Dec
03
Fibonacci Forex Trading
Byleveragefx asked:
How to make money in Foreign Currencies using Fibonacci Retracements and Fibonacci Profit Targets. Brought to you by www.LeverageFX.com
25 Comments
December 5th, 2008 at 5:42 pm
Great video! simple and easy even for a newbie like me to understand. Excellent work!
December 8th, 2008 at 4:07 pm
great video. Thank you.
5 stars!
December 10th, 2008 at 10:22 pm
hello thanks nice info
December 13th, 2008 at 1:01 pm
very nice video
December 15th, 2008 at 7:38 pm
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.
December 16th, 2008 at 3:28 am
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.
December 19th, 2008 at 5:55 am
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
December 22nd, 2008 at 6:24 am
Thank you man!! is a great video
December 24th, 2008 at 7:31 am
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
December 24th, 2008 at 7:06 pm
Good explanation!
December 26th, 2008 at 5:24 am
these forex trading software is making it easier to make money..definately worth a try if you want to start trading.
good video!
December 28th, 2008 at 5:54 pm
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 %
December 28th, 2008 at 6:41 pm
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!
December 29th, 2008 at 7:44 pm
Our software works with eSignal data and we’re adding another data feed soon. Our traders mostly DO use Meta Trader to enter their orders. It’s been a long time since I’ve posted to You Tube and our techniques have improved dramatically.
For instance, we now have a way to scan to see which currencies to buy and which to sell. Our FX Multimap trend allows you to sort and watch the STRONGEST trending and auto link them to charts even.
December 30th, 2008 at 12:49 pm
Nice video. Your software works with MetaTrader4, correct?
December 30th, 2008 at 3:37 pm
What kind of broker I need?
January 2nd, 2009 at 9:37 pm
Very good explanation! thank you!
January 6th, 2009 at 4:12 am
Hehe.. for every trading method there is a chart situation which will fit and is excellent in being an example. In this case fibonacci retracement. Have seen a lot which were perfectly matching for RSI, CCI and so on. The question is which will really work in the future and not in the past. but 60 to 75 is a realistic statement and everboy needs to find out what he should use. So well explained athough!! Thx and Greetz from Germany.
January 9th, 2009 at 3:40 am
Most of our group use a 50 tick chart. We also look at multiple time frame trends and primarily trade with the trend until it moves statistically too much (we have a stat tool that tells you this) and then look for divergence in our trend tool for counter trend trades. I only posted a 5 min chart for this video example because so many people use it.
January 10th, 2009 at 10:27 am
You are EXACTLY correct. We use a technique called the Trend Capture Lines for entry. On trades that never break this level we don’t enter and thus NO LOSS. In some instances our entries are 3 to 5 pips worse than the Fib levels but most of the trades work and we avoid a ton of losing trades. It also lets us get into some shallow 38% fib pullbacks and not worry about waiting for the 50 or 62%!
We teach this in our class. Email us or call and we’ll give you a free week and explain this.
January 10th, 2009 at 11:35 am
Except, that there´s no way to know when is not going to go to the first percentage level. It might start working as in the example above and get to 23% not 50% and then turn around. Now you have problems
January 12th, 2009 at 1:26 pm
LOL!!! your the only guy that seems to know what your talking about…. i enjoy trading the EUR/USD and GBP/USD….45 pips isnt enough for me…. wink wink ;D
January 15th, 2009 at 4:39 pm
What time frame do you work in?
January 16th, 2009 at 1:50 am
yeah 1 of the best vid..hmmm i just wish i have the fibonacci profit target in my chart..so now i’ll have to use the old fashion way..the calculator uhuhu..thx for posting..
January 19th, 2009 at 11:30 am
thanks for the info, its helpful