Quote Originally Posted by Billy View Post
Nickola,

When initial stops on the 2/3 TNA/TZA positions are not hit, I wait for one higher low and two higher highs (if long). I draw a Fibonacci retracement grid from the first low preceding the higher low to the higher high and keep updating the Fibonacci grid if new highs are made. I have a trailing stop for 1/3 of TNA at a 39% retracement (failure of the 38.2% Fibo level) and another trailing stop for 1/3 of TNA at a 51% retracement (failure of the 50% Fibi level). The Fibonacci computations are made on TNA/TZA, not on IWM.

Billy
Hi Billy,

Are you looking at 30-min (or shorter?) bars to find the 1 higher low and 2 higher highs?

Thanks,

Shawn