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Weekly Fibo trading levels

  • #21
  • Mar 6, 2017 3:38am Mar 6, 2017 3:38am
Quoting caillo
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
Hi Caillo,

What do you do with those levels? You wait for a PA to enter into the market on 4hr TF?

Cheers,
Okrim
  • #22
  • Mar 6, 2017 1:37pm Mar 6, 2017 1:37pm
Quoting okrim
{quote} Hi Caillo, What do you do with those levels? You wait for a PA to enter into the market on 4hr TF? Cheers, Okrim
I have these levels as a guide of where the market wants to go. If the market order flow is down, and I have a long trade open, I will be careful because if price hits one of these levels it will be rejected, unless it's move by a powerful news. If it's a short trade, I will look for the break of levels to make sure price will still go down to where I want it, and also I use for profit taking, reversal trading, for example if I see a reversal pattern on a level like 61.8, I know price will reverse. It's a very useful tool everybody should have it to stretch their profits.
  • #23
  • Mar 6, 2017 3:27pm Mar 6, 2017 3:27pm
Quoting caillo
{quote} I have these levels as a guide of where the market wants to go. If the market order flow is down, and I have a long trade open, I will be careful because if price hits one of these levels it will be rejected, unless it's move by a powerful news. If it's a short trade, I will look for the break of levels to make sure price will still go down to where I want it, and also I use for profit taking, reversal trading, for example if I see a reversal pattern on a level like 61.8, I know price will reverse. It's a very useful tool everybody should...
Yes, i believe so, thanks!
  • #24
  • Mar 7, 2017 11:06am Mar 7, 2017 11:06am
Hello,

i find interesting USDCHF, right bouncing to 61.8, forming and bearish eng pat, in confluence with trendline. I think it is a nice opportunity to short. What do you think?
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  • #25
  • Edited 12:01pm Mar 7, 2017 11:43am | Edited 12:01pm
Quoting okrim
Hello, i find interesting USDCHF, right bouncing to 61.8, forming and bearish eng pat, in confluence with trendline. I think it is a nice opportunity to short. What do you think? {image}
That looks great! I would've enter short on the break of prev candle low since it hit 61.8 level, looking for final profit around the 38.2 level, unless the weekly says the order flow is to the downside at that point. Here are USDCHF levels if you need them. (it's going to be on chart this time, until I can edit the post and put them as a list)
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  • #26
  • Mar 7, 2017 12:49pm Mar 7, 2017 12:49pm
Quoting caillo
{quote} That looks great! I would've enter short on the break of prev candle low since it hit 61.8 level, looking for final profit around the 38.2 level, unless the weekly says the order flow is to the downside at that point. Here are USDCHF levels if you need them. (it's going to be on chart this time, until I can edit the post and put them as a list) {image}
Yes, i see what you mean. Are you in this trade? Now the price is retracing a little bit, i will watch it by sideline, but i like it!

Thanks, please share more charts, i am interested about this strategy!
Okrim
  • #27
  • Mar 7, 2017 12:52pm Mar 7, 2017 12:52pm
USDJPY, here i think we had another good opportunity to enter short. At the break of that candle, or at the close of the next candle. This setup is valid for you, even if the price when a little bit above the 38.2?
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  • #28
  • Mar 7, 2017 1:05pm Mar 7, 2017 1:05pm
AUDNZD, which are the points you use to draw the weekly Fibonacci here?
Is my chart correct? If yes, we are just hitting the 61.8.
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  • #29
  • Mar 7, 2017 9:02pm Mar 7, 2017 9:02pm
Quoting okrim
{quote} Yes, i see what you mean. Are you in this trade? Now the price is retracing a little bit, i will watch it by sideline, but i like it! Thanks, please share more charts, i am interested about this strategy! Okrim
I did not took this trade, I trade gbpjpy,usdcad and audusd only different strategies for each one of course, but always with these levels on my chart
  • #30
  • Mar 8, 2017 2:40am Mar 8, 2017 2:40am
AUDNZD perfect pinbar on 61.8, what do you think?
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  • #31
  • Mar 8, 2017 4:44pm Mar 8, 2017 4:44pm
Quoting okrim
AUDNZD perfect pinbar on 61.8, what do you think? {image}
it looked beautiful, hope you took it!
  • #32
  • Mar 10, 2017 7:28am Mar 10, 2017 7:28am
Good day fellow traders,

For some reason I have a feeling that the NFP will suck this week and AUD/USD and USD/CAD will go the other way. Here's a chart of USD/CAD right on resistance. I placed an order to sell usd/cad @1.3480 and an order to buy aud/usd @ 0.7535 just in case my feeling is true, with a tight stop.
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  • #33
  • Mar 10, 2017 2:57pm Mar 10, 2017 2:57pm
Quoting caillo
Good day fellow traders, For some reason I have a feeling that the NFP will suck this week and AUD/USD and USD/CAD will go the other way. Here's a chart of USD/CAD right on resistance. I placed an order to sell usd/cad @1.3480 and an order to buy aud/usd @ 0.7535 just in case my feeling is true, with a tight stop. {image}
Hi Caillo,

nice trade USDCAD! The FXcaillo performance is based on the weekly fibo trading levels strategy? Nice performance so far!
I would like to know more about your entry, if you wait for a price action, if you draw trendline, if you wait for confluence of more factors, etc... Charts with your entry and exit explained will be excellent!

Thanks,
Okrim
  • #34
  • Mar 13, 2017 7:03am Mar 13, 2017 7:03am
Entered long gbp/jpy @140.19 looking for 1TP @ 140.81 or more.. watching price action.
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  • #35
  • Mar 16, 2017 10:09am Mar 16, 2017 10:09am
Quoting okrim
{quote} Hi Caillo, nice trade USDCAD! The FXcaillo performance is based on the weekly fibo trading levels strategy? Nice performance so far! I would like to know more about your entry, if you wait for a price action, if you draw trendline, if you wait for confluence of more factors, etc... Charts with your entry and exit explained will be excellent! Thanks, Okrim
Hi okrim, sorry for the delay. No, the weekly fibo levels are an integrated part of my strategy. It is the first thing I do every week, I wanna know where the market is attempting to go before I do any trade. This paid off yesterday yet again, as you can see in the explorer I closed usdcad yesterday with an awesome profit, and still price hit and is hanging around the 50% level. The order flow for usdcad is still to the upside, unless it changes at friday's close.

In my personal strategy I only trade three pairs: audusd,usdcad and gbpjpy. I use two moving averages that show me the trend and also give entrance in qualified crossovers. I have a special strategy for gbpjpy, but the levels are always there.
  • #37
  • Mar 20, 2017 7:02am Mar 20, 2017 7:02am
Hey traders,

Another week has started and AUDUSD is now to upside. Order flow changed as of Friday close.

here are the numbers:

0% @ 0.74912
23.6% @0.75501
38.2%@0.75865
50%@0.76168
61.8%@0.76455
82%@0.76959
100%@0.77408
1.382%@0.78361
1.618%@0.78951
1.82%@0.79455
2.236%@.80493
3%@0.82400
5%@0.87392
Attached Image (click to enlarge)
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  • #38
  • Mar 21, 2017 2:06am Mar 21, 2017 2:06am
Quoting caillo
{quote} That looks great! I would've enter short on the break of prev candle low since it hit 61.8 level, looking for final profit around the 38.2 level, unless the weekly says the order flow is to the downside at that point. Here are USDCHF levels if you need them. (it's going to be on chart this time, until I can edit the post and put them as a list) {image}
that is really great levels on your chart, the market touched and reversed on some of your fibonacci level. I really interest with your system. Thanks for shared Caillo.

----
cammarilla
  • #39
  • Mar 21, 2017 8:16am Mar 21, 2017 8:16am
Hey Traders, like it was said in a previous post #usdcad touched and reversed on 61.8% level
and is coming down, probably to test 38.2% @ 1.3209-1.3200 area or further 23.6% is @1.3117
Let's see if price action takes us there. Order flow is still to the upside per weekly price action. Here's a chart! Refer to the update in #post 1
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  • #40
  • Mar 21, 2017 8:38am Mar 21, 2017 8:38am
Quoting Jevan
{quote} that is really great levels on your chart, the market touched and reversed on some of your fibonacci level. I really interest with your system. Thanks for shared Caillo. ---- cammarilla
Yes. Jevan You will have a road map of price action.
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