Top 3 Tips For a Fibonacci Trader

Discussion in 'Fibonacci Trading' started by Kaitlin, Oct 20, 2015.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    1 - Choose your wave correctly :

    The idea of using Fibonacci Retracement Levels is to search for a strong move to the up or down side then waiting to enter again with the direction of that move hoping that it will continue so, there is no point if you draw your Fibs in a consolidation area then wait for a price response !!


    2 - Use Round Numbers :

    Since Fibonacci trading involves many psychological factors we should add as much as we can to the power of these factors and Round Numbers is a great trading tool that have a psychological power on the chart especially when a round number is located at the same area of a Fibonacci level.

    3 - Search for Fibonacci Clusters :

    Fibonacci Cluster is nothing more than 2 or more Fibonacci levels located at the same area or trading zone and this will make that zone or price level more powerful than if it was a single Fibonacci level ..


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