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.
Rapporti di 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.
Uscita lampadario
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.
Trading Strategia
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.
Indicatori:
- Pinbar
- Lampadario Esci
Intervalli di tempo preferiti: Grafici di 1 ora e 4 ore
Coppie di valute: FX major, minors e cross
Sessioni di trading: Sessioni di Tokyo, Londra e New York
Acquista Trade Setup
Iscrizione
- 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'indicatore Pin Bar dovrebbe tracciare una freccia rivolta verso l'alto.
- Inserisci un ordine di acquisto alla conferma di queste condizioni.
Stop Loss
- Imposta lo stop loss al supporto sotto la candela di ingresso.
uscita
- Set the take profit target at the previous swing high.
Vendi configurazione commerciale
Iscrizione
- 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'indicatore Pin Bar dovrebbe tracciare una freccia rivolta verso il basso.
- Inserisci un ordine di vendita sulla conferma di queste condizioni.
Stop Loss
- Imposta lo stop loss alla resistenza sopra la candela di ingresso.
uscita
- Set the take profit target at the previous swing low.
Conclusione
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.
Istruzioni per l'installazione delle strategie di trading Forex
Questa strategia è una combinazione di indicatori e modello Metatrader 4 (MT4).
L'essenza di questa strategia forex è trasformare i dati storici accumulati ei segnali di trading.
Questa strategia offre l'opportunità di rilevare varie peculiarità e modelli nella dinamica dei prezzi che sono invisibili ad occhio nudo.
Sulla base di queste informazioni, i trader possono ipotizzare ulteriori movimenti di prezzo e adattare questa strategia di conseguenza.
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Come installare questa strategia Forex?
- Scaricare il file zip
- * Copia i file mq4 ed ex4 nella tua directory Metatrader / esperti / indicatori /
- Copia il file tpl (modello) nella directory / templates / di Metatrader
- Avviare o riavviare il tuo client Metatrader
- Seleziona Grafico e Intervallo di tempo in cui desideri testare la tua strategia forex
- Fai clic con il pulsante destro del mouse sul grafico di trading e passa il mouse su "Modello"
- Spostati a destra per selezionare questa strategia
- Vedrai che l'impostazione della strategia è disponibile sul tuo Grafico
* Nota: non tutte le strategie forex vengono fornite con file mq4 / ex4. Alcuni modelli sono già integrati con gli indicatori MT4 dalla piattaforma MetaTrader.
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