This is a guide for people with some, even basic, trading experience. I show you how can you trade with Fibonacci, but you should have some knowledge about trading.
You don’t have to be a daytrader. You can have a job and use Fibonacci as swing trading strategy on higher timeframes. That is one of the biggest misconceptions that you have to be in front of the screen all the time. I know traders who have great results and they trade on 4-hour or daily timeframe.
If you want to trade on lower timeframes that’s fine. Fibonacci works on every timeframe. Simply don’t put pressure on yourself that you have to day trade to make money. I write about it later in the section about money management.
As the name states, you will learn how to swing trade with Fibonacci tools. People often use Fibonacci tool for the basic task (for example to open a trade at 61.8% retracement). There are so many different ways you can use Fibonacci tools. Especially joining Fibonacci with Pivot Points can give you great setups. This is my favorite strategy and I think you will love it.
There is a part about opening a trade – you will learn how to use Fibonacci Retracement tool. You will also learn which strategies work best, I show you few different ways to confirm your entry.
There is also a part about closing a trade – you will learn how to use Fibonacci projections to select best exit points. I also write about other techniques which will help you maximize your profits.
I show you different ways you can trade with Fibonacci. In the end, it will be your task to select the strategies that work best for you.