imresg

Easiest Way to Draw Fibonacci Levels

FX:AUDUSD   Đô la Úc/Đô la Mỹ
My entire trading strategy is built around how I draw and utilize Fibonacci levels. I use Fibonacci levels to determine precise entry, target, and stop loss placement in combination with other technical analysis methods. The biggest problem I see with a lot of traders is that they do not know how to draw Fibonacci levels properly. So I will show you my method and you will see that the market really seems to react to it. If you have any questions please post a comment below.

Step 1: Go to the Monthly timeframe and pick the previous month's fully formed candle. If the previous month's candle does not have a large body relative to the rest of the order flow, then it is perfectly acceptable to go back two months and pick that candle instead.
Step 2: If it is a Bullish candle draw your Fibonacci levels from the high of the candle to its low. If it is a Bearish candle draw your Fibonacci levels from the low of the candle to its high.
Step 3: Switch to a lower timeframe ( daily chart and lower) and observe how price reacts to the Fibonacci levels as support / resistance
Step 4: The following month re-draw your Fibonacci levels if required

Tips:
1)On my charts I include the 1.272 and 1.414 levels as well as the 2.0 level. These are not automatically visible
2)You can also 'reverse' the levels (simply draw them in the opposite direction or use the reverse function in the Fibonacci tool's settings) if the current month's price action violates the 0 level. This does not happen often.

Example: AUDUSD             . I have drawn the Fibonacci levels from the low to the high of the October Monthly Candle

snapshot


Now look at the same Fibonacci levels on the Hourly Timeframe. I have highlighted clear rejections in November of Fibonacci levels that can be used as entry points and the elongated rectangle shows a clear demand region near the 1.00 level.

snapshot



Very Easy to understand
Phản hồi
Awesome Dude! Keep it up!
Phản hồi
very nice..
+1 Phản hồi
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất