Fibonacci levels for intraday trading

Hierophante

Hierophante

In this thread I'm going to post intraday Fibonacci levels that I'm using for opening positions. Hope that will help.



GBPUSD - 26/01/2021

Possible trend : DOWN

Here are the target Fibo levels :

N1: 1.3650
N2: 1.3632
N3: 1.3603

My plan is to take some buy orders when the price reaches these levels and take advantage of the rebound ; in the following graph, you can see my levels marked by some green arrows.

gbpusd260121.png
 
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USDCAD - 26/01/2021

Possible trend : UP

Here are the target Fibo levels :

N1: 1.2767
N2: 1.2792
N3: 1.2850

My plan is to take some sell orders when the price reaches these levels and take advantage of the correction ; in the following graph, you can see my levels marked by some red arrows.

usdcad26012021.png
 
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Hierophante said:
In this thread I'm going to post intraday Fibonacci levels that I'm using for opening positions. Hope that will help.



GBPUSD - 26/01/2021

Possible trend : DOWN

Here are the target Fibo levels :

N1: 1.3650
N2: 1.3632
N3: 1.3603

My plan is to take some buy orders when the price reaches these levels and take advantage of the rebound ; in the following graph, you can see my levels marked by some green arrows.

gbpusd260121.png
More...

did you manage to short it about 2 hours ago?
There was an opportunity / a signal to short it.


Possible trend : DOWN

---->

TREND : DOWN

but I doubt it will move much.
 
I've seen only a few entries on ET about Fibonacci... like most traders don't know about it or believe it. (Have even heard the view that Fibonacci is bogus or garbage. If you hear that, don't believe it.)

Understanding Fibs is more valuable than one might imagine.

FWIW...
 
Scataphagos said:
I've seen only a few entries on ET about Fibonacci... like most traders don't know about it or believe it. (Have even heard the view that Fibonacci is bogus or garbage. If you hear that, don't believe it.)

Understanding Fibs is more valuable than one might imagine.

FWIW...
More...

Tell someone who believes in Fib's a bunch of random numbers, it'll still work kinda, as they'll see a pattern in any numbers provided, they might even profit from the random, doesn't mean there is anything in the numbers mind.
 
Turveyd said:
Tell someone who believes in Fib's a bunch of random numbers, it'll still work kinda, as they'll see a pattern in any numbers provided, they might even profit from the random, doesn't mean there is anything in the numbers mind.
More...

Some/enough players see the Fib price levels and often act on them.... same is true for 50 and 200 day moving averages.
 
Scataphagos said:
Some/enough players see the Fib price levels and often act on them.... same is true for 50 and 200 day moving averages.
More...

Atleast with 50 / 200 it's generally the same number, too many use different Fib numbers, not that many believe in either, more in 50/200.


I had Pivots of a web site years back cheap paid service, worked great for a while, then just stopped.

It's a crutch and if the crutch enabled you to see / make profitable trades then all good.
 
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