Comments on: Fibonacci Forex Trading

By: CristianTari

CristianTari — Fri, 06 Nov 2009 11:34:09 +0000

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

By: gehil

gehil — Fri, 06 Nov 2009 11:02:11 +0000

Thank you man!! is a great video

By: supermalv85

supermalv85 — Fri, 06 Nov 2009 10:39:07 +0000

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

By: leveragefx

leveragefx — Fri, 06 Nov 2009 09:39:21 +0000

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.

By: leveragefx

leveragefx — Fri, 06 Nov 2009 08:50:31 +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 — Fri, 06 Nov 2009 08:12:13 +0000

very nice video

By: forexbrotherhood2008

forexbrotherhood2008 — Fri, 06 Nov 2009 07:35:15 +0000

hello thanks nice info

By: takadapapa

takadapapa — Fri, 06 Nov 2009 07:13:55 +0000

great video. Thank you.
5 stars!

By: StrikeData

StrikeData — Fri, 06 Nov 2009 06:29:25 +0000

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

By: flipearl13

flipearl13 — Fri, 06 Nov 2009 05:41:47 +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 — Fri, 06 Nov 2009 05:09:17 +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 — Fri, 06 Nov 2009 04:56:13 +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 — Fri, 06 Nov 2009 04:14:27 +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 — Fri, 06 Nov 2009 04:06:41 +0000

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

By: CurrencyCafe

CurrencyCafe — Fri, 06 Nov 2009 04:04:02 +0000

I run a hedge fund and Fibonacci trading is the backbone of my trading. This is an excellent video.

By: smklakken

smklakken — Fri, 06 Nov 2009 03:34:33 +0000

Excellent explanation of Fibonacci

By: sbusz

sbusz — Fri, 06 Nov 2009 03:01:03 +0000

nice tutorial. liked how you kept it simple so even a noob like me can understand

By: masmir016

masmir016 — Fri, 06 Nov 2009 02:10:07 +0000

Great , very clear and simple explaination
on Fibonacci Retreacements, easy to understand

By: yusofhardy

yusofhardy — Fri, 06 Nov 2009 01:11:04 +0000

How do you differentiate between retracement and reversal?

By: leveragefx

leveragefx — Fri, 06 Nov 2009 00:16:46 +0000

That’s easy. We use our trend identification tools FX Multimap which shows statistical strength/weakness and also FX Power Index which shows % of currencies that support buying/selling.

IF on the pullback to the fib level there is not much weakness on these tools and the previous move up had HUGE strength then we look at the 38 to 50% fib level to buy and the EXACT entry is when trendline over the highs gets broken! Reverse for shorts. Call us and I’ll give you a week of our classes free.

By: JudiBeaver

JudiBeaver — Thu, 05 Nov 2009 23:27:05 +0000

Your video is really informative and your explanation of Fibonaccis is excellent.

By: cherylish1

cherylish1 — Thu, 05 Nov 2009 23:10:17 +0000

impressive….I want to learn more. This is a great video- well done easy to understand & you keep it simple- thank you!!

By: luckyload3r

luckyload3r — Thu, 05 Nov 2009 22:16:52 +0000

you ever use fibonacci clusters? much better

By: leveragefx

leveragefx — Thu, 05 Nov 2009 21:59:31 +0000

Absolutely. We teach in our classes clusters of Support/Resistance including Fib clusters you’re referring to ( Fib Retracements and Targets) + Previous Days/Weeks/Months highs & lows, & Weekly / Monthly Pivots. A cluster for those who don’t know is when MULTIPLE areas of support/resistance are within a tight 10 to 30 pip area or zone. Markets typically reverse at these.

In fact we do this multi time frame analysis each day for all of our mentor students and the ZONES show up on the charts.

By: leveragefx

leveragefx — Thu, 05 Nov 2009 21:44:40 +0000

We MODERATE user comments as 95% of them are scam site URL’s. If you write a legitimate question we will show it and answer it.