This is my trading plan. You can look through my published ideas to look at other examples.
I need 3 reasons to enter a trade.
1. A clear direction. I use 3 emas 50, 100, and 200 as shown in the chart.(Required)
2. A horizontal support/resistance area. (Required)
3. Price retrace to one of the emas to act as resistance. (preferably than fib)
4. Fib continuation...
This news strategy lets the wind die down from the price reaction of the news. You have time to place your fib on the news candle and watch the retracement develop. Price has had time to pick a direction from the markets reaction to the news. Sometimes to catch the best price for the retracement you will be using a 1m or 5m chart. SL is easy to see and place. TP...
After seeing several charts on this site, I've noticed some common mistakes; re-tracement levels, pattern recognition, wave counts, and, trend-lines, along with, channel formation cover a lot of them.
Some thoughts:
Re-tracements / Projections don't always conform to 0.62 /1.62 ratios. Think about it. Is a 62% re-tracement really bullish? 38% and 50%...
EURUSD is adhering or responding to the Fibonacci levels all most all of the times. When trader wants to ride the trend this much information is enough to enter and exit trades. We are not trying to forecast the direction or the top/bottom. We are trying to identify important zones in which price may turn in Future.
Price patterns like double top or bottoms...
I still remembered my coach told me to find the evidence of any reversal signals and notice the change of price action on each individual bars. I labelled herewith a higher high (HH) to show an uptrend formation.
When we want to LONG, we look for any evidences to show many HH, and later the price action breaks the red down-trend line in this case (yellow spot)....
This is a 60 min time frame, indicators required:
Stochastic oscillator with parameter 8,3,3
8 EMA & 20 EMA
When to buy if you missed the boat of EMA crossover on 16-Jun
Mind Read:
1) Any Fibonacci Retracement Level? Answer: 23.6%, 38.2% (=S1)
2) Wait for reversal signal (black up arrow), did it close above 8 EMA? Answer: Yes
3) Stochastic (8,3,3) shows price...
How To Use Fibonacci Retracement to find High-Probability Trade Setup
Brief Definition:
Fibonacci retracement is a very popular tool among technical traders and is based on the key numbers identified by mathematician Leonardo Fibonacci in the thirteenth century.
In technical analysis, Fibonacci retracement is created by taking two extreme points (usually a...
Please refer to the other charts I have produced on this methodology.
It takes a long time to put these charts together and then to explain them for clarity for you.
Let's start from the beginning:
1. VIX is a measure of volatility of S&P500 options. If volatility rises, buyers of options are driving up options prices aggressively relative to weaker...
How to Use Fibonacci Retracements
I'm back with another educational post after receiving a lot of requests and today's lesson is on how to use Fibonacci retracements.
I've used a recent market example with NZD/USD to break this down for you.
Let's get straight into the finer details before breaking down each section of the chart shown.
Fibonacci...
Sell GBPJPY (educational)
"kalbotical retracement confluence 1"
1. Up Trend line broken
2. down Trend line formed
3. second leg has a strongest momentum
so possible third leg
for some kind of 1-2-3-4-5 structure )
You can catch momentu e.g with
Squeeze Momentum Indicator
4. Look left for S/R zone
5 perfect Fib level - .618
6. Kalbot RSI ...
In response for your requests guys to explain the rational behind the live trade we took on GBPCHF. Here is the explanation.
On the left hand side daily chart, the price started the bearish behavior on the 78.6 retracement level for the overall bearish wave as shown on chart. As it formed two major bearish shooting star candles.
That was not enough for me to...
For my newer followers or those that missed this post previously, here's a generic trade plan explaining all those horizontal lines on my charts. Notes on the image should be self-explanatory. Minor and minute waves are shown, but this method can be used on any time scale / Elliott Wave degree. Learn more about trading Fibonacci Pinball from the pros at...
This is a continuation of my previous published Charts - Check links below...
A portion of Larry Pesavento & Leslie Jouflas work.
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Covering Fibonacci Retracements Entry Patterns;
Fibonacci Retracement Entries;
Fibonacci Retracement Pattern Structure;
Trading The Fibonacci Retracement...
Some basic "guidelines" about Elliott Waves.
I hope that somehow help to understand how the market really moves.
This is an "update" to my previous published educational chart about Elliott Waves - link below
Safe trades;
I have not posted here in a very long time but I know a lot of you have been asking me to start again. If you have a desire to see more from me here let me know.
USD/JPY - H1 - 2618 Trade Explained
Having had a double top and now approaching a retracement back into the 61.8% Fib level, we can now look for reasons to short the USD.
Unlike patterns we can't just place BUY or SELL orders in advanced.
Once we have completed the rules of engagement below, we are looking for confluence within a certain area that all...
This is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially...
![USDJPY: [Tips] High-Probability Trade with Fibonacci Retracement](https://s3.tradingview.com/b/bAqit1tT_mid.png "[Tips] High-Probability Trade with Fibonacci Retracement")
