Weekly Fibo trading levels

Hello Guys and Gals,

I've been trading forex for 10 years now, trying every strategy you can think of known to man. Until, I met my mentor Tom Strignano. Tom taught me how to trade efficiently and tricks from market makers that most people don't know. Today I would like to pay it forward to may people that still struggle to make money in the forex market. This thread is going to be simple, to start with, I will make updates along the way.

Weekly Fibonacci Levels? Yes. I calculate them every week to know where the order flow of the market. These levels gives me an idea of where the market is going to in the next couple of weeks or days. I will flood this thread with examples of trades and ideas, and I hope you do the same in a courteous manner. I will block anybody that is disrespectful to others without hesitation, so please don't be rude to others.

Let's start with EUR/USD..

A lot of people trade this pair because of it's liquidity, Well, without hesitation here are the levels for the upcoming weeks for EUR/USD in the first comment.

You will find along way, if have trade Fibonacci before, that some levels are more important than others. I will deviate a little so I don't forget to mention something..

The fibo levels I was taught are different from the fibo levels the charts have on there packages..

For example, the regular fibonacci numbers as you know them are: 0,23.6,38.2,50,61.8,76.4,100 and their extensions

My fibonacci levels are:

0%
23.6%
38.2%
50%
61.8%
82% (very important level, many pullbacks happen at this point)
100%
1.382%(very important level, many pullbacks happen at this level also)
1.618%
1.820%(very important level, many pullbacks happen at this point)
2.236%(very important, as trend changes at this point)
3.00% (very extreme price point many reversals too count)
5.00% (most extreme)

I will be posting these levels as the market gives them. YES! you read right as the market gives them! The market will tell me when to draw a new set of fibo levels, and will post them here for you.

**This levels are just a guide for your trading, you can use them with your own strategy or trade breakouts or reversals of these levels.

Ok, here we go as promised..

Weekly levels for EUR/USD are as follows with order flow to the downside (this does not mean you can't take long trades) is just that sell trades will be more efficient and you will be able to make more profit knowing where price goes and stops and reverse:

0% @ 1.08291
23.6% @1.07137
38.2% @ 1.06424
50% @ 1.05847
61.8% @ 1.05270
82.0% @ 1.04283
100% @ 1.03403
1.382% @ 1.01536
1.618% @ 1.00382
1.82% @ 0.99395
2.236% @ 0.97361
3.00% @ 0.93627
5.00% @ 0.83851

Nice thread, thanks! I will follow you!

Thanks man. I lot of things coming out soon!

Well, today I have GBP/JPY.. one of my favorite pairs. This week GBP/JPY changed the order flow to the downside, and of course the fibo levels changed. Here are the levels for this pair, along with a chart. This chart has some of the indicators I use for my strategies, but you can see the levels clearly.

0% @ 144.791
23.6% @142.828
38.2% @ 141.614
50% @ 140.632
61.8% @ 139.650
82.0% @ 137.970
100% @ 136.473
1.382% @ 133.296
1.618% @ 131.332
1.82% @ 129.652
2.236% @ 126.192
3.00% @ 119.837
5.00% @ 103.201

I use Oanda too. How do you draw pivots manually or use indicator ?

I calculate the levels from highs and lows I was taught. I will soon develop an indicator for it. For now I will just post them here.

That's perfect, hasib.

You are actually looking for price to retest that 100% (in this case) sometimes is a different level.

I think if we use only 10 weekly candle high and low it will remove confusion. What you think caillo ?
10 week candle fibo will help to trade 60 minute and 240 minute time frame chart.

can you post a chart to show me what you are proposing?

Caillo, thanks for giving back to the community of traders. I like your fibo indicator with the various colors. Can you attach it here? Thanks.

It's not an indicator yet, i calculate the levels by hand. The indicator you see on the chart is free with tradingview. Tradingview is free charts for stock, futures, and forex. I use oanda and on their web platform, this is what they use. It's part of their package. I will be though coming soon with an indicator that will do it automatically, so I don't have to do it by hand. I will let people know as soon as it is available.

caillo I am talking about this concept. First we will go to Weekly chart and count last 10 candle and then mark hist point and mark lowest point. after that we will draw fiob level and with that fibo level we will trade in h4 or h1 chart. here is an example

Please explain more this Sounds very interesting

Most How you trade the Levels.

I learned this analysis from Tom Strignano. This was one of the first things he taught me. The whole idea behind the weekly fibo analysis is to have an idea where the market is going. We take a point in the weekly chart (i can't reveal how I do it) but you can pretty much figure it out with the percentages I give you. Later, like I said I will develop an indicator that does it automatically like the fibo tool on chart packages.

So, you have a road map of levels to be broken for price to test the next pivot point trending up or down. Then, you can apply your strategy with this levels in mind, or create your own strategy around it.

I trade different strategies, so I can't point to one specific, but I was taught to use trendlines in the 1 hour chart along with the levels. Right now, I use a 21 ema as direction of market in the 4 hour chart, i don't have time to sit down on a 1 hour chart anymore.

You can trade the levels by themselves too. If price is coming to, let's say 1.382 level, by experience I can tell you is going to reverse at some point, so you are prepare to enter long/short, whatever the scenario might be.

My main strategy is reversals, not breakouts, I've never been good with breakouts. haha!

I will share later on videos and more charts for you guys. You can always message me if you have any questions.

hello caillo
here is a monthly fibo indicator I have. I have few question, I want to discus with you. I have get your skype id but there are too many name with your id. do you have a skype group so that I can get you easily.
Thanks

Hello traders,

Remember that GBP/JPY chart I posted with the levels? Well, if you trade the levels as we have been talked about. Look at what happened to day.
Price was rejected once again from 38.2 level as the order flow for the pair was down. So if you took the trade, you bagged some pips today. Here is a chart of the actual price as of now, looking to test 61.8 level. Let's do this!!!

FYI

I will be posting other levels soon! I have to wait for closing today to calculate the ones the market is telling me to change!

Hello Traders, It's the beginning of the week and I have weekly levels for you.... USD/CAD

USD/CAD

0% @ 1.29697
23.6% @1.31177
38.2% @ 1.32096
50% @ 1.32839
61.8% @ 1.33582
82.0% @ 1.34854
100% @ 1.35987
1.382% @ 1.38392
1.618% @ 1.39878
1.82% @ 1.41150
2.236% @ 1.43769
3.00% @ 1.48579
5.00% @ 1.61171