Trend Trading with Fibonacci & RSI | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

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

Trend, S/R, Stoch, MACD, RSI, Volatility, Stats & News System 35 replies

Help to modify RSI trend display indicator to CCI trend dis. indi 0 replies

Ichi Trend & RSI Trend Catch 4 replies

Attachments: Trend Trading with Fibonacci & RSI
Exit Attachments

Trend Trading with Fibonacci & RSI

  • #61
  • Apr 18, 2017 5:21am Apr 18, 2017 5:21am
GBPNZD update -> still in the game. Correction was deeper then expected, but stayed within predicted area. I moved SL to break even when price reached 1 RR ratio. Let's see how this trade plays out...
Attached Image (click to enlarge)
Click to Enlarge Name: 9YJwFSc4.png Size: 194 KB
  • #62
  • Apr 18, 2017 5:48am Apr 18, 2017 5:48am
AUDJPY -> price at critical support level 200 daily SMA + rising trend line + previous resistance turning support. Now, AUD is weak across the board today, so I would be more careful going long then usual.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ZyMCIR9e.png Size: 205 KB
Click to Enlarge Name: timJuzRX.png Size: 152 KB
  • #63
  • Apr 18, 2017 6:19am Apr 18, 2017 6:19am
GBPJPY update -> anticipating falling wedge (daily chart) bullish breakout
Attached Image(s) (click to enlarge)
Click to Enlarge Name: mh9ZMQK2.png Size: 170 KB
Click to Enlarge Name: PhPNyRIv.png Size: 207 KB
  • #64
  • Apr 18, 2017 7:01am Apr 18, 2017 7:01am
GBP/USD -> going strong, but also strong resistance ahead

GBP/USD has been consolidating in 800 pips range since falling to 1.19. We 're seeing strong bullish move after May's election announcement, but we're still in consolidation range. I don't know if GBP has enough strength to break out of this consolidation, I'm anticipating sellers in 1.2750-1.2870 area. Lets see if we can get some short term tactical trade out of May's news...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ycZzZvst.png Size: 153 KB
Click to Enlarge Name: 08yptG0K.png Size: 159 KB
  • #65
  • Apr 18, 2017 7:15am Apr 18, 2017 7:15am
GBPNZD update -> pair hit my target and I'm out, 2.66 RR is enough. I don't like potentially strong falling trend line resistance ahead of PA and also GDT Price Index news is ahead. It would be too much of a gamble to stay in a trade for me.
Attached Image (click to enlarge)
Click to Enlarge Name: jfIJ6zEC.png Size: 208 KB
  • #66
  • Apr 18, 2017 7:39am Apr 18, 2017 7:39am
No doubt, Fibo is one of the most important technical tool for identifying good swing point of market! Besides, RSI is very popular default trading indicator, but it will show you overall market flow rate, you can’t rely on their any specific point blindly! In my live trading chart, I always use Fibo tool, and I use market movements pattern for knowing about market flow rate!
  • #67
  • Apr 18, 2017 8:02am Apr 18, 2017 8:02am
GBP/CAD -> I've missed nearly perfect technical trade, while focusing on other pairs. Let's try to analyze it:
Attached Image (click to enlarge)
Click to Enlarge Name: cF30lNMk.png Size: 166 KB
  • #68
  • Edited 8:36am Apr 18, 2017 8:23am | Edited 8:36am
Quoting DarrenLehma
No doubt, Fibo is one of the most important technical tool for identifying good swing point of market! Besides, RSI is very popular default trading indicator, but it will show you overall market flow rate, you cant rely on their any specific point blindly! In my live trading chart, I always use Fibo tool, and I use market movements pattern for knowing about market flow rate!
I mainly use RSI to spot divergences between RSI and price action in OB/OS territory and to establish if we are in a trend (RSI has tagged 70 and preferably stayed above 40 after correction (or 30-60 for bearish trend)) or in a range (where RSI moves mostly between 40 and 60 or 30 and 70 in wider ranges). But as you've said it, price action movement is the best indicator we have.

I use fibo only as measuring toll for possible retracements and target points in conjunction with other support/resistance factors, nothing more/nothing less.
  • #69
  • Edited 8:18am Apr 19, 2017 8:00am | Edited 8:18am
GBP/JPY update -> A pair has broken out of daily wedge formation with impressive 460 pips move. Lets see if we can get some correction around 140 level, before resuming upwards. Technicals are clear, but fundamentals aren't. It's PM May's announcement / Brexit driven move, so we have to be careful what will happen after correction. If we see some risk averse fundamental event happening (like Trump making more mess in Korean Peninsula or Syria), GBP will probably not see continuation of an up move.
Attached Image (click to enlarge)
Click to Enlarge Name: g0RFQfMl.png Size: 127 KB
  • #70
  • Apr 20, 2017 7:25am Apr 20, 2017 7:25am
USD/JPY update -> usdjpy at turning point? It could be: 200 daily SMA, 50 % "fib", channel support, RSI(14) in OS territory. Potential Risk : Reward ratio is very high here. Chances of winning this one, who knows...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Cskfp9QT.png Size: 152 KB
Click to Enlarge Name: zpTl5jOV.png Size: 150 KB
  • #71
  • Apr 20, 2017 9:57am Apr 20, 2017 9:57am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Tom81
GBP/JPY update -> A pair has broken out of daily wedge formation with impressive 460 pips move. Lets see if we can get some correction around 140 level, before resuming upwards. Technicals are clear, but fundamentals aren't. It's PM May's announcement / Brexit driven move, so we have to be careful what will happen after correction. If we see some risk averse fundamental event happening (like Trump making more mess in Korean Peninsula or Syria), GBP will probably not see continuation of an up move. {image}
GJ H4

sorry if I disturb your charts, here is my view , more from pivot view and non lagging MA.
My tp is upper red curve its MN 200 nonlagging with confl. MR1o and round number may be 141.00

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 88 KB


trade well
from level to level - you need mental strength to reach the summit
  • #72
  • Apr 20, 2017 10:41am Apr 20, 2017 10:41am
Quoting Hpt
{quote} GJ H4 sorry if I disturb your charts, here is my view , more from pivot view and non lagging MA. My tp is upper red curve its MN 200 nonlagging with confl. MR1o and round number may be 141.00 {image} trade well
I'm getting the same target based on fibonacci retracement (23,6% ret -> 118 % ext) 141, but we have strong resistance ahead and I see some divergence forming. I have faded move to 23,6 % ret with 1.3 R profit (less then hoped for ). I'll be waiting for deeper correction now, if it ever comes. I'm not comfortable going long on shallow retracements, risk : reward ratio is not high enough for my win : lose ratio percentage.
Attached Image (click to enlarge)
Click to Enlarge Name: 89CBE2Bs.png Size: 151 KB
  • #73
  • Apr 20, 2017 10:58am Apr 20, 2017 10:58am
EUR/GBP -> Short term bearish trade (0.83) with potential to go lower (0.825, 0.81).
Attached Image (click to enlarge)
Click to Enlarge Name: fDLikgp3.png Size: 166 KB
  • #74
  • Apr 20, 2017 11:18am Apr 20, 2017 11:18am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Quoting Tom81
{quote} I'm getting the same target based on fibonacci retracement (23,6% ret -> 118 % ext) 141, but we have strong resistance ahead and I see some divergence forming. I have faded move to 23,6 % ret with 1.3 R profit (less then hoped for ). I'll be waiting for deeper correction now, if it ever comes. I'm not comfortable going long on shallow retracements, risk : reward ratio is not high enough for my win : lose ratio percentage. {image}

GJ D1

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily fib.png Size: 53 KB


H1

zoom in Mid line is in control and pivots are respected

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1 fib zoom.png Size: 51 KB


green pips
from level to level - you need mental strength to reach the summit
  • #75
  • Apr 24, 2017 3:12am Apr 24, 2017 3:12am
GBPAUD update -> stalking bearish correction
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 53kK55Vs.png Size: 170 KB
Click to Enlarge Name: 2uGpq00k.png Size: 165 KB
  • #76
  • Edited 6:57am May 9, 2017 6:02am | Edited 6:57am
GBP/USD short term correction in play

This is a typical counter trend trade, which I don't trade often as it doesn't have very high win potential when considering decent risk : reward ratio. But when I see double price-RSI divergence in OS or OB area, I get more confident that trade might work out as expected. As you can see on 4h chart, you could easily interpret it as retest of small broken flag formation before bullish continuation. That's why I use tight SL in such trades. If price proves me wrong, I quickly cut my losses and move on.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MlgSmU7L.png Size: 140 KB
Click to Enlarge Name: lqIVUmD1.png Size: 147 KB
  • #77
  • May 9, 2017 6:29am May 9, 2017 6:29am
USD/JPY bullish flag breakout on daily chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: OmC4FfIH.png Size: 133 KB
Click to Enlarge Name: T15C5JNH.png Size: 140 KB
  • #78
  • May 10, 2017 6:15am May 10, 2017 6:15am
GBP/JPY at previous high (breakout or correction)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fyQO0hkE.png Size: 148 KB
Click to Enlarge Name: peXnlrks.png Size: 197 KB
  • #79
  • Last Post: Aug 6, 2017 8:37pm Aug 6, 2017 8:37pm
Hello Tom81,

Nice thread you have here. I like trading using Fibonacci too and trade h4 & day time frames.
Hope you don't mind me sharing some thoughts.

Thanks

For EURAUD Daily, I think the complex correction is completed. Using limit orders to get better risk reward ratio.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDDaily.png Size: 24 KB
"The markets can remain irrational longer than you can remain solv
0 traders viewing now