FxGhani Fibonacci Trading ( Intermediates ). - FxGhani Trading Learning Place

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FxGhani Fibonacci Trading ( Intermediates ).


Fibonacci trading: This strategy works with a small time frames (5 min., 15 
min. 30 min. even and 1 hr.) thats because with the smaller the time frame the risks of being wrong is always bigger.

Time Frame: over 5 min. and less than 3hr.

Currency: any
Indicators: 5WMA

Look at the price waves. Find the most recent swing high and the most recent swing low = so called Fibonacci A swing and B swing.

Pull Fibonacci from A to B.
To know which direction to pull (down or up) simply look at the trend; if its unclear, find appropriate AB swings and set Fibonacci in both directions.
Once set, wait and watch the retracement from AB swing to unfold. During the retracement there are

3 conditions to be met in order to consider trading:

*    The price must touch 5WMA.
*    The price must at least touch 0.382 Fibonacci retracement level.
*    The 0.618 Fibonacci retracement level must not fail. Here it means the price should not close below (uptrend) / above (downtrend) 0.618 retracement line. It can touch or poke it but the level withstand the attack.

When all 3 criteria are met, enter once the candle is clearly closed to 5 WMA
for LONG entry, below for SHORT Entry.
Stop order is always placed 4-5 pips above (downtrend) / below (uptrend) the
0.618 Fibonacci retracement level.
Profit target is set to 1.618 Fibonacci expansion level derived from point A.

FxGhani Fibonacci Trading ( Intermediates ).

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