Set and Forget Strategies using Fibonacci

# Thread: Set and Forget Strategies using Fibonacci

1. ## Set and Forget Strategies using Fibonacci

First of all I would like to thank brother fx69 who already want to teach science.
for me this system is perfect, because I was busy at work. no strings attached I simply discuss his system.

Timeframe : Daily
Tool : Fibonacci
Pair : All Pair
Risk n Reward : 1:2

rules :
1. if the previous candle are bullish, we pull Fibo from bottom to top. After that we will put Pending Order buy limit on the Fibo 76.4 until 100.
2. if the previous candle are down, we pull Fibo from top to bottom. After that we will put Pending Order buy limit on the Fibo 76.4.8 until 100

MM :
1. Limit Order in Fibo 76.4 use risk 1% from equity
2. Limit Order in Fibo 100 use risk 2% from equity

Stoploss and Take Profit :
set stop loss 50 pips from Fibo 100 and Take Profit in fibo 0

example :
NZDUSD230113.jpg

Happy Profit

2. Great! Is there anybody else who has used Fibonacci and sized it up?

3. today my OP on NZDUSD is take profit..got 96 pips..

4. plan for EURUSD
EU280113.jpg

buy @ swap area (resist become support), SL 40 pips, TP 80 pips.

5. Wow, nyonik, this seems to be like a very good trading strategy . I will go through over it and would also backtest and would tell you with some screenshots how will it be going. Thanks a lot by the way, for sharing this nice strategy.

6. i like fibonacci. it works really well. we can easily gain some good profit from this Forex by using it. we must also need to learn about it and then we will get some good pips from this strategy. this is good set up for trading. i will follow it, then i will give my result

7. fibonacci is a miracle for me, i am using it from past few days and i am very much inspired, it give turn to my trading, now i am more confident to place an order, before i was not much aware about support and resistance levels, but thanks to fibonacci , because it enable me to understand market more better and to understand retracement of trend. your strategy looks great , i will test it tomorrow and will share results here. regards.

8. Thanks for sharing this strategy, i have been using fibonacci for the past 2years and is making me consistency profit. I like this fibonacci because is serve as area of support and resistance which is more focus area in forex trading, thou my way of using fibonacci is little different from this but fibonacci is very very good indicator.

9. thanks for this nice share. as i know fibonacci is a most popular indicator for entry and exit. i am very much interested to learn this strategy properly. please keep updating everyday so we can learn this strategy properly.

10. i will continue to share my strategy. i will use also timeframe 4 hour for more open positions.. hopefully it can be useful for you all