Disclaimer: If you think this chart is a mess, you are wrong. Here, we are dealing with lots of fibonacci lines to find confluence at specific zones we want to trade. As we want to maximize our profits, we want to trade at highest possible risk reward ratio. As this is a game of possibilities, our job is to find specific zone with highets probability to make price reaction.
Confluence? Yes, we are looking for that
Fibonaci retreace 170.6%
Fibonacci extension 1.114%
Fibonacci retreace 50%
Yellow trendline
EMA 200 30min timeframe
FVG huge green candle
6 confluences to make a trade. Its never only one thing. 15 min and day is over :)
And if you are asking, is it possible that we miss our trade entry? Yes, many times. But always backtest your strategy and find why did you make a mistake. Your future decisions will be better.
Happy trading :)
Tools:
- Fibonacci retreacement
- Fibonacci extension
- Pitchfork (All types)
- Trend lines
- RSI
- EMA fibonacci numbers
If you take closer look, you can see how price respects the lines. Therefore, if the trade analys is good, we can find a place where the top/bottom of the wick will happen, place an entry buy/sell order and let the magic happen :)
Confluence? Yes, we are looking for that
Fibonaci retreace 170.6%
Fibonacci extension 1.114%
Fibonacci retreace 50%
Yellow trendline
EMA 200 30min timeframe
FVG huge green candle
6 confluences to make a trade. Its never only one thing. 15 min and day is over :)
And if you are asking, is it possible that we miss our trade entry? Yes, many times. But always backtest your strategy and find why did you make a mistake. Your future decisions will be better.
Happy trading :)
Tools:
- Fibonacci retreacement
- Fibonacci extension
- Pitchfork (All types)
- Trend lines
- RSI
- EMA fibonacci numbers
If you take closer look, you can see how price respects the lines. Therefore, if the trade analys is good, we can find a place where the top/bottom of the wick will happen, place an entry buy/sell order and let the magic happen :)