Hello all, my virgin posting here. Will be sharing more of my fibonacci swing/position trade ideas in time to come. Do give me your pointers if any on how to improve. =)
USDJPY having crossed the fibo level of 1.618, trendturn to short might be on the cards. If this decline reaches close to 108 before retracing, prepare to short at 61.8% of retracement level. Will update again on this trade soon.
How Knows Bro 4 Hr Time Frame a Shot in the Dark 15 vis where i work with Targets 30 min max News is what moves the market anything can happen in a day 4 hr TF targets usually run for days unless u have deep pockets like a hedge fund ya dreaming imho
Cheers
FiboTradeMasters
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Hey bro, firstly thanks for your comments. Loved comments especially the ones like yours which drives me to reflect and review my trading strategy and philosophy.
I have been trading and investing, trying everything from fundamental to technical, ranging from ultra short 1-5mins to long (weekly/monthly) time frames.
Honestly there is no right or wrong way to invest as long as the strategy makes money in the long run and suits the individual person's trading personality.
Back to your comment, agreed that anything can happen within a day due to new driven. That's precisely the point why I shifted from short time frame like 5 / 10 / 30 min to a longer one so that the stops are not so easily taken out. With a longer time frame coupled with the insightful Fibonacci, I was able to improve my winning rate on trading to at least above 50%. Coupled with a risk reward ratio of at least 1 : 2.62, this ensures in the long run, I am net profitable. Utilizing proper risk management and position sizing, I don't have to have deep pockets like a hedge fund to trade on my current strategy. =)
And most imptly, i can trade in a setting that I don't have to maintain high adrenaline while watching the markets every second but still enjoy the thrill of the markets zigzaging all the time. Pleased to hear from you again.
Cheers