Strategy for Trading Fibonacci Retracements and Extensions in a Trend

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Check out the Fibonacci section of InformedTrades University: http://www.informedtrades.com/f316/

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I learned this strategy in a free webinar from Market Traders Institute: http://bit.ly/mti-1

Comments

don McNish says:

IRONFX problem Am having terrible trouble with my broker ironfx they will not give me my money back the last transfer took 5 weeks. I havecomplained to CySEC who were totally useless the FCA said they were not responsible because it was acyprus accont my latest withdrawl has been 6 working days and i still do not have my money. Last time the money left my trading account but did not go in my bank for a week what were they doing with my money?

Jesse Jackson says:

#1, that's an awesome tool. I wonder if FXCM has one similar to it. Can you do a demo again, but add the ABCD? I always have problems drawing the correct AB leg

dfwnorthwest says:

using the trend based fib extension, the tool wants you to create 3 points not 2.  Where does the 3rd point go?  Your only showing 2 points being created on the extensions?

momothebored says:

1. After the first leg, why shouldn't you just use trend lines instead?

2. How do you tell which fibo level to use? It's nice that this example worked out, but why fibo 50% and not something else? If there was any consistency in retracements, then aren't you back to pount 1 about trading the trend lines instead?

momothebored says:

Hi just curious.

If the retracement doesn't come down to your buy level, aren't you screwed?

e.g. you're waiting to buy at the 50% retracement, but it doesn't come down at all until much higher than expected.

What would your contingency be?

I face this problem

mmroberts07 says:

Nice explanation, thanks… keep up the good work.

Karthik Karkera says:

You are Awesome… Gud Work…

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