Simple Fibonacci Trading | Page 53 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

I need an EA for my simple "Mother Candle Fibonacci System" 63 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

Gp's simple daily fibonacci-based system 120 replies

Simple Fibonacci with candlesticks... 2 replies

Attachments: Simple Fibonacci Trading
Exit Attachments

Simple Fibonacci Trading

  • #1,041
  • Jan 26, 2018 7:46pm Jan 26, 2018 7:46pm
Quoting Akolva1
{quote} What is your exact strategy that you use to trade? What time frame do you draw your fibs on etc..good job so far! Fibs can be very accurate when used correctly in a strategy...trying to figure all this out.
Hello Akolva, good day to you! For me, I would draw my fibs on 4h and 1d chart. I only take trades if there is a small trend forming, i.e. (at least 2 higher highs and 2 higher lows OR at least 2 lower highs and 2 lower lows). The level drawn will be subjective, but i always draw them from the lowest point to the highest point of the trend. As long as there are reversal candles appearing on the fib levels (which also coincides with support/resistance level), i will enter trade! Of course I'm still learning in the progress as I just started trading live by myself earlier this month.

How about you? How do you use this strategy?
  • #1,042
  • Jan 27, 2018 7:09am Jan 27, 2018 7:09am
Quoting keeleytan
{quote} Hello Akolva, good day to you! For me, I would draw my fibs on 4h and 1d chart. I only take trades if there is a small trend forming, i.e. (at least 2 higher highs and 2 higher lows OR at least 2 lower highs and 2 lower lows). The level drawn will be subjective, but i always draw them from the lowest point to the highest point of the trend. As long as there are reversal candles appearing on the fib levels (which also coincides with support/resistance level), i will enter trade! Of course I'm still learning in the progress as I just started...
I'm just trying to find a profitable way of using fibs as I know they can be quite accurate when used correctly. Seeing that you have profited from using fibs was wondering how you used them. I'm going to try your strategy next week and backrest this weekend. Thanks for the reply!
  • #1,043
  • Jan 27, 2018 8:51am Jan 27, 2018 8:51am
Quoting Akolva1
{quote} I'm just trying to find a profitable way of using fibs as I know they can be quite accurate when used correctly. Seeing that you have profited from using fibs was wondering how you used them. I'm going to try your strategy next week and backrest this weekend. Thanks for the reply!
Yup sure. Feel free to drop me a PM or over here so that others who are lurking around can learn too All the best to you! Hope to hear from you soon!
  • #1,044
  • Jan 31, 2018 7:04am Jan 31, 2018 7:04am
Was busy to post updates on this thread. Will post it in 1 or 2 hours time. In the meantime if you wana see what trades I'm i, feel free to drop by reboundtrader.wordpress.com to see the trades I'm in!
  • #1,045
  • Jan 31, 2018 7:47am Jan 31, 2018 7:47am
AUDUSD
Spotted hammer at 23.6 retracement, entered long
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd 1.JPG Size: 199 KB
Click to Enlarge Name: audusd 2.JPG Size: 20 KB
  • #1,046
  • Jan 31, 2018 7:51am Jan 31, 2018 7:51am
Buy GBPUSD 4H
Spotted a hammer at 23.6 retracement. Entered long.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 1.JPG Size: 201 KB
Click to Enlarge Name: gbpusd 2.JPG Size: 17 KB
  • #1,047
  • Jan 31, 2018 7:53am Jan 31, 2018 7:53am
Buy NZDUSD 4h
Hammer spotted at 23.6
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusd 1.JPG Size: 198 KB
Click to Enlarge Name: nzdusd 2.JPG Size: 19 KB
  • #1,048
  • Jan 31, 2018 7:53am Jan 31, 2018 7:53am
Short USDCAD 4H
Spotted shooting star at 23.6 retracement.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad 1.JPG Size: 198 KB
Click to Enlarge Name: usdcad 2.JPG Size: 26 KB
  • #1,049
  • Jan 31, 2018 7:55am Jan 31, 2018 7:55am
Short USDCHF 4H
Spotted a shooting star at 23.6 retracement. Entered short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf 1.JPG Size: 196 KB
Click to Enlarge Name: usdchf 2.JPG Size: 13 KB
  • #1,050
  • Jan 31, 2018 7:57am Jan 31, 2018 7:57am
Spotted a hammer at 23.6 retracement
Entered long
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold 1.JPG Size: 195 KB
Click to Enlarge Name: gold 2.JPG Size: 18 KB
  • #1,051
  • Feb 3, 2018 6:54am Feb 3, 2018 6:54am
Update 3.2.2018

Loss 2 trades this week: AUDUSD and USDCAD

Still holding onto the rest. When my trade's in, I'll wait for TP or SL. I will set and forget about it and come back days later! Let's see if the trades will hold!
  • #1,052
  • Sep 1, 2018 6:02am Sep 1, 2018 6:02am
This thread seems to have gone quiet but a question for all the fibo traders out there.

Has anyone tested or have stats on which fibo retracement level is more successful in returning price to its original trend?
  • #1,053
  • Jan 29, 2019 6:35am Jan 29, 2019 6:35am
Hello fellow traders,

NZD/JPY h4 chart, shorted near 50%. Risk to Reward about 1:4.

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH4.png Size: 27 KB
"The markets can remain irrational longer than you can remain solv
  • #1,054
  • Jan 29, 2019 8:20am Jan 29, 2019 8:20am
Hello fellow traders,

GBP/AUD h1 chart, , shorted near 50%. Risk to Reward about 1:3.

Thanks

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH1.png Size: 26 KB
"The markets can remain irrational longer than you can remain solv
  • #1,055
  • Jan 31, 2019 9:53pm Jan 31, 2019 9:53pm
Hello fellow traders,

Brent Crude Oil h1 chart, long near 50%. Risk to reward about 1:4.
Attached Image (click to enlarge)
Click to Enlarge Name: BRENT.fsH1.png Size: 28 KB


Nasdaq day chart, short near 50%. Risk to reward about 1:4.
Attached Image (click to enlarge)
Click to Enlarge Name: NAS100.fsDaily.png Size: 28 KB


Thanks

Anticipating the first higher low / lower high.
"The markets can remain irrational longer than you can remain solv
  • #1,056
  • Feb 1, 2019 9:55am Feb 1, 2019 9:55am
Hello,

Instead of the EA indicator right at the beginning of this thread, could we not just have the indicator placed on our charts to see the Fib levels and be able to place the buy/sell trades ourselves.

Thank you
  • #1,057
  • Feb 4, 2019 3:53am Feb 4, 2019 3:53am
Quoting Rafaz1
Hello, Instead of the EA indicator right at the beginning of this thread, could we not just have the indicator placed on our charts to see the Fib levels and be able to place the buy/sell trades ourselves. Thank you
The EA is semi automatic. It means that you need to manually set up the fib levels on mt4. After you set up the fib level you have to rename the name to BUY or SELL. After this you can use the EA. So for manually trading you set up the fib level in the same way: If price reach 50 level you set up an pending order at 38 level.
  • #1,058
  • Feb 4, 2019 7:21am Feb 4, 2019 7:21am
Hello fellow traders,

USD/JPY day chart, planned a short at 110. Risk to reward about 1:4.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 28 KB


Thanks

Anticipating the first higher low / lower high.
"The markets can remain irrational longer than you can remain solv
  • #1,059
  • Feb 4, 2019 10:32pm Feb 4, 2019 10:32pm
Hello fellow traders,

NZD/USD h1 chart, planned a short at 50%. Risk to reward about 1:4.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1.png Size: 28 KB


Thanks

Anticipating the first higher low / lower high.
"The markets can remain irrational longer than you can remain solv
  • #1,060
  • Feb 11, 2019 8:48am Feb 11, 2019 8:48am
Hello fellow traders,

CAD/JPY h1 chart, planned a short at 50%. Risk to reward about 1:4.

Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH1.png Size: 29 KB


Thanks

Anticipating the first higher low / lower high.
"The markets can remain irrational longer than you can remain solv
0 traders viewing now