Best of Fibonacci Trading

TODAY ON FIBONACCI - EURUSD

2012-05-22T04:46:00.000-07:00

This is enough retracement to start thinking BUY but we have to wait for the 15min TMASlope to confirm this. Good to watch EURUSD.

GBPUSD - SELL

2012-05-11T03:59:00.001-07:00

The combination of Fibonacci and TMASlope seems to be it today as the Sell signal for GBPUSD went well:

The move started from around the 50% retracement line and was confirmed for SELL at the 38.2 level by TMASlope.

UPDATE - FIBONACCI TRADING

2012-05-10T11:05:00.001-07:00

Careful research shows that you can also use the TMASlope Mt4 indicator to confirm your fibonacci entries.

You spot your retracement using the 4hr as usual and make entry with the TMASlope in 15min timeframe.

FIBONACCI TODAY - GBPUSD

2012-04-10T04:27:00.000-07:00

Two entries today and good profit. The move started at about 50% fibonacci level

FIBONACCI TODAY - GBPUSD

2012-04-03T09:45:00.003-07:00

Its good to watch the GBPUSD as its currently around the 50% level. Waiting on the Schaff indicator.

EURUSD

2012-03-22T03:46:00.000-07:00

Good to pay attention to EURUSD price action. Price retraced to the 50% level and good to watch the schaff for any possible BUY.

FIBONACCI - TODAY

2012-03-20T00:22:00.001-07:00

AUDUSD is on an uptrend and we had 38.2 retracement, good to stand by for possible BUY though schaff is still saying wait in 15min.

FIBONACCI - TODAY

2012-03-16T02:15:00.002-07:00

EURUSD bounced off the 50% level and schaff gave a SELL signal, been down by about 20pips today and still on. Let's watch.

FIBONACCI - TODAY

2012-03-15T08:57:00.000-07:00

GBPJPY retraced 38.2% on the fibonacci tool its good to watch for possible BUY. The schaff indicator means we are to wait as price action unfolds.

FIBONACCI - TODAY

2012-03-13T22:55:00.000-07:00

GBPUSD may be set for a SELL after touching the 61.8% retracement point and SCHAFF ready for a SELL in 15min. Im in 7pips already. Remember your exit is the change of the schaff colour .

FIBONACCI - TODAY

2012-03-13T01:19:00.002-07:00

EURUSD bounced off the 50% retracement line but we are yet to have a go to SELL as SCHAFF is still more of BUY, I advise a wait until we see what price action will bring in the next few hours.

USDCHF also has inverse situation to the EURUSD, a bounce from 50% level.

AUDUSD reacted at the 38.2 retracement point and the SCHAFF still not in support of the SELL so its good to wait.

Happy Trading.

THE TRADING PLAN

2012-03-12T07:32:00.000-07:00

Fibonacci trading tools are wonderful, but you can say that if you use them well, managing your entry and exit to ensure maximum profits and minimizing losses. Lot of approaches to using Fibonacci you can find online but in this article I have got something different and very profitable.

In the basic sense, when price retraces to some Fibonacci points we expect price to respond by continue the trend or we have a trend reversal. I have had terrible experience with this in the past until I introduced a filter as explained here.

The price continued the trend on getting to 50% fibo level. Now trend continuation could begin from 23.6 or 38.2 but trade at 50% became valid. I will show u why u have to wait till then. Change the timeframe to 15min and lets see.

Now this is not THEORY its real if you really want to learn start DEMOing and watch your chart to build your confidence. I told my students all the time. DEMO enough to convince yourself. Now at other retracement points no SELL until after hitting the 50% point you remain in trade until the 15min SCHAFF trend changes for your take profit or stoploss.

Now before the trend was DOWN it was UP, let use see examples of the UPTREND. Take a look at the chart below

Here market retraced to the 23.6 level and looking at the 15min timeframe, we have a BUY signal confirming that we can go LONG.

This blog will be more of fibonacci trading with major pairs in focus. Let us have your comments and you can also join us on facebook and twitter.

Regards.