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07 - Class 07 - Intraday Trading With Fibs
07 - Class 07 - Intraday Trading With Fibs
vs.
C
Do no aution:
t
Advantages of Fibs to a day-trader s u c c e mistakenly a
• Provides a framework to harvest profits ssful pply
fibonac i
• Can be quick and accurate ci prin n t r a d a y
daily (o cip
r larger les to a
) time s
cale.
Fractals
• A geometric shape that when split into parts still has a
reflection of the whole.
• We’ve already seen fractals in Class Five…
• Since waves are fractal across all time scales, we can also apply
fibonacci ratios at each level.
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TOTAL FIBONACCI TRADING CLASS VII: FIBS AND INTRADAY
Additional Ratios
• Because fibs are both multiplicative and divisible (Class One), you may also use the ratio
.191 which is 50% between .382 and 0.
• Likewise you can also use .809 which is 50% between .618 and 1.
• Some traders use the ratio .786 (square root of .618) and its reciprocal .272
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TOTAL FIBONACCI TRADING CLASS VII: FIBS AND INTRADAY
Keeping Perspective
• Successful intraday traders are constantly aware of the larger market framework.
• Just because you trade a 5 minute chart does not give you permission to neglect daily and
weekly perspectives.
• Diligently begin your intraday analysis with a complete picture of the market. You must
become an expert at “swing analysis” and intraday analysis.
Review
Price projections and targeting:
• Support and Resistance tool for measuring & subdividing price ranges
• Extension tool for measuring and subdividing retracements
• Expansion tool for measuring and subdividing price targets
• Fib Fan tool for measuring and subdividing trending targets
Time Targeting:
• Time Extension tool for measuring and subdividing time ranges (x-axis)
• Time Zone tool for identifying Fibonacci time cycles
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TOTAL FIBONACCI TRADING CLASS VII: FIBS AND INTRADAY
Homework
• Continue with your back trading. Spend at least 10 hours over the
next two weeks.
(Does not need to be completed prior to class 8)
• Find a minimum of 10 trades that adhered to
the principles of the 15 minute rule.
• Bring your trading metrics to Class 8
➡ Average W/L Ratios • Average ROI • Average Loss (%)
Next Lesson
• Creating a Plan for Success!
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