Using Fibonacci to Measure Spikes (Forex News Trading)

Using Fibs when next pivot level is too far away.

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    13 Responses to “Using Fibonacci to Measure Spikes (Forex News Trading)”

    1. eldoradas says:

      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 :)

    2. fxKnight says:

      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.

    3. MasterBlasterSteele says:

      Thanks for the video,

      I’m starting to learn fibonacci, and would like to know why you looked specifically at 61.8 level when measuring, and not some other

    4. bobahas says:

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

    5. bobahas says:

      I tried few min ago, it did work for eur/usd

    6. 9999nb says:

      Thank you. Can you take off grid.

    7. laton0 says:

      i found this nice system
      todaymarketsignalsdotblogspotdotcom

    8. bgkrider says:

      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?

    9. fxKnight says:

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

    10. fxKnight says:

      correct :)

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