Simple Fibonacci Trading

Hello fellow traders,

One of the few trades that worked.

AUD/NZD h4 chart, a short at 50%. Risk to reward about 1:4.



Thanks

Anticipating the first higher low / lower high.

Hello! It feels like you're Chinese, too. look at your head. Shake hands. You're not just Fibo, are you? Can be shared.

Hello davia75,

Are you asking where to find the Fibonacci drawing tool?

Thanks

Hello, I've customized my MT4 Fibonacci Retracement drawing tool to draw S/R lines. This means I'm unable to easily apply Fib retracement lines on my charts when I wish to, that is without deleting my custom setup. I've looked and failed to fine a Fib retracement indi that works in the same way as the Mt4 drawing tool. That is, one that allows me to manually draw the lines. All the ones that I've found out there automatically draw them (an advantage I suppose to everyone by myself). DOES ANYONE HAVE A MANUAL FIB RETRACEMENT INDI THAT YOU COULD SHARE WITH ME? I'd be very grateful. Thank you!

Partial clumsy solution, better than re-editing Fibonacci tool properties, every F-OREX time.

1) Open up a Monthly chart, e.g.; EURUSD MN1
2) Draw each Fibonacci tool you wish to save the settings for (Retracement, Expansion line, Fan line, Time zones).
3) If you want two or more Fibonacci retracement tool settings saved, draw each or however many.

Select anyone of those drawn Fibonacci retracement tools, right-click to Edit Properties, click the Fib Levels tab, then click the OK button (same procedure for Common tab: Line Color/Style/Width, and Parameter tab: Ray): Whatever settings were saved in that Fibonacci tool will reappear once again when drawing.

Now, save the Fibonacci completed chart as a template, e.g. FibSettings-EURUSD-MN1.tpl
So, you don't forget time frame and pair.
Also, use MN1, because it slowly changes and moves.

To view the example file attachment, open up a EURUSD MN1 chart, and apply template.

Hi,

I am looking for indicator which can show me result as shown in picture. Fib extension from Point A to Point B and retrace to Point C and show or project future Profit target 61.8 AND 100.

Biggest problem appears to be when to draw the Fib.
Pick a day, say Friday.
Use the Fib Tool.
Use whatever %s work.
See if a year of Fridays works.
Figure your own SL and TP.
Use the EA by FerruFX .... wonderful job, very professional.
Daily Line Boxes by Hannover.
Huge, well done.

Regards and be well,
BD

In honor of Huge Briss:
Powell speaks, let's see if we can get 2.
1 Buy
1 Sell
Potential for two additional Buys if price bounces.

Moved the grid up with the same size/length as the first one.
Fib Tool only allows so many line.

Is the EUR/USD getting ready to decline?
Blue lines = trades or future trades

EUR/USD did drop.
Screen Shot shows the entire week based on previous Friday.
Note the grid provided how the entire week could be traded.
I don't initiate trades on Friday after midnight.

Good luck in your trading.