Pips Made Easy: Scalping With Fibonacci: Consistent profits within Forex trends! by Matthew Emerson

Author:Matthew Emerson [Emerson, Matthew]
Language: eng
Format: azw3
Publisher: UNKNOWN
Published: 2016-11-02T16:00:00+00:00

Long trades 1) Price must be above the 40 ema.

2) Price must have already made at least one pullback before taking a long trade.

3) Upon the 2nd pullback we look for the last swing low point and use the Fibonacci retracement tool to plot the swing low to swing high of the current move.

4) We can enter the trade when price retraces to the 38.2%, 50%, 61.8%, or 78.6% ratios or anywhere in between these numbers.

5) Stop loss is set between a fixed number between 5-10 pips.

6) Take profit between 5-25 pips.

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