Do you need a simple however highly effective foreign exchange. buying and selling technique as a end result of right now i’m gonna. allow you to in on somewhat secret fibonacci. and rsi buying and selling strategy that may flip a. beginner into a professional i am pat i’m going to. educate you tips on how to use this strategy and. then i’m gonna trade it on a stay. trading account for the subsequent two days to. show you the way it works however earlier than i begin. make sure that you smash the like button. subscribe to the channel and go away a. comment as a end result of each time you do these. three things you get entered into a. raffle and last month’s raffle is over. you possibly can see the winners within the comments. part under proper now so let’s get. into it. right now’s simple foreign exchange technique is using. the relative energy indicator to tell. us when the market is overbought or. oversold if the rsi shows a price over. 70 it is overbought and if the rsi exhibits.
A value beneath 30 it is oversold both of. these numbers signify key factors in the. market when there might be a reversal so. that’s when i slap on the fibonacci. indicator and cash in on the. retracements often merchants like to make use of. the fibonacci indicator a unique method. they need the continuation but in this. case i need the retracement and i’m. going to capture those pips so let me. open up a chart and show you what i imply. okay so let’s get into the buying and selling. technique the first thing i want you to. do is come to. tradingview.com this is really easy all. you need to do is go to the indicator. section right right here and you’re solely. installing one indicator the relative. power index. easy it is on the chart now i just want. you to edit it make it easy for yourself. fashion it make it yellow for the upper. band make it yellow for the lower band.
This is going to make it really easy for. you to see. after we are overbought like this or when. we’re oversold when we get below that. yellow line and that is actually important. i will get into the foundations subsequent now that. you have that what i want you to do is. pull up the fibonacci retracement okay. just throw it on your chart like this. that’s easy it will look much. different so what i would like you to do is. just double click on on it you’ll find a way to pause. here and you’ll copy my settings these. are all that i use zero 382 zero.5 six one. eight and one these are the commonest. fibonacci retracements so it’s actually. all that you want then what i’ve is. just use one colour i’ve the degrees in. percents and i put the labels on the. proper hand facet i believe that is just the. best method to see it and now you could have. the strategy on your chart so let me get.
Into the principles. so now i am gonna present you the foundations of. this easy foreign exchange technique so you realize. when to buy and when to sell for our. entries we are actually focused on the rsi. indicator and only that indicator you. see here this is overbought so we would. be looking for sell. alternatives if i scroll again through. the rsi you’ll find a way to see again proper right here. that is overbought we would be trying. for sell alternatives and if i scroll. again far enough we are able to see that right. right here that is oversold so we would be. in search of purchase alternatives i’m not. utilizing the fibonacci the means in which lots of. people use it there’s a number of ways of. using it for this strategy i’m truly. utilizing the fibonacci to seize the. retracement let me truly go in to. present you an example right now okay so. right here we now have a buying and selling instance so let’s.
Take the fibonacci retracement you can. see it on the left facet of your buying and selling. view then you’re going to put it on the. backside of the wick at the beginning of. the impulse and you then’re gonna put it. at the finish of the impulse proper here. okay so now we have our alternative and. so this is coming proper right here right we. have the rsi right there it’s displaying. it’s overbought so what i’m doing is i’m. plotting the fibonacci on the chart to. give us our exit points proper so 50. is definitely what hit right here that is what. received the commerce you could also use 38.2 or. 61. this is one thing you can do when. you’re following your trade just take a. look what’s occurring is the candle. breaking through look the candle right. here broke via so i believed all. right maybe i’ll go for extra i am going to hit. the 50. so i took the 50 i got the.
Profit i received out of the trade so now i’m. gonna stay trade this buying and selling technique. for the following two days and see how much. cash i could make simply picking up the. retracements. let’s jump into my first trade utilizing. this simple foreign foreign money trading strategy you. can see right here the rsi is above 70 which. means it’s overbought so i am looking for. a sell position i am on the lookout for these. sellers proper here to. give somewhat bit of a push and then. retrace the market right here before it. rebounds back okay so the next thing i. do is i hit the fibonacci retracement so. i seize this i put the fibonacci. retracement at the backside of the wick. and then at the top of the wick right. here okay. after which i drag it across after which we. have our take profit ranges what so much. of people do. is they use the retracement like this. and then it’s going to hit the 50 or.
It’s going to hit the 60 and that is. where they’re going to use their entry. however what we’re doing is we’re utilizing the. rsi for our entry proper so we see the. it’s overbought proper right here so we want. the promote commerce this is what i’ve this. was the sell commerce that i chose i put a. 50 take revenue let’s have a look and see. what occurred with this commerce it was a. little bit of a gradual commerce it went for about 17. hours but you can see it’s stepping into my. direction it’s a really actually good. trade and that i do end up smashing the take. revenue i may have hit the 61.8 perhaps. that is what i ought to have done on this. commerce but i wasn’t watching it close. enough i in all probability should have trailed it. and obtained that additional profit but this. banked me to twenty-eight.2 pips. hundred and eleven dollars and before i. go i have to tell you for the stop loss. i put the stop loss originally just.
Above here good above the last. high right this is the final high proper. right here in order that’s the place i put the cease loss. you do not see the cease loss here as a result of. i turned it to interrupt even i made it. break even somewhere when i was round. here during the commerce because i simply. wished to lock in those pips so that was. the primary trade you can see the method it works. let me show you the second commerce let’s. see how a lot i made this week. let’s get into trade quantity two if. you are struggling in any respect with the. strategy be happy go away a comment i. will all the time get again to you i respond to. all my comments i suppose i simply do not. have a life let’s take a look at this. second commerce you’ll have the ability to see here we have. the rsi above 70 once more so we’re trying. for an additional promote commerce this commerce i type. of screwed up on you’ll find a way to see here i received.
In the commerce proper right here i should have. been getting in proper here however let me. simply backtrack a second right here you can see. here we’re overbought so i’m trying. for that sell commerce proper the next factor. i do is i seize the fibonacci retracement. i’m going from the bottom stage here to the. highest stage right here so you can see i felt. that this was going to go to the sixty one.8. mark in order that’s where i put my take. profit my stop loss sucked on this trade. i really sucked on this commerce normally. let’s simply go forward and i’ll present you. precisely what happened with the trade you. can see here it went in my path and. it smashed my take revenue proper growth i. win 1158 nevertheless it was just eight pips it. wasn’t a good trade truthfully what i. ought to have done is enter the commerce. right right here as a end result of this is the place it was. overbought and then we’d have gotten.
All of those pips however sadly i simply. wasn’t looking on the chart i received in. late i noticed the chance late i nonetheless. got the win you know the way it goes. typically for this reason i’m doing these. stay trades to show you the way buying and selling. truly is. let’s get it commerce number three it’s. going properly up to now let me show you the. next commerce. let me present you commerce quantity three with. the straightforward foreign foreign money trading technique you. can see right here proper we are breaking above. 70 we’re overbought again i must be. placing my commerce up here i positioned it. down here i will get into the details so. first thing you want to do grab your. fibonacci retracement. put it on the backside put it on the top. swing it throughout okay bingo. now we’ve our target earnings this one. i did not actually do a great job on it is. what it’s i’m telling you if you. commerce stay issues change let’s simply take.
A look and see what occurred with this. commerce that i placed and then i will give. you extra of a breakdown so you’ll be able to see. it goes in my course it triggers in a. little bit right here this trade was slightly. bit longer than the opposite ones but i did. end up successful this trade and i banked. seventeen hundred and thirty dollars so. it was a really good win ultimately even. though it did take some time to get there. and it wasn’t precisely the best entry. that i had with all of these trades you. can see right here i banged the winner i got. my 1800 or 1730 dollars so i was joyful. with the commerce however i wasn’t actually. following my guidelines right here clearly it was. overbought so i was looking for a sell. commerce i did put my fibonacci retracement. on but actually i must be buying and selling this. retracement from here right this is. the place i must be trading it from maybe.
I should simply be selecting up this or. possibly i must be picking up all of this. and then it’s a a lot better trade let me. leap into commerce number 4 it did a lot. better after which i will wrap up with some. live trading outcomes. for my fourth and last commerce you presumably can. truly see right here i am oversold here i. am oversold right here you can see i set my. stop loss proper right here i always set it. below the most recent low okay. so with the oversold right here the oversold. right here i am on the lookout for a buy trade for the. first time okay so what do i do i get my. fibonacci retracement i put it on the. top proper right here i put it on the bottom. proper here. bingo it was one thing i feel i used. this one right here so what i did is i. have again i’ve it at the 50 stage. that is at the 50 degree so it is a. degree that i actually like lots of people. like the 61.eight percent more that’s like.
The golden ratio or the golden quantity i. prefer 50 i am only a lower risk trader. so i imagine that this is going to go up. right here and hit that let’s go ahead and. have a look and see what happened with. this trade you would see i entered the. commerce proper here i gained the trade right. right here this was a pleasant win i made 2 831. dollars from this commerce actually really. pleased with this commerce i think it was. superior and i feel that this can be a good. trade for us to end off on so do not. depart right now as a result of i will pop. as much as my fx guide i’ll show you. the reside trading outcomes i will. discuss this slightly bit extra and. get you understanding how you should use. this in your dayto-day buying and selling to grab. 30 pips a day and simply win extra trades. with ease so obviously when you got this. far within the video you realize my easy.
Forex technique is a banger i like the. rsi i like the fibonacci even if i use. it in a bizarre method generally i hit. 8500 dollars in simply two days using this. strategy it actually works i know it actually works you. know it works i took 4 trades i gained. all four of these trades and i averaged. around 30 pips for each single win this. is an efficient technique but do not be an. fool use confluence use your individual. knowledge do not simply take every single. commerce each time it’s oversold or. overbought. use your own knowledge use your individual. cash administration and make good selections. if you got this far in the video come to. my instagram account give me a follow. like some posts dm me and that i’ll give 15. of you free entry to my vip group for. the following week i do this every week. you’ve received a few 5. chance to win if you dm me so it’s value. a shot and that is all i’ve received to say.