Simple Fibonacci Trading 1,071 replies
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DislikedHow do we use fibo to set the take profit? - You can use any method that you understand. Pivot, Support/Resistance, ATR etc etc. - Since you mention about Fibo. I recommend you to use Fibonacci Extension. Please read it here : Click! Do we enter immediately after the breakout or wait for pullback before entering? - Patience is the key. Wait for the moment. - Buy : Enter between Breakout Level & Last Low - Sell : Enter between Breakout Level & Last HighIgnored
DislikedHow do we use fibo to set the take profit? - You can use any method that you understand. Pivot, Support/Resistance, ATR etc etc. - Since you mention about Fibo. I recommend you to use Fibonacci Extension. Please read it here : Click! Do we enter immediately after the breakout or wait for pullback before entering? - Patience is the key. Wait for the moment. - Buy : Enter between Breakout Level & Last Low - Sell : Enter between Breakout Level & Last HighIgnored
Disliked{quote} Can you please be more clear about this also where is your stop placed and any particular timeframe you like ? also your winning ratio please and how big is your tp to your stop ? in your pictures i see you could have entered earlier on smaller highs and lows ? Thank You best regardsIgnored
Disliked{quote} Stop Loss? . Last high or Last low. Just basic price action. {image} Timeframe? Any timeframe will do. Up to you which one you comfortable with. I prefer M15. Winning ratio? Winning ratio can be 70%+ if you hit the right breakout.Ignored
Disliked{quote} is 70 percent typical or is it a good day ? can you explain in more detail precisly how you enter please i understand the breakout but not where you enter also is your target always greater then your stop so if your stop is 20 pips your target will be 20 pips or more ? Thank You. Best regardsIgnored
Disliked{quote} It will be typical. I hope you give it a try. Example below was last week trade. 1. Identify the breakout. 2. Do the basic marking. H, L, LH. Make a box. That will be your entry zone. 3. LH will be your SL. (In this case 17 pips) 4. Entry will be inside the zone, as long as the price did not reach Take Profit level, it is valid for you to enter. {image} 1. Breakout candle. 2. Candle that I will enter {image}Ignored
Disliked{quote} Yes correct. I will watch out the big demand zone for Take Profit. Risk Reward will be around 1 : 2.5 {image}Ignored
Disliked{quote} Can you please explain demand zones? , i have no knowledge about them Also as you see price have its beakout on the first long red bar but Ao breaks on my arrow many bars later in you picture it is one of the blu bars after the 2 red long bars. Thank You. Best regardsIgnored
Disliked{quote} I try to simplify it for you. Go to Indicator and choose ZigZag. This is what we call basic swing. That is a clean breakout. {image}Ignored