gives a 100% point, where the market has now paused, and a 150% point that is a good match with the 38.2 of the range.&nbsp; It also shows that it powered straight through 50%, a sign of strength in the move.&nbsp; Normally I would take profits at 100% but for this trade I have moved stops to above 50% and set profit take at 150%.[ATTACH]55725[/ATTACH][ATTACH]55726[/ATTACH]I dont use them as entry points, I use them as setups for entry but wait for confirmation, and then use them for targets and stop placement.</blockquote>

[QUOTE="beachlife, post: 805618, member: 19699"] Sure it does look like hindsight now that its over, but I use it in real time. I use the retracement to see where a retracement might end. Once the direction has changed I use the projection to see where the next move might end. It is a projection of the previous range from the low and I use 100% as a target, and 50% as a possible resistance. 33% & 66% are for money management. The concept of repeating ranges is probably more Gann that Fib, but they work well together. So here is how I am using both to manage my current spi short. The retracement shows that 38.2 aligns with previous support and resistance so is an area of concern. The projection of the first down range gives a 100% point, where the market has now paused, and a 150% point that is a good match with the 38.2 of the range. It also shows that it powered straight through 50%, a sign of strength in the move. Normally I would take profits at 100% but for this trade I have moved stops to above 50% and set profit take at 150%. [ATTACH]55725.vB[/ATTACH] [ATTACH]55726.vB[/ATTACH] I dont use them as entry points, I use them as setups for entry but wait for confirmation, and then use them for targets and stop placement. [/QUOTE]

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