? Re: which time frame has better sk levels

[LH0425]

Hi Fibmaster,
I notice when I draw sk levels sometimes on 240m chart versus a 30M that the sk level will be relevant on a 30M versus a 240M chart. How do I handle this situation? So what I see is that the sk levels will be respected on a 30M vs. a 240M. How do you work around this, or how to you place into a plan?

Also, if trading a lower chart such as 5M. Which higher time frame chart do you suggest pulling sk levels from to trade the 5M?

Thanks. Carib ..

[FibMaster]

Hi Carib,

Higher time-frame Fibonacci levels are definitely stronger support/resistance than lower time-frames.

As for implementing them into a trade plan, TRSI is very helpful for that. If your charting system doesn't plot the TRSI, then MACD/Stoch is a reasonable compromise. This is explained in the "Trend" trading seminar here;
http://www.fibmarkets.com/videoseminar/
Also, once in a while I do an advanced TRSI live webinar here;
http://www.fibmarkets.com/pro_seminars/index.html

Those are hours of training, not really feasible to explain in a forum.

For 5-minute charts, I would look at all levels 5m through monthly, even yearly. Though most of the time you will be focused on 5m-4H FibLevels.

-Neal.