Hi Sad,

Thx for following the thread and your kind words. The red and green lines is an indicator called Fibonaccizones developped by Fat Tails. You will not find it in futures.io (formerly BMT)'s download section, if you are interested you need to PM him.The FibonacciZones indicator identifies high probability zones where price action is likely to pause or to reverse. To find these zones the indicator identifies swings by using different timeframes and then calculates up to 540 support and resistance lines from prior highs and lows, Fibonacci retracements, expansions, projections and alternates. A summary of all these lines are condensed into the confluence zones, which can be user customized, for my 6R and 12R charts I use them with a Reduced resolution. The Fibonaccizones is used for exiting the trade. Vwap can act as a S/R it is also used as an exit strategy, what makes me decide for one or the other, as exit trigger, is the PA and the GOMCD compared to main and smaller TL's on my 6R and 12R chart. Also if the market conditions are not in the direction of the trade, for example going Long on 6E in those days is kinda risky, I might decide to cut my profits and anticipate the closing of the trade (see last trade at #288).

Hi Red

Thank you for that detailed answer. One last question on the same subject, and this concerns 6E more than CL, do round numbers such as 1.4000, 1.4050, 1.4100 etc influence your decisions in any way, as in, will you enter a trade or exit a trade around those levels or are those somewhat fictional as opposed to the VWAP, Fib and Gom levels which are derived purely from PA?

Sad

Ouch



Mike