EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #757 (permalink)

Massachusetts (USA)
 
Trading Experience: None
Platform: NinjaTrader
Favorite Futures: YM
 
stephenszpak's Avatar
 
Posts: 778 since Jun 2009
Thanks: 144 given, 365 received


Private Banker View Post
This is off topic but since he's trading the Euro, I'll add my two cents here. I hate to be critical of someone else's trading method really but I think fibonacci trading as a reason for entering a trade is a good way to step in front of a freight train. One of the biggest problems with using fibs for entries is determining whether you're drawing your anchor from the correct area. Fibs are excellent in using as an after the fact tool but as a sole trading tool, it can be random for sure.

Ok, I appreciate your comment. Maybe some traders would use a zig-zag for:

One of the biggest problems with using fibs for entries is determining
whether you're drawing your anchor from the correct area.


Someone recommended a special zig-zag indicator for me a couple weeks ago. Unfortunately,
for whatever reason, I didn't check it out. Perhaps in these videos, the trader looked for charts that
support his Fibonacci trading setups. (???)

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