SHORT TERM TRADING
Short term- short position, TP at 133.95 , after that will rebound and break 0.5 fibo, enter Long position , TP at 135.70,
The short position may not occur if it doesnt break the 1.0 Fibo line at 134.25
How long have you used this strategy ? Does it work on lower time frames. Seems to me you get chopped around a lot trying to catch the big trending moves that only happen 20/30% of the time. Granted, I've studied this very little but, it looks like you leave way too many pips on the table with a high danger of selling bottoms and buying tops. It does provide lots of analysis for very few trades --- Hence the idea might work better on 5/15 minute charts ?