1. Fibonacci Retracements Archives

Filtering For High Probability Trades

 

This is a trader question from the Fibonacci Trading Forum.

Vernon says:
What part of your trading do I need to improve?

Finding and choosing the higher probability trade and sitting out on others.

Neal’s reply;

This is a constant challenge, and sometimes even the best looking setups will fail. We have to accept the disappointments, and continue to strive for better performance.

Here is the best way to find optimum trades; Look for trades with solid trend, or significant thrust in your favor. A weak trend, or a trend that is showing fatigue, will cause more frustration and worse results.

With trend in your favor, find strong Fibonacci support/resistance (SK Level) for retracement, and then wait for the move to confirm that Fibonacci Level. Trigger your trade with that confirmation, and look for follow-through momentum in the direction of the trend or thrust. This is the basis of the “TRSI Bounce” trade setup.

Those two basic techniques (trend and Fibonacci Retracement) will help you locate/filter those better trade setups.

-Neal Hughes “FibMaster”.

Learning Fibonacci Retracements

 

Here is an email question from a member of the Fibonacci Trading Forum at Daily Forex Charts .com

I need to learn more about Fibonacci levels, how to apply and use them. Where to enter, where to exit.
 

Neal’s response;

OK, learning the basics of Fibonacci Retracements, Fibonacci Expansions, etc are really easy, FibMaster’s Fibonacci Trading Videos will solve that problem for you.

After that, it comes down to skill and experience. You definitely need to use TRSI with Fibonacci, that will make a big difference. Join our FibMaster Fibonacci Forum webinars, that will help a lot!

-Neal Hughes “FibMaster”