forextrainer(Sunday 20th of July 2008 04:37:12 PM)
very nice video
supermalv85(Wednesday 9th of July 2008 07:04:43 PM)
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
leveragefx(Thursday 10th of July 2008 08:51:18 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.
CristianTari(Friday 27th of June 2008 09:30:37 AM)
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
leveragefx(Thursday 10th of July 2008 08:49:01 AM)
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.
