I use the ORH or ORL as my range only. Setups can happen anywhere on the chart (IOR, above ORH or ORL or extended above or below the ORH/ORL). The charts I sent you happen to be setup @ or near the ORH/ORL. I have more that setup IOR and extended. I will usually draw FIBS as you mentioned unless a price peak happened outside the ORH/ORL. I will then use the price peak or highest/lowest close as my FIB 100% line and today's low/high or previous day low/high as my FIB 0% line. Depends on how big the gap was.

posted in stocks on Aug 2 8:19am