Fibonacci Trade SELL Now? GBP/USD

Hi I am fairly new to forex and have been testing out various strategies/systems mentioned on this site and it’s a great resouce. More recently I have been looking at fibonacci retracments. I am just having trouble drawing the lines correctly so that the 61.8 and 50.0 levels are touched with the price and I always miss and mess up trying to buy at those levels. So instead I wait until a swing low and hight have formed and wait for the price to go down and hit support (50 ish) and the i draw my lines so that it touches the 50 support. From there i wait until the 1.312 resistance it hit. Then i look for the rsi to be up around 60+ and for stocks to have made high and going down, then I enter my short trade.

I am just macking sure I am on the right track and if anyone with proper knowelage can help me out give me their feedback thank-you.
Let me know if I have done anything wroung or has anyone else drawn their line differently, because thats what im unsure of.


My name is Ryan and I have been trading on a demo account for about 2 months just learning what forex is all about and I am planning on trading live in about 3 more months, I think I still have a lot to learn considering in 15.

You have a good start going there. I have found that when drawing trend lines and fibos switch your chart over to the line chart and draw your lines then switch back to candles. You get more accurate readings that way.