I am looking at a strategy that was posted here on this site a few years ago by Mikko. It is called the Conservative Long-term Strategy.
I have downloaded the indicators and the template to my MT4, but I have a question I hope some of you expirienced trades can help med with.
In the top part of the article, Mikko writes that we must Draw the Fibo from the last Zig-Zag points, and wait for the price to reach 161.8
My question is: how do I draw the fibo correctly? Should it be from the higest price to the lowest or what? I don't understand his explanation, and the Picture he has on the post is not big enough for me to see how he did it.
I am a newbie, and would very much appreciate if an expirienced trader could clarify this for me. Thanks in advance.
Hope you understand my question.
I have placed a link to the original article below.http://www.binaryoptions.net/3-binary-options-trading-strategies-for-beginners/