Fibonacci levels for intraday trading

All yesterday trades have been closed with more or less profits, which is a good think ; it remains me only a USDJPY block of positions, which I'm planning to close today, if the market allows it.

That being said, here are the levels for today :

EURUSD

Possible current intraday trend : DOWN

In that context, I'm looking for BUY orders at these levels :

N1: 1.2090
N2: 1.2069
N3: 1.2039

See green arrow in the following graph :

eurusd29012021.png


******
GBPUSD

Possible current intraday trend : DOWN

In that context, I'm looking for BUY orders at these levels :

N1: 1.3700
N2: 1.3683
N3: 1.3659

See green arrow in the following graph :

gbpusd29012021.png


******
AUDUSD

Possible current intraday trend : DOWN

In that context, I'm looking for BUY orders at these levels :

N1: 0.7634
N2: 0.7608
N3: 0.7579

See green arrow in the following graph :

audusd29012021.png


******
USDCAD

Possible current intraday trend : UP

In that context, I'm looking for SELL orders at these levels :

N1: 1.2891
N2: 1.2932
N3: 1.2979

See green arrow in the following graph :

usdcad29012021.png


******
USDCHF

Possible current intraday trend : UP

In that context, I'm looking for SELL orders at these levels :

N1: 0.8910
N2: 0.8933
N3: 0.8695

See green arrow in the following graph :

usdchf29012021.png
 
Scataphagos said:
Years ago when I traded commodities, it was well known to "buy the 50% retracement".
More...
%%
That most likely still works, even if not exact;
in that market.
I did some testing with fib levels,pivot points, moving averages, williams %.
BIG problem i could not even see my price candles with all that junk on\intraday /LOL
So i had to take most of all that junk off to even read my charts..............................................................................................................
 
murray t turtle said:
%%
That most likely still works, even if not exact;
in that market.
I did some testing with fib levels,pivot points, moving averages, williams %.
BIG problem i could not even see my price candles with all that junk on\intraday /LOL
So i had to take most of all that junk off to even read my charts..............................................................................................................
More...

Yes, information overload.

KISS baby, as always! :)
 
I don't know about you two murray t and Scataphagos (maybe you are into trading for a longer time than me), but I find that in forex market intraday movements are less erratic than years before in the shorter time frames (less than 1 hour). And I don't see anymore big movements of 150pips on a NFP for example. Some guys are saying it is because of liquidity brought into the markets by algorithms and high frequency trading, but I don't know if it true or just another urban legend.
 
Not a fan of Fib Levels at all.

There are some cases where one of the Fib levels absolutely coincides with a top/bottom tick, but I don't think its originates from people watching the fib levels.
Its usually because of another area of support or resistance at the same level. Ie previous prices, whole/half dollar, popular MAs etc.

When you plot 165million fib points its bound to happen.
 
gaz0001 said:
Not a fan of Fib Levels at all.

There are some cases where one of the Fib levels absolutely coincides with a top/bottom tick, but I don't think its originates from people watching the fib levels.
Its usually because of another area of support or resistance at the same level. Ie previous prices, whole/half dollar, popular MAs etc.

When you plot 165million fib points its bound to happen.
More...

O.M.G. LOL !!! This is funnier than hell. "When you plot 165 million fib points it's bound to happen"

Good one. :D
 
gaz0001 said:
When you plot 165million fib points its bound to happen.
More...

If you look closely at this thread, you will see there is only THREE levels per pair. Not millions. I find them quite accurate ; and in my opinion, there work not because of lots of people watching them, but because it is an intrinsec property of the tape.
 
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