Fibonacci Forex Trading
Tuesday, July 28th, 2009 at
10:04 am
leveragefx asked:
How to make money in Foreign Currencies using Fibonacci Retracements and Fibonacci Profit Targets. Brought to you by www.LeverageFX.com
Nintendo DSi SuperStore
No TweetBacks yet. (Be the first to Tweet this post)
Tagged with: Foreign Currencies • Forex Trading • Targets
Filed under: Videos
Like this post? Subscribe to my RSS feed and get loads more!
Possibly related posts
- Start Forex Trading Forex Strategy How to turn 370 into 7300 in 2 short months with Forex Robot
- Forex Pivot Point Trading
- zulu trade day 4 Autotrade FOREX,free fx signals,zulu trade,forex systems,fx tips
- FOREX Training – Timing Your FOREX Trades Pt 3
- How to Make Niche Market Research in Affiliate Marketing
Your video is really informative and your explanation of Fibonaccis is excellent.
That’s easy. We use our trend identification tools FX Multimap which shows statistical strength/weakness and also FX Power Index which shows % of currencies that support buying/selling.
IF on the pullback to the fib level there is not much weakness on these tools and the previous move up had HUGE strength then we look at the 38 to 50% fib level to buy and the EXACT entry is when trendline over the highs gets broken! Reverse for shorts. Call us and I’ll give you a week of our classes free.
How do you differentiate between retracement and reversal?
Great , very clear and simple explaination
on Fibonacci Retreacements, easy to understand
nice tutorial. liked how you kept it simple so even a noob like me can understand
Excellent explanation of Fibonacci
I run a hedge fund and Fibonacci trading is the backbone of my trading. This is an excellent video.
The Fibonacci strategy can be very profitable if you know how to correctly implement it.
Our TopGun Software NOW HAS AUTOMATIC Fibonacci thanks to our new Visual Basic Programming language and one of our happy customers Reza who spent hundreds of hours programming AUTO Fibs! Thanks Reza, now ANYBODY can properly use Fibonacci
Yes, this is exactly what we teach our traders. There are indeed Fib patterns off of different time frame trends and when they line up they are called FIB CLUSTERS. Buying Fib cluster support or selling Fib cluster resistance are some of the highest probability trades.
We also teach which Fib level to buy/sell based on our FX Multimap trend strength and where the currency is on longer term charts.
Our new FX Power Index trend tool also improves accuracy.
With have competing Fib patterns (for ex. one that forms over a couple of days vs. one that forms over a couple hours), how do you know which to trade. I was just stopped out on a trade from a strong short term down trend on a bounce to the 61.8 level (I shorted) but realized that the low was actually the 50% retracement on a big 2 day move and the market kept moving up.
Is that the kind of thing that you think accounts for many busted Fib trades(or news of course).
Thanks!
Thanks
amazing video! the key to fibonacci trading is identifying which highs and lows to trace. watched this video over and over for a week and i’ve been making an average of 30pts each time i get in. try using the macd together with this and you may see a signal for a great retracement.
Great video! simple and easy even for a newbie like me to understand. Excellent work!
great video. Thank you.
5 stars!
hello thanks nice info
very nice video
Time frames to use Fibonacci are irrelevent in my opinion. A swing as defined as a movement up or down can be seen on 1 min chart, 5 min, 60 min, etc. What you should do in using Fibonacci is make SURE that the swing is at least 20 to 30 pips. Fibs don’t work well at all on tiny 10-15 pip moves. And on more volatile currencies such as GBP/JPY use 30-40 pip swings MINIMUM. Again the swing is the swing so timeframe of chart isn’t relevent for day trading. For swing trades use 60, 240 or daily.
The 1.618 is a Fibonacci profit target to exit your trend trades at and consider counter trend IF there are other factors such as other support/resistance there and how far overextended the trend is. In doing a counter trend trade at that level I typically will look for at LEASE a 38% Fibonacci pullback to look to exit at. That should be an area to LOOK for an exit. The actual exit is often a much bigger profit than this as you need to use trailing stops.
it’s a pretty solid explanation. But I was wondering why you didn’t mention anything about the time frame. The lower low and higher high looks heaps different from one time frame chart to the other. So which one is specifically there to use? : d
Thank you man!! is a great video
Hi , thanks for the video, I would like to know which is the profit target when we buy or sell at 1.618% level? Thanks
Good explanation!
these forex trading software is making it easier to make money..definately worth a try if you want to start trading.
good video!
This is a TRUE comment! Any BS indicator out there has times where it works. Even a broken clock is right twice a day! I bet though if you ask any profitable trader if they believe in Fibonacci retracements and especially Fibonacci profit targets they will say they do and almost all will USE it. The hard part about Fibonacci levels is WHICH to use? We draw trendlines over/under the counter trend swing to know EACTLY WHEN to get in and thus fewer and smaller losses and higher win %
We work with FXDD, FXCM, and FX Solutions. We are adding another data feed that costs less than eSignal and thus we will be adding MANY other brokers in the future. We give our software FREE to those who trade with us through our brokers. We also have a 24 hour FREE chat room for all of our traders. We trade as a team!