Fibs are often the most important levels on the Dax. And the intraday fib works uncannily well too. From now on, I update the intraday fib during the session so that I know where the levels are – it’s especially useful for working how far pullbacks are likely to go.
This chart shows how the fib extension (-23.6% and the bottom blue on the chart) was a perfect preduction of how far the market would go once it broke the initial low – and then alos how far it would get when it bounced from there.The intraday fib added at the end of the session
