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Fibonacci Trading with Price Action

  • #1
  • First Post: Nov 2, 2018 4:02pm Nov 2, 2018 4:02pm
After 10 years of trading and tried many systems and lots of useless indicators im back to clean screens... i will share here my trades with easy PA and Fibonacci
  • #2
  • Edited 4:37pm Nov 2, 2018 4:14pm | Edited 4:37pm
here first example at Gold... 11.10.2018 it broke the area i showed with eclipse and then back to %50 fibonacci retracement and bounce from there
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  • #3
  • Nov 2, 2018 4:18pm Nov 2, 2018 4:18pm
and here 4 hour version of last bounce... as long as it fail to break 1236 i will wait to add long at %50 and 61 retracement
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  • #4
  • Nov 2, 2018 4:21pm Nov 2, 2018 4:21pm
there is no holy grail or magic indicators... i only like to check Kjunsen and 50 day ema for confirmation ...i keep my screen clean and sometimes check only these two ...
  • #5
  • Nov 2, 2018 4:24pm Nov 2, 2018 4:24pm
here my 4 hour nzdusd view
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  • #6
  • Nov 2, 2018 4:29pm Nov 2, 2018 4:29pm
you can use also 300 period of ema in 4 hour chart to see where daily 50 period of ema... but important is to see where daily trend going... so you can zoom in with 4 hour chart... never try against trend just with 4 hour candles... wait to see daily brekouts and daily candles close for confirmation...

Always draw your fibonacci Where last rally starts-end
  • #7
  • Nov 3, 2018 9:18am Nov 3, 2018 9:18am
lets talk about more details how to identify price action and apply fibonacci to our charts
  • #8
  • Nov 3, 2018 9:21am Nov 3, 2018 9:21am
here you can see i refresh fibonacci in every rally ... its a bearish trend example... if you see price draws '' Half cup'' then you can play 50-61.8 retracements with stop loss above where the last rally started...
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  • #9
  • Nov 3, 2018 9:24am Nov 3, 2018 9:24am
and here a bull trend example... if you are in a bull trend you will see '' reverse half cups''
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  • #10
  • Nov 3, 2018 9:28am Nov 3, 2018 9:28am
here bull trend draw ''cup'' which is a bear trend characteristic... and when you see its break down to trendline support and some wedge formation... you can start to sell or sir out of market...
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  • #11
  • Edited Nov 4, 2018 2:02am Nov 3, 2018 10:37pm | Edited Nov 4, 2018 2:02am
Great work Sniper .
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #12
  • Nov 4, 2018 1:06am Nov 4, 2018 1:06am
Lets check EurUsd and confuse ourselves
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  • #13
  • Nov 4, 2018 1:17am Nov 4, 2018 1:17am
i can say i will wait breakout of that little wedge i zoom in 4hr chart...i wait a medium term bullish trend starts to till bearish trendline which is holding price since 1.60 peak...
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  • #14
  • Nov 5, 2018 2:42am Nov 5, 2018 2:42am
Quoting pairsniper
i can say i will wait breakout of that little wedge i zoom in 4hr chart...i wait a medium term bullish trend starts to till bearish trendline which is holding price since 1.60 peak... {image}
GOOD Stuff
  • #15
  • Nov 7, 2018 3:51am Nov 7, 2018 3:51am
XAUUSD fibonacci worked great... but there was Congress election in Usa and that was my midnight so i didnt add a long entry but i let my previous long without risk
todays daily candle close is important... daily candle close above 1234 will open a new bull momentum
Attached Image(s) (click to enlarge)
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  • #16
  • Nov 8, 2018 8:52am Nov 8, 2018 8:52am
XAUUSD update... im still waiting a bull momentum start... price pullbacked to 61.8 today. and seems find support also from channel support..stop at breakeven and waiting for FOMC...
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  • #17
  • Nov 8, 2018 9:35am Nov 8, 2018 9:35am
Good work sniper

I find Fibonacci of some value after all the other useless indicators out there ..

Do you have this indicator for mt4 ?

It may be useful to have some of the extended fibonacci numbers as price sometimes tends to bounce off them ..

Regards
Raf
  • #18
  • Nov 8, 2018 10:10am Nov 8, 2018 10:10am
Quoting Rafaz1
Good work sniper I find Fibonacci of some value after all the other useless indicators out there .. Do you have this indicator for mt4 ? It may be useful to have some of the extended fibonacci numbers as price sometimes tends to bounce off them .. Regards Raf
i dont understand what you mean ... fibonacci for mt4 ? i know there is
  • #19
  • Nov 8, 2018 1:27pm Nov 8, 2018 1:27pm
No a dedicated specific Fibonacci number indicator for mt4
  • #20
  • Nov 8, 2018 1:42pm Nov 8, 2018 1:42pm
Quoting Rafaz1
No a dedicated specific Fibonacci number indicator for mt4
you can change or add different lvls if you want ...but i dont prefer that...sometimes price extend to 1.618 sometimes 2.0 sometimes 2.618 etc... im not expert about extension lvls... i dont need either... all i need to see PA supporting trend characteristic and retracement lvls...
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