Mar 20
leveragefx asked:
How to make money in Foreign Currencies using Fibonacci Retracements and Fibonacci Profit Targets. Brought to you by www.LeverageFX.com
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Tags: forextrading, exchange, learn, Best Forex Broker, Forex Trading Signals, ypy, expert
March 20th, 2009 at 10:33 pm
The Fibonacci strategy can be very profitable if you know how to correctly implement it.
March 22nd, 2009 at 5:32 am
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
March 25th, 2009 at 9:08 am
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.
March 25th, 2009 at 4:58 pm
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
March 28th, 2009 at 8:43 am
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.
March 31st, 2009 at 11:38 am
Great video! simple and easy even for a newbie like me to understand. Excellent work!
April 2nd, 2009 at 8:07 am
great video. Thank you.
5 stars!
April 3rd, 2009 at 10:25 pm
hello thanks nice info
April 4th, 2009 at 2:10 pm
very nice video
April 5th, 2009 at 9:20 am
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.
April 6th, 2009 at 4:54 pm
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.
April 7th, 2009 at 1:21 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
April 8th, 2009 at 10:21 am
Thank you man!! is a great video
April 10th, 2009 at 3:11 pm
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
April 12th, 2009 at 2:01 am
Good explanation!
April 15th, 2009 at 2:54 am
these forex trading software is making it easier to make money..definately worth a try if you want to start trading.
good video!
April 17th, 2009 at 1:00 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 %
April 19th, 2009 at 8:07 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!
April 20th, 2009 at 9:37 am
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.
April 21st, 2009 at 7:01 am
Nice video. Your software works with MetaTrader4, correct?
April 21st, 2009 at 9:34 pm
What kind of broker I need?
April 23rd, 2009 at 4:35 am
Very good explanation! thank you!
April 23rd, 2009 at 11:11 pm
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.
April 25th, 2009 at 6:23 pm
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.
April 27th, 2009 at 8:36 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.