ASX open: Fib levels that survive the first hour

Overnight futures can hand you a tidy Fib that the cash open immediately invalidates. Australian traders in our room learn to separate pre-auction sketches from confirmed impulse legs after 10:00.

Wait for the first structure print

Until the opening range has a clear break, treat Fibs drawn on the overnight move as provisional. Many practice-evening charts show traders entering on a 50% hold that never existed on the cash session.

Re-anchor after confirmation

Once a morning impulse posts consecutive closes beyond the opening range, redraw. The ratios stay the same; the swing rarely does.

Drill for next week

Mark three prior ASX opens on an index or heavyweight name. Note how often your overnight Fib survived the first hour. Bring the worst example to group practice.