Haven't actually done a trading post for awhile :)
Learning to incorporate multiple golden ratio [161.8] fib levels into every single #trade you take "may" dramatically improve your returns.
This is done with proper placement, usage, of multiple fibs on multiple time frames.
It sounds complicated but once you know how to properly draw fibs & practice it for awhile it becomes quite natural feeling.
You have to realize that markets are fractal in nature. There are moves within moves within moves (as our EW friends know well ;)
Being able to see & understand the current condition of a particular pair on multiple time frames is the key.
For me there are several very important fib levels. They are 23.6 [I call it the stop hunt zone], 61.8 [often ping pong area with 23.6], 88.6 [support where you least expect it], 127.2 & the magical 161.8
23.6 [stop out zone]
61.8 [range area between 23.6 & 61.8]
88.6 [is sneaky, be aware of it]
127.2 [a great spot to take partial profits (if you haven't taken some already)]
161.8 [I call this a completion move, look for a possible reversal]
I'm using this mornings $USDJPY trade as an example of how this might be done.
First lets analyze the current condition on h4.
-Click charts for larger image-
Here's the m15 with some smaller time frame fibs
Learning to properly use fibs to gauge the current condition of PA on any time frame is invaluable.
Even down to m1..
Here is all the documentation for my system (minus the fib lesson)