Comments on: Fibonacci Forex Trading

By: leveragefx

leveragefx — Sat, 30 Jan 2010 23:09:51 +0000

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.

By: forextrainer

forextrainer — Sat, 30 Jan 2010 22:43:03 +0000

very nice video

By: forexbrotherhood2008

forexbrotherhood2008 — Sat, 30 Jan 2010 22:08:08 +0000

hello thanks nice info

By: takadapapa

takadapapa — Sat, 30 Jan 2010 21:41:50 +0000

great video. Thank you.
5 stars!

By: StrikeData

StrikeData — Sat, 30 Jan 2010 21:20:05 +0000

Great video! simple and easy even for a newbie like me to understand. Excellent work!

By: flipearl13

flipearl13 — Sat, 30 Jan 2010 21:07:38 +0000

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.

By: midwesttransplant

midwesttransplant — Sat, 30 Jan 2010 20:56:51 +0000

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

By: leveragefx

leveragefx — Sat, 30 Jan 2010 20:22:14 +0000

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.

By: leveragefx

leveragefx — Sat, 30 Jan 2010 19:36:50 +0000

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

By: wwwForexsigcom

wwwForexsigcom — Sat, 30 Jan 2010 19:20:37 +0000

The Fibonacci strategy can be very profitable if you know how to correctly implement it.