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I Need Help With Fibonacci


paragon

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Re: I NEED HELP WITH FIBONACCI

 

Your welcome paragon and zulkizm.

 

I think you can use fibo indicator at any time frame coz the each fibo level (let say level 23.6 or 38.2 and other levels) should be showing the same price (for each fibo level) on each time frame. In other word, no matter time frame you put your fibo indicator, it will show the same price for each level.

 

Following is the fibo indicator that I currently use. Hope it would be useful.

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Re: I NEED HELP WITH FIBONACCI

 

the greatest challenge i am facing with Fibonacci is determining where the market is going to be heading.

sometimes i make the setup for sell and it ends up buying instead.

can anybody please shade more light on how to setup Fibonacci on a chart properly.

thanks

paragon.

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Re: I NEED HELP WITH FIBONACCI

 

the greatest challenge i am facing with Fibonacci is determining where the market is going to be heading.

sometimes i make the setup for sell and it ends up buying instead.

can anybody please shade more light on how to setup Fibonacci on a chart properly.

thanks

paragon.

 

Try looking for the most recent highs and lows (for example on a 4H chart): draw your Fib from left to right, so if the highs are rising you'll have a setup on the long side.

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Re: I NEED HELP WITH FIBONACCI

 

The question of what time frame for Fibs is a rather large question. It depends on what you want to do. If you want to catch big moves then draw fibs from the previous days high and low. Waite for the price to get to one of the fib points then drop down to a smaller time frame..like 1hr and see the reaction there. Does it turn on that point ect. Usually you can then get a big move.

 

You can use fibs on 5min charts and trade off 1min charts. All you do is again draw fibs on 5min wave high and lows and trade when the 1min turns.

 

A very successful way of trading fibs though is when multiple time frame fibs converge around 1 point. This is a very powerfull indication that price will bounce and retrace. A easy way to trade big moves or just scalp small ones.

 

Fibs can be successful on all time frames..You just have to understand what reaction is at those points.

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Re: I NEED HELP WITH FIBONACCI

 

I am looking for a fib tool, do not know if it exists but the idea is simple.

 

You draw it on your chart, after a break of the upper fib (100) it places an order on an inner level (38.2) with a set stop (0) and a set tp (138.2)...if price hits the 138.2 without retracing to the 38.2 the order is cancelled. Can anyone help or suggest somewhere to go to ask a coder? We have many talented coders here...do we have a thread to request indi's programmed?

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Re: I NEED HELP WITH FIBONACCI

 

I don't think we're allowed to post other forum's links here. That thread is dead...but understand it, how to find support & resistance and how to walk fibs and you have an almost complete system with no indicators. Most fib traders use retracements...I use this technique of fib extensions after s/r breaks with good results.

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Re: I NEED HELP WITH FIBONACCI

 

It is be dead from the point of view that the originator stop writing on it for health reasons. However, the information is readily accessible to the nonprofessional reader, as post it above in the forex factory forum. 8-)

 

The originator stopped running it because he started up a paid service and got the boot from what I remember...and I was following it everyday. What they are doing now is far from what he was teaching IMHO.

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Re: I NEED HELP WITH FIBONACCI

 

hi...fibonacci is a great tool..

it is leading indicator...once you used to it ..u can have nice prediction on market target...the way i used it.. is little bit difference..i used fibo on the reversal CS to measure the strength of the reversal CS. Tp at Max fibo 423.

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Re: I NEED HELP WITH FIBONACCI

 

i am finally getting to know how to use fib tool.

what i have discovered is that fib tool works very well with candle stick formation near resistance and support levels. morning star and evening star candle stick pattern are very popular.

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Re: I NEED HELP WITH FIBONACCI

 

i am finally getting to know how to use fib tool.

what i have discovered is that fib tool works very well with candle stick formation near resistance and support levels. morning star and evening star candle stick pattern are very popular.

 

 

you are damn right...when ever cs reversal happen at Support or Resistance..it is an early signal...furthermore it is happen at 38.2..61.8..78.6...

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Re: I NEED HELP WITH FIBONACCI

 

Hello all, i am currently trying to learn how to trade using fibonacci tool and would very much appreciate any help from members of this great forum.

thanks in advance

paragon.

 

hi paragon

try to find the high and low of any trend at H4 chart, go long with any candled open upper 50 % and go short with any candled open under 50 %.

regards

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