Today on EURUSD - Daily and H4 charts support Long trades, but… — On the Daily chart (attached), since the beginning of this month, the bulls have been raging; and, though we might have a bearish retracement soon, the bulls seem determined to ...

Hourly Fibonacci Method (Day Trading)

Today on USDJPY – Daily and H4 charts support Short trades. — On the Daily chart (attached), on Friday, last week, we anticipated a bullish retracement based on price’s sharp break above the lower trend-line – which was, most likely, aided by ...

Hourly Fibonacci Method (Day Trading)

Update on yesterday’s EURUSD Long Trade set-up — If you were able to identify the EURUSD Long trade set-up, which occurred yesterday – around 14:00 GMT – and took the trade, that’s great. On the Hourly chart (attached), we had a ...

Hourly Fibonacci Method (Day Trading)

Freedomsg & Fosgate r, you’re much welcome.

Hourly Fibonacci Method (Day Trading)

Today on GBPUSD – Daily and H4 charts support Short trades. — On the Daily chart (attached), yesterday, with the support of higher time frame charts, we concluded our bias was bearish, but that we would like to see price to, not only close ...

Hourly Fibonacci Method (Day Trading)

Today on GBPUSD – Daily and H4 charts support Short trades, but… — On the Daily chart (attached), since the latter part of last month, we’ve been having what I would consider an interesting price action, which resulted in sort of a channel ...

Hourly Fibonacci Method (Day Trading)

Hi Freedomsg, sincerely, the issue of entry style is an individual thing. Personally, I don’t wait for any candle formation; I simply place my Limit Order(s) at a certain support or resistance level where I expect price to reverse favorably, get ...

Hourly Fibonacci Method (Day Trading)

Freedomsg, I was referring to the primary method discussed on this thread. A few of the parameters necessary to make the trade a valid one – based on the thread’s method – were not in place. For instance, I mentioned the case of no overlapping fib., ...

Hourly Fibonacci Method (Day Trading)

Today on USDJPY – We seem to be at the beginning of a bullish retracement. — On the Daily chart (attached), two days ago – on Wednesday – we identified the 88.00 level as “an area where some institutional traders had “large stop-loss sales ...

Hourly Fibonacci Method (Day Trading)

Hello Freedomsg, I would’ve loved to reply much earlier, but I hope my explanation is still useful. I’ve attached a similar chart to yours, for clearer explanation. The 38.2% seems nice to me, primarily because of its alignment with a previous swing ...

Hourly Fibonacci Method (Day Trading)

Hello Dalla, thanks for your kind words. I determine my swing lows based on a candle with two higher candles (not one) on both sides; and vice versa for swing highs. If you’re using MT4 trading platform, you can check out the “Fractals” tool: it ...

Hourly Fibonacci Method (Day Trading)

Today on EURUSD - Daily and H4 charts support Long trades, but… — On the Daily chart (attached), we would observe that the EURUSD is in a very strong uptrend; an uptrend that started around March, this year (2009). Although, the uptrend is ...

Hourly Fibonacci Method (Day Trading)

Today on USDJPY – Daily and H4 charts support Short trades. — On the Daily chart (attached), as with other higher time frame charts (Weekly and Monthly), it’s very much apparent that we are in a strong downtrend. The bears seem unrelenting. ...

Hourly Fibonacci Method (Day Trading)

Victor, you’re absolutely correct with the 61.8%. There was a nice setup at that level. Actually, I always prefer to go for a confluence that includes the most recent “broken” swing high/low. In the case of USDCHF in question (chart attached), the ...

Hourly Fibonacci Method (Day Trading)

Today on USDCHF – Daily and H4 charts support Short trades. — On the Daily chart (attached), as anticipated yesterday, the bulls’ movement has been decisively halted, and price seems to have resumed its long term downtrend. The next major ...

Hourly Fibonacci Method (Day Trading)

Thanks Dliberators, I’m quite aware you usually use the H4 charts for your entries. There’s been no Short trade setups on the USDCHF Hourly chart, so I’m yet to take any trade based on the thread’s method.

Hourly Fibonacci Method (Day Trading)

Today on USDCHF – Is the bullish retracement ending so soon? — On the Daily chart (attached), since late September, price has been having a bullish retracement, in a downtrend. We anticipated that price would travel upward toward the upper ...

Hourly Fibonacci Method (Day Trading)

Thanks freedomsg; the 4 hr time frame is also very good – especially if you don’t have much time at your disposal. Personally, I believe the most important thing is for you to feel comfortable with the primary time frame (as well as the trading ...

Hourly Fibonacci Method (Day Trading)

Today on EURUSD – NFP Rules. — Pls NOTE: Today is another first Friday, hence we expect the Non-Farm Payroll (NFP) report to have its impact on the general behavior of the markets. Again, as I’ve always said, today – as with most first Fridays ...

Hourly Fibonacci Method (Day Trading)

Today on USDCHF - Daily and H4 charts support Long trades, but… — On the Daily chart (attached), price is currently having a bullish retracement in a downtrend. We anticipate that price would travel upward toward the upper edge of the downward ...

Hourly Fibonacci Method (Day Trading)