WAVE TRADING WITH FIBONACCI RETRACEMENTS

WAVE  TRADING WITH  FIBONACCI  RETRACEMENTS

USED INDICATORS

MTF ZIG ZAG    ( INPUT (21,13,8))

SAMAFOR INDICATOR  (144 level)

FIBONACCI RETRACMENTS    (FIBONNACCI  WILL  GIVE  AUTO  BUY SELL  SIGNAL BREAK VALUE  OF 23.6)

THERE ARE THREE INDICATORS WILL BE PERFORM  IN SAME  CHART

Buy  rule:

Mtf zig zag indicator(Onr hout zig zag inputs 21-8-5)  identify the wave and the samefor indicator indication 3  number (input 144)  at the wave end.

Fibonacci  will arrive  at the wave  from the  swing high  to swing low

Price close above   value of 23.6  level of wave,  Buy signal should be indicate(price must be traded above 23.6 breakout candle high price then  buy call active)

First target as Feb level 50%  Second  target is 61.8   3 target  as 100 level

4 th target is 161.8  and   5 th target  261.8 level

Stop loss   (0 level + spread) of the wave

Sell  rule:

Mtf zig zag indicator(Onr hout zig zag inputs 21-8-5)  identify the wave and the samefor indicator indication 3  number (input 144)  at the wave low or bottom.

Fibonacci  will arrive  at the wave  from the  swing low   to swing high 

Price close below   value of 23.6  level of wave,  Sell signal should be indicate(price must be traded below 23.6 breakout candle low price then  sell call active)

First target as Feb level 50%  Second  target is 61.8   3 target  as 100 level

4 th target is 161.8  and   5 th target  261.8 level

Stop loss   (0 level - spread) of the wave

  Exit rule

1 If Enter the position as per parameter, position exit as these conditions

 50%  book profits at first target 

25% profit book at 2 nd target and

Other 25% position carry the position till end the wave with stop loss of cost to cost  

 If the profit booked at first target stop loss should be moved to cost to cost + spread for buy  cost to cost - spread for sell calls