Fibonacci levels for intraday trading

[Hierophante]

Next time I will add clickable images so we can zoom in.

 

[murray t turtle]

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

%%
True;
not that any of those are as useful as a 200 day/week moving average.......................................................................................................

 

[Scataphagos]

%%
True;
not that any of those are as useful as a 200 day/week moving average.......................................................................................................

You'd be surprised, Buckeroo!

 

[murray t turtle]

• You'd be surprised, Buckeroo!

  %%
• OK; if its the buckaroo pattern could consider a 50 area LOL
• Actually there are so many 50 levels area /LOL one of my chart services puts a 50 level on everything. Put enough moving averages on a chart /may hit something................................................................................................/LOL

 

[Scataphagos]

one of my chart services puts a 50 level on everything.

Years ago when I traded commodities, it was well known to "buy the 50% retracement".

 

[Hierophante]

Years ago when I traded commodities, it was well known to "buy the 50% retracement".

I find it's still working quite well nowadays

 

[Hierophante]

Nevertheless, hello everyone,

Here are the levels for today 28/01/2021

GBPUSD

Possible intraday trend : DOWN

With that in mind, I will take BUY orders at these levels :

N1: 1.3650
N2: 1.3626
N3: 1.3610

See green arrows in the following graph :



******
AUDUSD


Possible intraday trend : DOWN

With that in mind, I will take BUY orders at these levels :

N1: 0.7622
N2: 0.7597
N3: 0.7563

See green arrows in the following graph :



******
USDCAD

Possible intraday trend : UP

With that in mind, I will take SELL orders at these levels :

N1: 1.2850
N2: 1.2891
N3: 1.2937

See red arrows in the following graph :



******
USDCHF


Possible intraday trend : UP

With that in mind, I will take SELL orders at these levels :

N1: 0.8909
N2: 0.8925
N3: 0.8944

See red arrows in the following graph :



Note that I still have my EURUSD and USDJPY positions from yesterday.

If the price touches my 0 fibo level, I say that market is making a reversal and I need to update the fibo levels in the opposite side.

 

[easymon1]

 

[easymon1]

Nevertheless, hello everyone,

Here are the levels for today 28/01/2021

GBPUSD

Possible intraday trend : DOWN

With that in mind, I will take BUY orders at these levels :

N1: 1.3650
N2: 1.3626
N3: 1.3610

See green arrows in the following graph :



******
AUDUSD


Possible intraday trend : DOWN

With that in mind, I will take BUY orders at these levels :

N1: 0.7622
N2: 0.7597
N3: 0.7563

See green arrows in the following graph :



******
USDCAD

Possible intraday trend : UP

With that in mind, I will take SELL orders at these levels :

N1: 1.2850
N2: 1.2891
N3: 1.2937

See red arrows in the following graph :



******
USDCHF


Possible intraday trend : UP

With that in mind, I will take SELL orders at these levels :

N1: 0.8909
N2: 0.8925
N3: 0.8944

See red arrows in the following graph :



Note that I still have my EURUSD and USDJPY positions from yesterday.

If the price touches my 0 fibo level, I say that market is making a reversal and I need to update the fibo levels in the opposite side.

What determines your anchor points?

 

[Hierophante]

What determines your anchor points?
View attachment 250179

Only experience. In general I will take the last visible leg up or down from midnight and choose the best fit regarding my opinion. That is why it is discretionary trading, because I trade at my discretion.