I used fibonacci to make entry, place stop loss and take profit. In one tutorial at Babypips, I found that one way to use fibo is by placing the stop loss a little far from the next level from your entry.
babypips.com/school/elementary/fibonacci/placing-stops-with-fibs.html
The question is, just how far? 25 pips? 100 pips? I'm using H1 timeframe.
babypips.com/school/elementary/fibonacci/placing-stops-with-fibs.html
The question is, just how far? 25 pips? 100 pips? I'm using H1 timeframe.