Fibonacci levels for intraday trading

Discussion in 'Technical Analysis' started by Hierophante, Jan 26, 2021.

  1. Next time I will add clickable images so we can zoom in.
     
    #21     Jan 27, 2021
  2. %%
    True;
    not that any of those are as useful as a 200 day/week moving average.......................................................................................................
     
    #22     Jan 27, 2021
  3. You'd be surprised, Buckeroo!
     
    #23     Jan 27, 2021
    murray t turtle likes this.
    • %%
    • OK; if its the buckaroo pattern could consider a 50 area LOL:D:D:D:D:D:D:caution::caution:
    • Actually there are so many 50 levels area /LOL one of my chart services puts a 50 level on everything. Put enough moving averages on a chart /may hit something................................................................................................/LOL
     
    #24     Jan 27, 2021
    Turveyd likes this.
  4. Years ago when I traded commodities, it was well known to "buy the 50% retracement".
     
    #25     Jan 27, 2021
    murray t turtle likes this.
  5. I find it's still working quite well nowadays
     
    #26     Jan 28, 2021
  6. Nevertheless, hello everyone,

    Here are the levels for today 28/01/2021

    GBPUSD

    Possible intraday trend : DOWN

    With that in mind, I will take BUY orders at these levels :

    N1: 1.3650
    N2: 1.3626
    N3: 1.3610

    See green arrows in the following graph :

    [​IMG]

    ******
    AUDUSD


    Possible intraday trend : DOWN

    With that in mind, I will take BUY orders at these levels :

    N1: 0.7622
    N2: 0.7597
    N3: 0.7563

    See green arrows in the following graph :

    [​IMG]

    ******
    USDCAD

    Possible intraday trend : UP

    With that in mind, I will take SELL orders at these levels :

    N1: 1.2850
    N2: 1.2891
    N3: 1.2937

    See red arrows in the following graph :

    [​IMG]

    ******
    USDCHF


    Possible intraday trend : UP

    With that in mind, I will take SELL orders at these levels :

    N1: 0.8909
    N2: 0.8925
    N3: 0.8944

    See red arrows in the following graph :

    [​IMG]

    Note that I still have my EURUSD and USDJPY positions from yesterday.

    If the price touches my 0 fibo level, I say that market is making a reversal and I need to update the fibo levels in the opposite side.
     
    #27     Jan 28, 2021
    easymon1 likes this.
  7. easymon1

    easymon1

    fibrtrpiv.png
     
    Last edited: Jan 28, 2021
    #28     Jan 28, 2021
  8. easymon1

    easymon1

    What determines your anchor points?
    delete ;mjf.png
     
    #29     Jan 28, 2021
  9. Only experience. In general I will take the last visible leg up or down from midnight and choose the best fit regarding my opinion. That is why it is discretionary trading, because I trade at my discretion.
     
    #30     Jan 29, 2021
    easymon1 likes this.