Example of using price action with fibo
Hello Niq..this I love the example of the use of fibo to confirm the candle pattern.
1. Set a high and low swing on that day.
2. Find pattern reversal on 50% area, if you do not meet then mean swing high and lownya not created perfectly.
3. After finding, confirm with the bar afterwards. Bull or Bear.
4. Then do the Selling or Buy action. (incidentally there is a sale action.) 5. Place a stop loss on top of the High Swing.
6. Make a price projection using the fibo expansion. Drag from swing high to swing low.
(same way with fibo retracement.) then put Take Profit in FE 100% for TP1 and
FE 161.8% for TP2 (rarely get sich if sideway on that day).
How open mas can be like this: pair 2 positions same with same SL and 2 different TP. When TP1 is hit and one close, move the SL to another open to BEP + 1pips. So if turning still profit 1pips right. (we dont know exactly when sideway or strongtrend happened right). okay dech so aja explanation from me. If there is any harm please apologize loh. Understand I am also human hehehe ...
pak kenshi indicator fiboPiv_v2 on the pivot line (blue line) is almost identical to the 50% reversal pattern with a pack of kenshi22 so it may be easier to use fiboPiv_v2 determination of 50% of the area please correct if wrong
more or less the same ... I just give the principle aja kok. Ntar application can be determined by yourself what indicators. Before using an indicator must know the purpose and purpose of the indi. If I sich only use the line of fibo ama standard deviation aja. Continue if you want to see new convergence / divergence use MACD / STOCH / RSI. Do not wear too many indi ntar added confused. note: to determine the correct price action (reversal candle) should be much practice. Make a note on the chart. The picture is about the shape of the candle. keep an eye on what the correct determination of the candle is moving in accordance with the forecast. If you continue to be trained ntar you will be sensitive by itself, and know the shape of the candle without having to look at the notebook again.
DOWNLOAD THE BOOK OF EXAMPLES OF PRICE ACTION CONVINCED WITH FIBO
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