How to draw & use fibonacci retracement chart in meta trader 4
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Thread: How to draw & use fibonacci retracement chart in meta trader 4

  1. #1
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    Cool How to draw & use fibonacci retracement chart in meta trader 4

    fibonchi.jpg

    In this thread I am good to show you another useful trading strategy which I have been using for long time in my trading. Today you will learn how to use and draw fibonacci retracement chart. This is very good way to earn big money from the forex market.

    Why and when to use it?

    Mostly this chart is used when there is heavy fluctuation in the market. If the market goes bullish to bearish or bearish to bullish trend we can simply use it to earn money. Suppose in the above image you can see how this chart is set in 30 minutes time frame.
    If forex market go in bearish level then this chart will show you its retracement percentage. We should keep mind that retracement can some time go 100% but normally it goes to 50%. But one thing which is very important that we should always open trade from 00% to 23.6 as it is always confirmed that market will touch this point in retracement and we can make huge money.

    I hope this strategy will surely work when you trade in the forex next time. Do not forget to add more and more to this topic I am sharing with you.

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    yeah its good to see how draw the Fibonacci levels in our chart. I like Fibonacci levels trading most but do not have much knowledge about this strategy. Many professionals are use its levels in their long term trading and find market bounce and resistance areas. If we draw the m correctly then its very easy for us to find a good profitable trade.

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    it is good informations for the trader that wants to know how to draw fibonacci retracement and so the traders that want to use it can read these informations as it will help them much, it is a good tool and so the trader that has experience with it can trade well with it because he knows how to determine the positions of trading with it.

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    Quote Originally Posted by sameeh View Post
    it is good informations for the trader that wants to know how to draw fibonacci retracement and so the traders that want to use it can read these informations as it will help them much, it is a good tool and so the trader that has experience with it can trade well with it because he knows how to determine the positions of trading with it.
    Many traders got a lot of informations when they want to trade too but it is not like it will be simple nor easy as well. We need to know how possibly we can get all informations in the market as we trade and how they will help us too as we trade. Not all traders know how to determine a position from information too since they do not understand them.

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  5. #5
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    fibonacci retracement is good for successful trading and the trader can make good profits from the market if he can be able to use it properly, the trader needs to have good trading skills and experience with fibonacci to be able to know how to get good results with it and enjoy trading and making of money easily and continuously with little loses.

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    Quote Originally Posted by sameeh View Post
    fibonacci retracement is good for successful trading and the trader can make good profits from the market if he can be able to use it properly, the trader needs to have good trading skills and experience with fibonacci to be able to know how to get good results with it and enjoy trading and making of money easily and continuously with little loses.
    It is really a good one when the trader knows how to use it. I have being working on the Fibonacci for more than 10 years now, but i do not use it actively any longer, but i could telly you that it is a very good trading system, it is a way that will keep on making money for traders based on the trend, and will tell traders the retracement as well.

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    fibonaacci retracement is a good tool for trading and widely used by the traders and so the trader can trade with it and make money, the trader can determine the position of trading and the target with fibonacci and so he will be able to make trading is better and more effective and will be able to make consistent profits from the market easily.

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    Sir, you did not keep to your word here , the title of your post is how to draw Fibonacci retracement in the mt4 , but you did not do that in your explanation, you only made mention about some the figure in the Fibonacci and you did not explain much on them, i was expecting you to teach us how we can draw the Fibonacci when we are in the uptrend and ho we can draw it when we are in the downtrend and how to use the retracement and the extension aspect of the Fibonacci and many of this you did not do, then tell me how do you use the Fibonacci if you can not explain to us here how it should be used. Where do we pick it from if we want to buy and where do we pick it from if we want to sell? You will need to come back and explain because you raised the topic.

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    Fibonacci retracement is really important part of this business. I know how to draw the Fibonacci levels on this market chart of forex but I do not know that where we start to draw these levels because we need to use 0 and 100 Fibonacci levels to draw on our price chart but I do not know where we place the zero and where we place the 100 retracement on market chart.

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  10. #10
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    Sir, you did not keep to your word here , the title of your post is how to draw Fibonacci retracement in the mt4 , but you did not do that in your explanation, you only made mention about some the figure in the Fibonacci and you did not explain much on them, i was expecting you to teach us how we can draw the Fibonacci when we are in the uptrend and ho we can draw it when we are in the downtrend and how to use the retracement and the extension aspect of the Fibonacci and many of this you did not do, then tell me how do you use the Fibonacci if you can not explain to us here how it should be used. Where do we pick it from if we want to buy and where do we pick it from if we want to sell? You will need to come back and explain because you raised the topic.

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