Different traders have different approaches when it comes to trading the forex market. Many view forex trading as a fixed science. They would look for recurring scenarios in the forex market, identify the common confluences between these scenarios based on technical indicators, and gather data and identify whether the trade setup they have identified is a high probability trade setup or not. Then, they would trade these setups if the probability is good enough.
On the other hand, some traders also approach trading the forex market like an art. Instead of using fixed objective data as a basis for a trade setup, they would look for recurring patterns which they could base their trade on. Some would trade on price patterns or candlestick patterns, while others will trade based on market flow support and resistances. While these setups may be subjectively identified, it could work very well for the right trader.
One of the most popular recurring patterns in the trading market is price pulling back towards the Fibonacci Ratios before pushing for another breakout. While there is no scientific basis or logic regarding why price does this, it does seem to work very well for many traders.
Rapports de Fibonacci
The Fibonaci Ratios is a a series of numbers which represent a ratio which is recurring in nature. This ratio and proportion are found in the helix of a shell, the veins of a leaf, the fractals in a snowflake, the limbs in a human body, and more. It is also said to be the standard ratio that is most appealing to many people.
This ratio also occurs in the pullbacks of price action in a price chart. Although there is no scientific basis as to why it happens, price does tend to bounce off at retracements which are significant Fibonacci Ratios. Among these ratios, the most popular is the Golden Ratio, which is equivalent to 1.618. It is observed that price bounces off at levels around 61.8% of a price swing. And could often push further at 161.8% of the previous price swing.
Technical charting tools which are available in most trading platforms, including the MT4, include the Fibonacci Retracement ruler. This tool is widely used by many traders in order to identify such pullback points.
Pin Bar
The Pin Bar is a recurring candlestick pattern which is very popular among many price action traders. It represents a sudden reversal which occurs within one candlestick bar. This sudden reversal forms a candlestick with a very small body on one side and a long wick or tail on the other side.
This candlestick pattern indicates a very strong reversal indication. In fact, many traders use it as an entry trigger. They would use these patterns as a basis for a trade setup.
The Pin Bar indicator is a custom technical indicator which helps traders identify such patterns easily. It plots an arrow pointing up whenever it detects a bullish pin bar and an arrow pointing down whenever it detects a bearish pin bar.
Sortie de lustre
The Chandelier Exit indicator is a custom trend following technical indicator which is based on the Average True Range (ATR).
This indicator identifies the direction of the prevailing trend. It then plots a line which trails behind price action by a multiple of the ATR. The trend is bullish if the line trails below price action. On the other hand, the trend is bearish if the line trails above price action. The color of the line also changes depending on the direction of the trend. An orange line indicates a bullish trend, while a magenta line indicates a bearish trend.
This indicator can be used as a trend reversal indicator based on the shifting of the Chandelier Exit line, a trailing stop loss wherein traders can place their stop loss behind the line, and a trend direction bias filter wherein traders would trade only in the direction of the trend indicated by the Chandelier Exit line.
Stratégie de négociation
Golden Ratio Pullback Forex Trading Strategy is a Fibonacci Retracement pullback strategy which trades based on pullbacks and price rejections occurring on the area between 50% and 61.8% of the Fibonacci Ratio.
First, we should identify the swing points and connect a Fibonacci Retracement ruler between the swing points.
Then, we should confirm if the trend bias indicated by the Chandelier Exit line agrees with the direction of our trade.
Then, we wait for a pin bar pattern to occur on the area between 50% and 61.8% of the Fibonacci Retracement ruler. The Pin Bar indicator would make it easier for us to identify these patterns since it should plot an arrow pointing the direction of the pin bar pattern.
We then enter the trade with our targets at the previous opposing swing point.
Indicateurs:
- Barre d'épingle
- LustreSortie
Délais préférés: Graphiques 1 heure et 4 heures
Les paires de devises: Majeurs, mineurs et croix FX
Sessions de trading: Séances à Tokyo, Londres et New York
Acheter la configuration commerciale
Entrée
- Connect the Fibonacci Retracement ruler from the swing low to the swing high.
- Price action should be above the Chandelier Exit line.
- Price should pull back towards the area between 50% and 61.8% of the Fibonacci Retracement ruler and reject the said area.
- L'indicateur Pin Bar doit tracer une flèche pointant vers le haut.
- Entrez un ordre d'achat sur la confirmation de ces conditions.
Stop Loss
- Définissez le stop loss sur le support sous la bougie d'entrée.
Sortir
- Set the take profit target at the previous swing high.
Vendre la configuration du commerce
Entrée
- Connect the Fibonacci Retracement ruler from the swing high to the swing low.
- Price action should be below the Chandelier Exit line.
- Price should pull back towards the area between 50% and 61.8% of the Fibonacci Retracement ruler and reject the said area.
- L'indicateur Pin Bar doit tracer une flèche pointant vers le bas.
- Entrez un ordre de vente sur la confirmation de ces conditions.
Stop Loss
- Réglez le stop loss à la résistance au-dessus de la bougie d'entrée.
Sortir
- Set the take profit target at the previous swing low.
Conclusion
Trading based on Fibonacci Retracement pullbacks is a widely used trading strategy. Many professional traders trade according to this type of setup. Some would trade purely on price action rejections at 61.8%, while others would trade on levels 50% and 38.2%. The deeper the retracement, the better the risk-reward ratio. Some traders would be conservative and target only the prior swing point, while others would target the 161.8% level. Traders can adjust according to their risk appetite using this type of strategy.
The inclusion of the Chandelier Exit indicator allows traders to filter trades based on the trend bias. This allows traders to have a better win probability.
Although these trade setups are not easy to find, these setups tend to be very effective and is used by many professional traders around the world.
Instructions d'installation des stratégies de trading Forex
Cette stratégie est une combinaison d’indicateurs et de modèles Metatrader 4 (MT4).
L'essence de cette stratégie de forex est de transformer les données historiques accumulées et les signaux de trading.
Cette stratégie offre la possibilité de détecter diverses particularités et modèles de dynamique des prix qui sont invisibles à l’œil nu.
Sur la base de ces informations, les traders peuvent assumer d'autres mouvements de prix et ajuster cette stratégie en conséquence.
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Comment installer cette stratégie Forex ?
- Téléchargez le fichier zip
- * Copiez les fichiers mq4 et ex4 dans votre répertoire Metatrader / experts / indicateurs /
- Copiez le fichier tpl (Template) dans votre répertoire Metatrader / templates /
- Démarrer ou redémarrer votre client Metatrader
- Sélectionnez le graphique et la période où vous souhaitez tester votre stratégie forex
- Faites un clic droit sur votre graphique de trading et survolez "Template"
- Déplacez-vous vers la droite pour sélectionner cette stratégie
- Vous verrez que la configuration de la stratégie est disponible sur votre graphique
* Remarque: toutes les stratégies de forex ne sont pas fournies avec des fichiers mq4 / ex4. Certains modèles sont déjà intégrés aux indicateurs MT4 de la plateforme MetaTrader.
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