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    Thread: Fibonacci Trading Journal - Ajagbeolegba

    1. #1
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      Default Fibonacci Trading Journal - Ajagbeolegba

      INTRODUCTION: I have being following some certain means by which traders are making success in the market, and i realized that Fibonacci is one of the key ones, and the traders that can trade it faithfully will make success through it. They are lines, and those lines are so powerful to either cause a meaningful breakout or repel the market price. Anyone that happens between the two will determine the what the market will do at any point in time.

      TIME FRAMES: Although, research has proven it beyond measures that Fibonacci trading system can work with any time frame. But i will confined mine between 4H-Weekly chart.

      STRATEGY: Just like the traditional way of trading the Fibonacci, i will follow the reaction of the market on its lines. However, i will focus more on three lines of the Fibonacci lines, namely: 38.2, 50.0 and 61.8.

      And as you can see on my daily live chart of the GBPUSD, the strong bullish thrust of the pair was not sudden, it was a rejection of 38.2 Fibonacci on the daily chart (The blue circled line), and after this, the pair began to climb up till this present time.

      https://i.imgur.com/TS6iArj.png

      CONCLUSION: Fibonacci is one of the most trusted trading strategy i know, i will try as much as possible to update it daily, so that all us here can learn and share ideas about this wonderful trading piece. HAPPY TRADING EVERYBODY!
      Last edited by ajagbeolegba; 11-29-2017 at 08:30 PM.

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      Gratz for starting your personal journal . I hope it brings you success and you continue to learn and benefit from the support of the members and their input. Fibonacci is quite a nice tool but I wouldn't use it alone myself, I trust it to be helpful when used with other means of basic analysis like trend and level, You might already be doing that but I wanted to mention it just in case. There's also the benefit for the Japanese candle types and formation which could verify the legitimacy of your recognized entries. I hope all goes well for you, can't wait to see how you read your charts.
      My Trading Journal: The Loser Cruiser - My Blog: Soldier

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      Quote Originally Posted by ajagbeolegba View Post
      INTRODUCTION: I have being following some certain means by which traders are making success in the market, and i realized that Fibonacci is one of the key ones, and the traders that can trade it faithfully will make success through it. They are lines, and those lines are so powerful to either cause a meaningful breakout or repel the market price. Anyone that happens between the two will determine the what the market will do at any point in time.

      TIME FRAMES: Although, research has proven it beyond measures that Fibonacci trading system can work with any time frame. But i will confined mine between 4H-Weekly chart.

      STRATEGY: Just like the traditional way of trading the Fibonacci, i will follow the reaction of the market on its lines. However, i will focus more on three lines of the Fibonacci lines, namely: 38.2, 50.0 and 61.8.

      And as you can see on my daily live chart of the GBPUSD, the strong bullish thrust of the pair was not sudden, it was a rejection of 38.2 Fibonacci on the daily chart (The blue circled line), and after this, the pair began to climb up till this present time.

      https://i.imgur.com/TS6iArj.png

      CONCLUSION: Fibonacci is one of the most trusted trading strategy i know, i will try as much as possible to update it daily, so that all us here can learn and share ideas about this wonderful trading piece. HAPPY TRADING EVERYBODY!
      A very warm welcome brother to this very informative section of the forum, I would love to learn few Fibonacci tricks from you because it might be helpful to my trading system as well, so I will keep an eye on this journal so keep up the good work and I wish you a lot of success.

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      Quote Originally Posted by ajagbeolegba View Post
      INTRODUCTION: I have being following some certain means by which traders are making success in the market, and i realized that Fibonacci is one of the key ones, and the traders that can trade it faithfully will make success through it. They are lines, and those lines are so powerful to either cause a meaningful breakout or repel the market price. Anyone that happens between the two will determine the what the market will do at any point in time.

      TIME FRAMES: Although, research has proven it beyond measures that Fibonacci trading system can work with any time frame. But i will confined mine between 4H-Weekly chart.

      STRATEGY: Just like the traditional way of trading the Fibonacci, i will follow the reaction of the market on its lines. However, i will focus more on three lines of the Fibonacci lines, namely: 38.2, 50.0 and 61.8.

      And as you can see on my daily live chart of the GBPUSD, the strong bullish thrust of the pair was not sudden, it was a rejection of 38.2 Fibonacci on the daily chart (The blue circled line), and after this, the pair began to climb up till this present time.

      https://i.imgur.com/TS6iArj.png

      CONCLUSION: Fibonacci is one of the most trusted trading strategy i know, i will try as much as possible to update it daily, so that all us here can learn and share ideas about this wonderful trading piece. HAPPY TRADING EVERYBODY!
      i use fibonacci also for my trading analysis and from my experience that it is better to use a bigger time frame to analyze the trend while for the entry we can use a smaller time frame because by doing that we will be able to minimize our risk in trading and really can maximize our earning

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      You are very welcome my friend, I have been following your post for a while now, and am glad you have decided to join the journal section, and the FIB is the most used and the most trusted indicators use by many traders, and It work well on the trending market, using it on the smaller time frame is going to be a waste of time, FIB Is. Mostly use for long term trade

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      Great you created your journal about fibonacci ajagbeolegba and this is your strategy, good explanation description about your strategy and I hope your always update here I want to know more because I need more knowledge from every trader especially from this forum. great for you mate and I hope you always win.

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      Good morning everyone! Thank you all for your warmth welcome on my Fibonacci journal, i appropriate ya'all.

      As you can see on my daily chart below on EURUSD, I have all right to believe that the pair is launching further to the upside direction after the former retracement earlier this week. My 38.2 Fibo line has been claimed successfully to the upside, and the 23'6 is being threatened now. If the price can break 23.6 Fibo line at 1.1862 to the upside, another strong bullish thrust is hence confirmed. HAPPY TRADING ALL!

      https://i.imgur.com/SWwvJb8.png

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      I am happy ajagbeolegba to see your trading journal, fibonacci is not commonly used by the people in this forum, I know there is a lot of things I can learn from you, I will try and be visiting your thread ad you give updates, I wish you all the best in your trading brother, have a nice day.

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      Quote Originally Posted by ajagbeolegba View Post
      Good morning everyone! Thank you all for your warmth welcome on my Fibonacci journal, i appropriate ya'all.

      As you can see on my daily chart below on EURUSD, I have all right to believe that the pair is launching further to the upside direction after the former retracement earlier this week. My 38.2 Fibo line has been claimed successfully to the upside, and the 23'6 is being threatened now. If the price can break 23.6 Fibo line at 1.1862 to the upside, another strong bullish thrust is hence confirmed. HAPPY TRADING ALL!

      https://i.imgur.com/SWwvJb8.png
      Welcome on having your own journal and from the way you talked about the Fibonacci system, it shows you have much confidence on this strategy. I hope your journal will bring so much inspiring moments and better profits as we go by the day. Lets see how this journey goes because we are all ready to learn from you.

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      Quote Originally Posted by ajagbeolegba View Post
      Good morning everyone! Thank you all for your warmth welcome on my Fibonacci journal, i appropriate ya'all.

      As you can see on my daily chart below on EURUSD, I have all right to believe that the pair is launching further to the upside direction after the former retracement earlier this week. My 38.2 Fibo line has been claimed successfully to the upside, and the 23'6 is being threatened now. If the price can break 23.6 Fibo line at 1.1862 to the upside, another strong bullish thrust is hence confirmed. HAPPY TRADING ALL!

      https://i.imgur.com/SWwvJb8.png
      thank you dear for posting EU daily chart for us, I am already in a buy in this pair since it is holding trend line and also currently in a channel, and my target is 1.2000 area, so do you think that my target is achievable according to Fibonacci?
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