All About Fibonacci Trading (Eagle's Fibonacci System)
As promised earlier last week about a system tht I will show n give, so here it is; presenting Fibonacci Trading which is used by many in trading daily not only for forex but many other tradings.
I will not go into the history of Fibonacci as tht can be obtained by searching in Google and I will not mention the method of how to get Fibonacci ratios or numbers as tht too can be obtained via searching online.
I will go right to the point.Why do I call this a system is simple, because it is used directly to trade daily with or without any indicators, but if it is coupled with indicators then it is an added bonus and much more precise. How to couple it with indicators, will be covered at a later time.
Many know what is Fibonacci trading, and also all about price retracements,price extensions and price projections or price objectives but the problem most new traders in Fibonacci face are when do we use price retracements,price extensions and price projections or price objectives? And at which time frame do we use it?
Some may know via theoritically we should use the swing high and swing low to draw the Fibonacci lines as in MT4. But a question may arise, tht is which swing high and low to be used as there may be many swing highs and lows in different ranges. And if we are able to get the correct swing high and low, then, when is the transition between a retracement and an extension range? And not forgetting price objectives?
Ok, some who are new in Fibonacci trading I suggest to Google up those words I mentioned above, if you do not understand them before you continue on. I will be showing a system that I personally created myself after about 2 years studying Fibonacci's ups and downs via trial and errors that I have taken into account too. It is called Eagle's Fibonacci System. It is a rather very simple system, but to get it effective it took rigorous testing and trials. And this is the first time I am revealing it publicly to my very first crowd here in FXEgypt representing FXMalay. sm_cool
In the Excel file as attached below, you will find a calculator that is colour shaded with many ratios ranging from 1.618 to -1.618 and also a column beside it on the left stated "high" and "low". Most effective daily trading or day trading, time frame to be used is daily with data range from 8am (Malaysia time) till next day 8am(Malaysia time). If you ask why do I use 8am Malaysia time rather than 5am, well my testing showed it goes well from 8am.. But if you do want to use 5am, it is no problem, you can test it out.
All you need to do is enter the day's high and low from the data range of 8am till 8 am the next day. Then, the ratios will be calculated for you directly on the file. Each ratio is a Fibonacci support/resistance level; example: if price of a certain pair is at between 0.382 and 0.5 and the trend is going up, this means 0.382 is a support and 0.50 is the immidiate resistance level. This is the same for other ranges of ratios too.
The reason I call it a system is because, example you enter a long at Fibonacci support at 0.382, so suggested tp is at 0.5 or if expected it can go higher, then any other ratio after 0.382 with a sl of 0.236 or lower.If day trading I would suggest to use the ratio immidately below the entry ratio. But if you a swing trader maybe you can set a better sl and tp.
What actually is been done by this is system is eliminate the uncertainty to get a swing high and low, eliminate the uncertainty of range of data to be used for the swing high and low, and to eliminate the uncertainty on when to use extension, retracement and projections. This means the file as attached covers everything you need to trade via Fibonacci, without difficulty of uncertainty of data.
Of course accuracy of prices generated sometimes are not exact, give it a +- of 5 to 10 pips. But at times tp might not get hit, due to other reason such as thru FA. But thru experience using it, it is very accurate.
Any questions regarding this system, I will try my best to answer ok.
Last edited by FXM Teacher; 07-08-2007 at 08:39 PM.
Ilustration of which part? Im sure many knows the meaning of positive fibo levels, and in this system negative fibo levels has its same meanings as its positive ones, in the sense tht important are also -0.382,-0.618 etc..the reason why it is negative is for the calculations tht is to be done as this fibo system is not as the usual one tht one may have known, as this is combination of all of the different fibo price movements i.e retracement,extension. Hope it helps you to get a better picture, any clarifications can be asked..
Saya memang tgh belajar tentang Fibonacci ni. Di Metatrader , sekiranya dlm trend up untuk draw Fibo line yg sebetulnya macam mana yer.
Cth:- swing B
>>>>>>>>>>>>>>>>>>>>>>>>Retracement C
swing A
Untuk dpt retracement C saya perlu tarik dari A ke B atau B ke A. Dari apa yg saya baca ada yg A ke B dan ada B ke A. Atau pun kedua-dua cara ni betul.
ni bacer tak aper yg cikgu tulis kat 1st post tu tak??nampak gaya cam main hentam jer post..hehe..rasanyer thread ni tuk system yg cikgu nyatakan kat atas tu har...bukan pasal fibo2 yg biasa kiter bacer kat memaner..
Originally Posted by atcom
FXM Teacher,
Saya memang tgh belajar tentang Fibonacci ni. Di Metatrader , sekiranya dlm trend up untuk draw Fibo line yg sebetulnya macam mana yer.
Cth:- swing B
>>>>>>>>>>>>>>>>>>>>>>>>Retracement C
swing A
Untuk dpt retracement C saya perlu tarik dari A ke B atau B ke A. Dari apa yg saya baca ada yg A ke B dan ada B ke A. Atau pun kedua-dua cara ni betul.
firstly, saya tidak berapa faham soalan anda dan contoh anda juga saya tidak faham maksud anda..
kedua, seperti kata bear1305 thread ni tuk system yg saya berikan di atas, dan saya akan mulakan tidak lama lagi tuk conventional fibonacci price movements, so anda boleh bertanya dgn lebih jelas biler thread tu dibuka ya..
Originally Posted by atcom
FXM Teacher,
Saya memang tgh belajar tentang Fibonacci ni. Di Metatrader , sekiranya dlm trend up untuk draw Fibo line yg sebetulnya macam mana yer.
Cth:- swing B
>>>>>>>>>>>>>>>>>>>>>>>>Retracement C
swing A
Untuk dpt retracement C saya perlu tarik dari A ke B atau B ke A. Dari apa yg saya baca ada yg A ke B dan ada B ke A. Atau pun kedua-dua cara ni betul.
firstly, saya tidak berapa faham soalan anda dan contoh anda juga saya tidak faham maksud anda..
kedua, seperti kata bear1305 thread ni tuk system yg saya berikan di atas, dan saya akan mulakan tidak lama lagi tuk conventional fibonacci price movements, so anda boleh bertanya dgn lebih jelas biler thread tu dibuka ya..
Maaf yer Cikgu, saya ni excited sgt dgn teknik fibonacci.:o . Saya ingat bolehla mencelah skit kut anyway tak sabar jugak nak blajar teknik ni. File dah download dah.
Anyone can generate their own points, just download the file and use it. But take note its not just an entry signal, you need to do some analysis first on the trend if possible, then you can get a clearer picture.
mcm mana nak huraikan fibo bila price sentuh garis 23.6%. 38.2% 50% 61.8%
tkadang berlaku reversel ataupun rebounce.. em pening jugak forex ni. korang leh tak citer sikit bila price sentuh garis fibo nei. kebiasaannye ape yg berlaku than bila trend akan berubah guna fibo retrace n arch?
OK, biasanya kalo trend tengah turun sebagai contoh, point point seperti dlm sistem yg saya beri tersebut merupakan point yg kemungkinan besar akan berlaku bounce ke arah yg bertentangan dgn arah pada mulanya.
Sila rujuk post pertama untuk detail sistem yang saya nyatakan, sebab sistem ini, anda tidak perlu gunakan arch atau retracement.Just 1 sistem, iaitu seperti attachment yg diberikan.
thank fxm teacher. saya nak cuba untk baca fibonacci. sy main forex nie dah setahun. org yg pkenal kat sy forex ni dah bankrup n tak main lagi. dia kata asyik2 rugi. kalu ada fail yg perlu sy bace n penting utk success dlm forex. share kat sy, byk bende sy tak tahu bab fx ni, indikator pun sy guna bgx n macd. lain2 harapkan sinal dari gainscope. susah jugak/ so harap2 u jadi guru saye la.
tak leh jadi personal guru..mahal tu nak hire saya.. tp stay tuned kat bilik ni..from time to time saya akan ajar bnyk benda lain seperti indikator dan semua ilmu yg saya ada. untuk sistem di ats, cara gunakan dah ader di post pertama, maner2 tak faham beoleh tanya yeah..
sy dah cuba nak paham. tapi eagle fibo nie tak tahu macam mane nak mula, coz sblum nie sy baca hanya fibonacci retrace itupun tak reti2 lagi.bila tgk ini pengiraan exel ni. tetiba jer otak jadi poning.. emmm. ketetapatn dia camner ekk? kalu sy kata forex adalah perangkap? u stju tak n kejayaan forex bergantung bila semakin ramai orang gagal.? jadi sy selalu trade dgn melawan nafsu. contoh bgx bagi signal graf turun, macd pun graf turun. tapi sy up untk 15 pips. selalu mengena tapi takut2 gak coz bergantung pada nasib. sebenarnye kalu boleh sy nak ilmu bukan nasib
mcm mana nak bace exel tu. terlalu complex. dari mana dapat no 1.62 n -1.62/ . gu hari nie dah swing , insyaAllah kalu stoplose kecil merbahaya. so apa kaitan 1.62 tu nak aplikasikan dalam garf? mcm mana formula eagle fibo boleh kesan naik turun graf.... emmm
banyak nak tanya nie coz topik fibo buat hati sy jadi terujah nie.
sy dah cuba nak paham. tapi eagle fibo nie tak tahu macam mane nak mula, coz sblum nie sy baca hanya fibonacci retrace itupun tak reti2 lagi.bila tgk ini pengiraan exel ni. tetiba jer otak jadi poning.. emmm. ketetapatn dia camner ekk? kalu sy kata forex adalah perangkap? u stju tak n kejayaan forex bergantung bila semakin ramai orang gagal.? jadi sy selalu trade dgn melawan nafsu. contoh bgx bagi signal graf turun, macd pun graf turun. tapi sy up untk 15 pips. selalu mengena tapi takut2 gak coz bergantung pada nasib. sebenarnye kalu boleh sy nak ilmu bukan nasib
mcm mana nak bace exel tu. terlalu complex. dari mana dapat no 1.62 n -1.62/ . gu hari nie dah swing , insyaAllah kalu stoplose kecil merbahaya. so apa kaitan 1.62 tu nak aplikasikan dalam garf? mcm mana formula eagle fibo boleh kesan naik turun graf.... emmm
banyak nak tanya nie coz topik fibo buat hati sy jadi terujah nie.
sila baca post pertama,semua steps untuk gunakan sistem ini telahpun diberi dengan jelas. ketepatannya juga dijelaskan di post pertama.
sistem ini memberi support dan resistance yg major bagi pergerakkan sesuatu pair dalam tempoh tertentu.jika anda pernah membaca tentang fibonacci, anda akan tahu apa ratio-ratio tersebut dan bagaimana saya mendapatnya.
saya akan membantu jika ada soalan. maklumat penting telahpun disertakan di post pertama.
trading forex tidak boleh bergantung pada nasib, kerana jika nasib, ia akan menjurus kepada perjudian, jadi trade dengan ilmu yg anda perolehi.
Sistem Fibonacci tidak boleh mengesan naik turun graf tetapi ia boleh memberi gambaran di price mana harga sesuatu pair akan bounce so anda boleh bersedia sebelum ia berlaku.
I will be showing a system that I personally created myself after about 2 years studying Fibonacci's ups and downs via trial and errors that I have taken into account too. It is called Eagle's Fibonacci System. It is a rather very simple system, but to get it effective it took rigorous testing and trials. And this is the first time I am revealing it publicly to my very first crowd here in FXEgypt representing FXMalay. sm_cool
But if you do want to use 5am, it is no problem, you can test it out.
Originally Posted by atcom
But take note its not just an entry signal, you need to do some analysis first on the trend if possible, then you can get a clearer picture. 
