Missing a beautiful trade could be frustrating at times… lol. Unfortunately, as you’ve probably known already, because I always employ overlapping fibs and 61.8% or 78.6% fib retracements, I wouldn’t have taken the trade – even if I was in the ...

Hourly Fibonacci Method (Day Trading)

My view on the USDJPY is similar to those on the other major pairs: while the H4 supports Long trade, the Daily shows price has got so many resistance levels it has to contend with to keep its upward move (looking at the attached Daily chart, we’ve ...

Hourly Fibonacci Method (Day Trading)

Today on GBPUSD – Are the Daily and H4 charts supporting Long trades? — NOTE:These are very challenging times for trending methods: judging from the four majors that I trade, the market simply is indecisive. Like me, if you decide to stay in ...

Hourly Fibonacci Method (Day Trading)

Nice work here Ufgators!

1H Fib Trades

You're welcome Aftab; and, really, you guys are doing great here. I’ll try and visit this thread often – I’m sure it would worth it.

Damion's Tribute

Yeah! I meant fib. convergence. Gartley is also a very great pattern; it, more or less, uses overlapping fibs (fibs convergence) too – only not in a trending market. I have a need for consistency: the need to settle down to a method and stay with it ...

Hourly Fibonacci Method (Day Trading)

Hello Httham, welcome to FF. Yes! The core method is well proven – it’s been in existence years before I understood the phrase “currency-trading”… lol; and I know a handful of senior colleagues that have gone ahead to become successful professional ...

Hourly Fibonacci Method (Day Trading)

D liberators, referring to your charts on posts #55, 56, 57, 58 These are lovely examples of the power of Fibonacci retracements when used to “buy dips in up-trends” or “sell rallies in down-trends.” However, I could see you don’t employ overlapping ...

Hourly Fibonacci Method (Day Trading)

Referring to your question on post #62 I always draw my fibs using hourly swing highs/lows (or even higher time frames highs/lows if possible). The 15min & 5min charts are always only used to have a clearer view of the hourly chart pattern & price ...

Hourly Fibonacci Method (Day Trading)

[quote=lefteye;2892721] Lefteye, thanks for your kind words; you’ve got lovely questions here. First, let me clarify this: what do you mean by R/R? sorry I’m not too good with abbreviations. Yes! There was a previous hourly high around the fibs ...

Hourly Fibonacci Method (Day Trading)

@ D liberators and Lefteye Pardon my delayed replies to your comments & questions; I’ve not been fully available. I’ll do that ASAP. @ Finswin Thanks.

Hourly Fibonacci Method (Day Trading)

Update on today’s GBPUSD Short Trade set-up — Eventually, on this trade, I had a maximum loss of almost 0.5% of my capital. However, sometimes in a lost trade, there’re one or two lessons we could gain: NOTE: I captured the attached 5min chart ...

Hourly Fibonacci Method (Day Trading)

Short Trade set-up on GBPUSD Hourly chart. — Pls. NOTE: As at the time of this posting, price had already rallied. These things happen so fast at times; but for the sake of study, I decided to go ahead and post it. Also NOTE that the rally ...

Hourly Fibonacci Method (Day Trading)

Yeah, I agree using candles for entries sometimes keeps one from bad trades. I was using them on the 15min chart, but I found myself more at peace with trusting the strength of support/resistance levels to reverse price in my favor. Certainly, it ...

Hourly Fibonacci Method (Day Trading)

Update on today’s EURUSD Long Trade set-up — Hi All, If you were able to identify the EURUSD Long trade set-up and took the trade; that’s nice, because it happened quite fast. The Hourly chart (attached) shows the set-up I saw. Hope you can ...

Hourly Fibonacci Method (Day Trading)

D liberators, you’ll definitely be at home here. You’re welcome: let’s grow together. Yes, I look at candle formations, but mainly on the Daily chart and above. Observations on the H4 chart and below are, more or less, fully mechanical.

Hourly Fibonacci Method (Day Trading)

Thanks Sriloba. Lefteye, you could try Sriloba’s suggestion. I’ve seen a couple of colleagues use the fractal indicator, but, for now, I’m so used to identifying the high/lows with my own eyes. But, make sure the fractal identifies high/lows based ...

Hourly Fibonacci Method (Day Trading)

[quote=lefteye;2890361] Hi Lefteye, these are nice questions; thanks. A swing high is a bar/candle preceded and succeeded by two lower highs (vice versa for a swing low) – thanks to my mentors… . I hope that answered the first and second ...

Hourly Fibonacci Method (Day Trading)

Thanks Soyabean

Hourly Fibonacci Method (Day Trading)

Today on EURUSD – Daily and H4 charts support Long trades. — On the Daily chart (attached), price is conveniently out of and above its symmetrical triangle formation: previous swing highs are being broken to the upside. The latest swing high ...

Hourly Fibonacci Method (Day Trading)