Fibonacci settings

[mark8par]

Hi,

Can anyone tell me what to set fibonacci at? I have 4 choices.
Snap to nearest???
High/low
Close
Freehand

Also when adding this to the chart should I set it from a previous low/ high and then to the newest high/low or should I be looking to go further back, say over a month or so.

Thanks

Mark

 

[TheForexGuy]

I think the default is snap to nearest.

This after you draw the fib lines the tool automatically corrects for your small free hand drawing areas and aligns the fib lines with the nearest high and low.

Either use this setting or the 'freehand' setting.