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intlmarkets · 01-06-2005, 14:06

I applied the technique to EURUSD and it gave the following trade:

Sell 1.2267 Stop 1.2306 Target 1.2150

The method is very simple, it works as follows, as soon as you get an impulsive move, use the fibonacci stick to draw retracements and extensions. start from the end and go back to the beginning point. then the entry will be the .50 stop will be above the .236 by 10 pips and target will be 1.618 and 2.618.

01-06-2005, 14:06	#8 (permalink)
intlmarkets level 3 Join Date: Nov 2004 Posts: 125 Rep Power: 0	Re: Short Term Fibonacci Trades on GBPUSD I applied the technique to EURUSD and it gave the following trade: Sell 1.2267 Stop 1.2306 Target 1.2150 The method is very simple, it works as follows, as soon as you get an impulsive move, use the fibonacci stick to draw retracements and extensions. start from the end and go back to the beginning point. then the entry will be the .50 stop will be above the .236 by 10 pips and target will be 1.618 and 2.618.