I look at different time frames, whether it be 5/10/30 min etc. I keep an eye on previous days trading/ranges and adjust accordingly. Once the high was hit y-day morning I looked at the weeks trading & noticed where the 50% line was. As mentioned in an early post important highs/lows can become 50% marks. In this example it was 5851..(much more powerful on daily/weeklies charts than smaller time frames) SPI rallied off fib @ 5859 to the fib @ 5870... y-day rallied to 5871 which was previous support (became resistance) on my 5 min chart as posted. I didn't need to pick the high, just wait for mkt to come to me.
Fibs aren't the holy grail but but they can impact.
Just using 50% ranges alone can make you bucks trading as majority would know who have been around for awhile.
In the last 20+ years I have studied Gann/Geometry etc. you name it I have looked at it.
These days it's fairly basic what I look for day trading.
Time has taught me not to over complicate things, especially day trading.
KISS method works for me.
