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Fib. Retracement levels

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Stefanilarda
21
Stefanilarda  

Hi,

I'm finding it extremely difficult in knowing which level will hold in Fib. Retracements !

I've seen on the charts that prices reverse midway between 50% & 61.8% sometimes. Price can under shoot or over shoot a Fib. level.

Can somebody pls. give me a few tips/helpful advice on this subject matter ?

Do we look for Trend Reversal patterns @ Fib. Levels or can we incorporate few simple indicators to help determine probable price turning points etc,etc..

Thanks, Stef

magiceye7
3
magiceye7  

HI I am new at all this I am looking for a scrip that will put pivot point on medatrader 4

Rich

Nadeem
1852
Nadeem  

You need to study a bit more on fibs... i suggest the Harmonics Trader by Carney Scott and the AB=CD by Sundeep Bilkhu

naatha
8
naatha  

Originally Posted by arezab

This is not a single indicator. You already have Fibonacci tool on MT4 platform but you should manipulate the values in levels tab and add your desired descriptions in front of them (as I did), nothing special and easy. You need to enter the following values and their respective descriptions for your fibo tool to exactly show up like mine. .

level description

0 BUY@ %$

0.382 38.2

0.5 %$ - 50.0

0.618 61.8

1 Sell@ %$

0.764 76.4

1.382 Target1 138 = %$

-0.382 Target1 138 = %$

-0.618 Target2 162 = %$

1.618 Target2 162 = %$

2 Target3 200 = %$

-1 Target3 200 = %$

2.382 Target4 238 = %$

-1.382 Target4 238 = %$

-1.618 Target5 262 = %$

2.618 Target5 262 = %$

The demark indicator is attached. I use it on 30M chart and set the LevDP to 12

/go?link=https://www.forexfactory.com/attachment.php?attachmentid=89732&d=1203959519

Nadeem
1852
Nadeem  

Thanks for the share Naatha,

Something new to me regarding the fib tool. I just used to put the levels like this and never thought of labelling them and use the %$....

It looks nice and more understandable...

Seems you are someone who will bring lots of good to this board.

All the best

Nadeem
1852
Nadeem  

Thanks man
'
Good stuff, keep posting...

New stuff should go in new threads....

pobos
3
pobos  

I like to say it's wondefull site

moondoggie
4
moondoggie  
bossxero:
Thanks for the share Naatha,Something new to me regarding the fib tool. I just used to put the levels like this and never thought of labelling them and use the %$....It looks nice and more understandable...Seems you are someone who will bring lots of good to this board.In the fibo properties box if you put for example %$followed by 2 spaces and then your fibo value e.g.38.2 then the price for that fibo level will appear on your fibo line.All the best
mwong3
4
mwong3  

HI I got an problem, which is the Zip file I download not anble to unzip it!!! can advised What to do ?

12
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