Hey fellow traders i hope all is well for you and yours! I’d like to give you a free gift that was given to me by a mysterious professional trader named Raj. I am doing this in the spirit of another blog i follow where everything is free without any form of advertising at all, yet has quality content and a great community rivaling dare i say babypips. Which is my second free source of training. This guy Raj shows up on the forum ad starts a thread called fibs 101. I did not pay much attention to it at first but noticed the thread gaining attention at a fast rate so i finally headed over to check it out. I was very impressed with the information and even more impressed with the backtesting result i was getting! Then Raj said good bye and showed a pic of him in the ocean looking at the sunrise. What a beautiful kind act on his part! I am by no means a pro using this system. I will do my best to explain it to you here. I have never seen the fibs retracement used this way but it is very powerful.
The first thing you have to do is reset the fibonacci retracement tool as follows.
Note make sure you put the negative sign before the ones that have it ie. -0.18 ect…
(leave the presets in there, but get rid of 268 468 etc)
0.786 = 786
0.86 = 86
-0.618 = 162
-0.27 = 127
-0.18 = 118
Your fibs should look like the one in the first attachment.
Here are some examples:
You basically apply the fibs to a swing high and swing low then wait for the retrace and candle stick formation. So it’s A swing high or low to B swing high or swing low C is your trigger and D Is the target.
Okay now that i got your attention i am going to really make your day and give you another Free Gift that was given to me by a member of our community as well! All i ask is you share it with a struggling trader who deserves it! Enjoy!
Fib 101 Remeinder v2.pdf (1.07 MB)