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Fibonacci Retracement

The document discusses using Fibonacci retracement levels to identify trading opportunities in currency pairs. It outlines several examples of pairs retracing to the 61.8% and 78.6% Fibonacci levels on daily, 4-hour, and hourly charts, suggesting these levels provide good entry points for trades in the direction of the main trend. The document emphasizes looking for retracements to 61.8% and 78.6% Fibonacci levels on multiple time frames for confirming trade setups.

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Hamid
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Download as PDF, TXT or read online on Scribd
356 views

Fibonacci Retracement

The document discusses using Fibonacci retracement levels to identify trading opportunities in currency pairs. It outlines several examples of pairs retracing to the 61.8% and 78.6% Fibonacci levels on daily, 4-hour, and hourly charts, suggesting these levels provide good entry points for trades in the direction of the main trend. The document emphasizes looking for retracements to 61.8% and 78.6% Fibonacci levels on multiple time frames for confirming trade setups.

Uploaded by

Hamid
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Here its my Fibonacci Retracements levels:

How to use Fibonacci ?


But not in this pattern

MY TRADE ZONES:

Don’t trade this !!! Most important


How to set TP?

What are the best levels of Fibonacci to use for Trades?

Let’s go in long trades:


Let me show you some charts to explain where to use Fibonacci

If pair make these patterns

If price action does not retrace to 78.6 we will enter trade like this:

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2). How to use Fibonacci twice for trade:

3).
4) How to set profit target:

Lets analyse a pair from 1D , 4H and 1H with FibonacciLet’s start from 1DPair (NZDCHF)
1) First time we use Fibonacci Retracement:

2).
3). Let´s go on 4h (it’s a sniper entry on 78.6)

4) Here again retraced to 61.8 level:

5) Here we see retracement multiple times to 78.6 and in the end started in trend direction:
6). Here again retraced to 78.6:

7) Again on 78.6 and sniper entry:

Always use 61.8 and 78.6 for sell and buy

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