“I would never come to work without my Fibonacci tape measure!”
Would you even consider hiring a contractor to build your new home if you knew that he did not own a tape measure? Of course, you wouldn’t. One of the least expensive and smallest tools a contractor owns is a high-quality tape measure. You could build the house to exacting standards using all hand tools instead of power tools, as long as you had an accurate tape measure.
The Fibonacci Pattern in Forex
From the moment I started trading, I fell in love with Fibonacci measurements. Although I had heard of them, and even studied them in some of my math classes, I had no idea just how powerful they really are. I have now spent countless hours studying Fibonacci numbers that are used in trading, as well as recognizing how Fibonacci sequencing occurs all throughout nature and in architectural design. I could write volumes of books about Fibonacci, but a lot of people much smarter than me already have. What I do know is that Fibonacci sequencing is the logical order of design in the universe. It defines perfection in design. It is elegant. It is balanced. It is symmetrical.
So what does that have to do with trading charts?
Well, contained within the chart movements that are continually adjusting are Fibonacci measurements. The project with the highest degree of accuracy that can be calculated where the current move is going to struggle or even terminate.
What very few traders understand is that there are far more Fibonacci measurements than just the internal retracements that most traders use. I teach my students 4 more measurements that are all projected from 3 different points on the chart, not just two points used in the internal retracement. They are not difficult to learn but do require time and practice to master their application. I will teach you how and when to apply those measurements to achieve optimal results in chart analysis.
Fibonacci in MT4
They can all be achieved using the standard Fibonacci tools contained within yourMetatrader MT4 charts. However, we have developed a very powerful add-on tool for the MT4 charts that will turbo-charge your measurements, both in terms of speed and accuracy. It will save you hours every week of otherwise tedious chart work due to the limitations found within MT4. There are very specific and well-defined patterns that we trade in our live trade rooms every day based on very precise Fibonacci measurements. The trades are most often identified ahead of time, often hours and days ahead of time. Once you learn to properly apply the measurements and recognize the patterns you will learn to further qualify the trade using a couple of other filters that you will be taught, and you will be able to recognize and trade patterns that were previously unknown to you. If you want to get success in Forex trading using Fibonacci or other indicators, you need to study for it, because progress does not stand still and there are always new programs are capable to help you with this. We look forward to your participation in our training and live trading rooms.