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Thread: Fibonacci Trading System on Weekly chart

  1. #1
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    Fibonacci Trading System on Weekly chart

    Fibonacci trading system is a very powerful trading system in the history of financial market. I have developed my trading based on this on the weekly chart. It is good for the traders that wants to place a single trade and get multiples of pips in days or weeks. It is very good for position traders that are very conservative. This trading system is good for all trading pairs depending on your choice.

    Now, there are four lines that traders look on this trading system, they are; 23.6, 38.2, 50.0 and 61.8. All the lines are very powerful to give the trader support and resistance, but 38.2, 50.0 and 61.8 are the most effective ones that hardly fails.

    Attachment 3077

    Looking at the above, when USDJPY meet the point at 23.6, It was unable to break it to the downside, and have being moving to the upside this week. This is still valid for my USDJPY trading analysis that the bias is to the upside. And the target will be 103.73(This year high).

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  2. #51
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    wow i think FIBONACCI is so very nice system. it always show us where the price will go and will stop at where.

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  3. #52
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    Quote Originally Posted by cozard007 View Post
    Fibonacci trading system is a very powerful trading system in the history of financial market. I have developed my trading based on this on the weekly chart. It is good for the traders that wants to place a single trade and get multiples of pips in days or weeks. It is very good for position traders that are very conservative. This trading system is good for all trading pairs depending on your choice.

    Now, there are four lines that traders look on this trading system, they are; 23.6, 38.2, 50.0 and 61.8. All the lines are very powerful to give the trader support and resistance, but 38.2, 50.0 and 61.8 are the most effective ones that hardly fails.

    Attachment 3077

    Looking at the above, when USDJPY meet the point at 23.6, It was unable to break it to the downside, and have being moving to the upside this week. This is still valid for my USDJPY trading analysis that the bias is to the upside. And the target will be 103.73(This year high).
    I have some small knowledge on fibonacci, I am trying to use fibonacci retrenchment to understand about support and resistant level only. Through this thread came to know about better use of fibonacci and it seems to very interesting and authentic. I will practice it in my trade further as I want to become a good trader.

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  4. #53
    Trader startlife's Avatar
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    Thank you verry much to share this system I like using fibonacci it is so powerful in analys but in tjis strategy we need big founds because we work with the weekely time fram, we can use fibonacci to determinat target too and we can add alarme price too i will shar it later in forum

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  5. #54
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    Sono molto d'accordo con questa posizione di lavorare sui livelli Fibonaci. Basta impostare bene i livelli Fibonaci. Pratticamente, grandi traders utilizzano i livelli Fibonaci per fare i loro giretti. Allora, anche noi dovremmo fare la loro strada. Da molto tempo sto' osservando il mercato. Ho notato quasi sempre, se i livelli Fibonaci impostati bene, vai pratticamente sicurissimo che il revers sara' proprio sul livello.

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  6. #55
    Trader rinaji's Avatar
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    Well, I am very interested in learning more about Fibonacci, your trading journal will be useful for me to see the extent of the accuracy of the Fibonacci retracement. At first I was not too keen to learn Fibonacci, but I'm really curious, and want to follow your thread. Hopefully I can get new knowledge from your journal.

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    If you lose, be patient. If you win, stay humble

  7. #56
    Registered user Quid's Avatar
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    Quote Originally Posted by startlife View Post
    Thank you verry much to share this system I like using fibonacci it is so powerful in analys but in tjis strategy we need big founds because we work with the weekely time fram, we can use fibonacci to determinat target too and we can add alarme price too i will shar it later in forum
    I also think this fibonacci system will create good signal for the trader,this will really make the analysis gets right at the way it is supposed to be,i found some good work can be done with fibonacci system,we can create the point to enter the market or to close the position.

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    Finally successful traders

  8. #57
    Trader amjad23510's Avatar
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    fibonacci is very good tool but we can use it only for long term prediction.i have used this tool to predict the trend and it is working .i am using fibo in gold analysis at H1 and D1 chart.it gives more accurate results in D1 chart.so,i am using it for long term and weekly based trading.

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  9. #58
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    Quote Originally Posted by amjad23510 View Post
    fibonacci is very good tool but we can use it only for long term prediction.i have used this tool to predict the trend and it is working .i am using fibo in gold analysis at H1 and D1 chart.it gives more accurate results in D1 chart.so,i am using it for long term and weekly based trading.
    Sono molto d'accordo. Sapere di usare di livelli Fibonaci e' un vantagio di un trader. Tanti strumenti finanziari sul lungo tarmine si muovono sui livelli Fibonaci. Tali livelli deventano dei supporti o delle resistenze. Bene. Cosi possiamo fare l'entrata giusta sul supporto o sulla resistenza. Sui grafici di lungo periodo e' pui facile di usarli. Sulli altri e' piu' difficile ma lavora lo stesso. Allora, una volta identificato il supporto o la resistenza su uno livello Fibonaci siamo a cavallo : possiamo fare l'entrata giusta. Derei e' uno grande vantagio.

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  10. #59
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    Whaoo, this is a great and generally clarified arrangement of exchanging, i don't think about this, and i have attempted it dependent upon how you have said it on distinctive sets of exchanging, they appears to be exceptionally dynamic for the business, it is working like marvels on the lines, it might be giving the dealer indicate once in a manner and the benefits will be substantially more for every one exchange.

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  11. #60
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    thanks dear your sharing is best for all of our members well explained system of trading, i do not know about this, and i have tried it based on how you have said it on different pairs of trading, they seems very active for the market, it is working like wonders on the lines i use these chart and make a good experience.

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