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Using Fibonacci to Measure Spikes (Forex News Trading)

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Uploaded by on Oct 3, 2007

Using Fibs when next pivot level is too far away. Sign up to receive market insights, trading tips, and invitations to FREE webinars: http://bit.ly/t83NVg

  • likes, 3 dislikes

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Uploader Comments (fxKnight)

  • This was very helpful in seeing how to approach breakouts. I guess, if the second candle had gone south you would have reversed your Fib on the same breakout candle to get an extention target on the bottom side.. Is that right?

  • correct :)

  • Could you please specify what time frame are you using? I guess 1 minute

  • During news I am typically on the 5min; for most of my intraday trading I am typically on the 1hour/4hour combination.

  • I have a little more experience, and therefore a little more confidence. You have to learn the rules first, and establish some consistency in your trading - even if that means letting a few get away once in a while. Just like in music, once you know the notes and the scales well, you can start improvising a bit. Similarly, trading starts out mechanical, and eventually becomes intuitive. But it takes time, and practice.

Top Comments

  • Fxknight, i like your videos, i really do, its just that you seem to be inconsistent in your trading strategy like in another video you said quote 'in FX more often than not you get a second chance to enter the position so dont rush in' - in this case, you jumped right on the breakout long candle. I know it is easy to check what you should do by looking at the candle thats gonna go after current one but the problem is that we just dont have that comfort to look at the future in reality :)

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All Comments (24)

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  • Thanks for this? video!

  • Im impressed and I love it! Subscribing now! 

  • gonna rewatch this because it is brilliant

  • sexy as fuck.

  • people who disliked this video? are douchebags. Great job

  • Thumps up!

  • keep it up XD

  • Please do more video ... I love your videos 

  • kudos, dude. amazing vid.

  • Why wouldn't you put a buy stop and sell stop (not knowing which direction price will shoot) outside of your trend lines to catch the whole move?

    I like that you explained how you wait for a retracement to the trend line sometimes, but saw it slowing down this time and got in long. Before that comment it was looking like you make up the rules to fit the chat history.

    great work.

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