What Fibonacci level do you utilize to enter a trade?

Discussion in 'Systems and Methods' started by Piper, Sep 11, 2013.

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What Fibonacci level do you utilize to enter a trade?

  1. 62

    3 vote(s)
    18.8%
  2. 70

    6 vote(s)
    37.5%
  3. 79

    5 vote(s)
    31.3%
  4. 101

    0 vote(s)
    0.0%
  5. What's a fib?

    2 vote(s)
    12.5%
  1. Piper

    Piper Guest

    Lately i'm working on the hard decision to carve in stone exactly which level to utilize.
    Your feedback will be appreciated,specially with explanation.
     
  2. Tansen

    Tansen Well-Known Member

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    You forgot the 101% aka the Turtle soup :D lol
     
  3. Piper

    Piper Guest

    I knew i forgot something!!
    Crap!!!Cant edit the poll!!!!
    :p
     
  4. slugFX

    slugFX Well-Known Member

    Joined:
    Jul 14, 2013
    Messages:
    204
    Whichever one has the most confluence with other levels so I don't use the same one every trade.
     
  5. jack

    jack Administrator Staff Member

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    Mar 29, 2013
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    Edited :p
     
  6. Piper

    Piper Guest

    Loooooooool
     
  7. rod178

    rod178 Well-Known Member

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    Jul 16, 2013
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    3,146
    142 ie (1/70.5)
     
  8. smacznykonsek

    smacznykonsek New Member

    Joined:
    Oct 15, 2013
    Messages:
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    My first post here so hello to everyone!

    Trading GU and EU on intraday I use 50% and 79% most of the time and sometimes 62% obviously there has to be confluence with price action. And if price retraces deeper then I watch 127% and 162% - but it's less often and there also needs to be confluence with PA, also ADR preferably filled for the day.
    The best way, in my opinion, to isolate fibs that work for you is to either go back on the chart of your pair and see what level worked most or better yet, on a demo just keep pulling fibs on swings and place demo trades on each leavel where you see confluence with price and keep registering the reaction you get. Note the good and bad experiences and after a large number of such trades you will get a feel for what works best for you.
    Hope that helps ;)
     
  9. jack

    jack Administrator Staff Member

    Joined:
    Mar 29, 2013
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    Hello and welcome to the forum smacznykonsek :)


    I agree with this: Every pair has its own way of moving about (simply caused by different traders involved for different reasons from pair to pair), so go back over the recent past and see what's been working. The market will change, so be prepared to review and reassess at times, but at least you have a place to start when forming your next trade idea.
     
  10. foreigner

    foreigner Est. 12480 Hours and Counting

    Joined:
    Aug 22, 2013
    Messages:
    609
    And the prize for the most pointless thread imaginable goes to.... :eek: lol

    My bad, to answer the question, you use the fib that has the best confluence within the target area with a slight preference toward the sweetspot. Why? Not all trades make it to the 79% like yesterdays GBPUSD SHORT.. ;D
     
  11. brians1128

    brians1128 Well-Known Member

    Joined:
    Jul 13, 2013
    Messages:
    82
    Slightly off topic but I was watching the newest ICT video and about 40 mins in he discussed the use of other entry methods besides fibs. I have been focused on using fibs, and his newest fib concept in using hidden levels to enter during consolidations. Any one care to discuss his other methods I am not to familiar with them and plan on doing some research.

    They are;

    - Reflection
    -ICT Grail
    - Type II trend following
    - ICT Stinger
     
  12. Sage1

    Sage1 Active Member

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    Nov 11, 2013
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    Those aren't entry methods... (apart from Reflection) they are divergences.

    Reflection is basically a mirror image of OTE.

    Usually (for a buy). You take the low on the left and a high on the right and your entry is between 62% and 79%.

    Reflection is the following (you keep the same high) you take the low on the left as 79% by dragging the Fib lower and you enter at 100% instead. So basically it's a mirror image that way. It's tough to explain without charts. Let me know if you need clarification.

    Once again, in reflection, the low is at 79% or OTE and the entry is lower, at 100% of the fib.
     
  13. PStocksLab

    PStocksLab New Member

    Joined:
    Feb 19, 2014
    Messages:
    2
    At the risk of being overly self-promotional, I thought I'd chime in and let you know about the comprehensive guide to Fibonacci trading techniques we have launched on our site. It delves into the history of Fibonacci ratios, and explores the various ways they are utilized in Trading (in particular, Forex trading). It finally discusses the empirical efficacy of using them in trading.

    You can find the guide at -- http:// pennystocks .la/fibonacci-trading-techniques
    [admin edit: remove spaces from link when following]

    Hope you enjoy!
     

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