一路扇风 (Fanning all the way)

How about a trading system based solely on the 61.8% Fib fan levels. To give you an example of what I am talking about I will attempt this scenario. I have noticed that differant pairs react better to different fan levels. In the example below I am going to step by step show the setups that we are looking for. This particular example will be the Geppy, or the Hellevator or basically the GBP/JPY which tends to respect the 61.8% Fib for turning. So we look for the setup.

STEP 1

A bottom is created as the price moves back in retracement on the Daily chart.

STEP 2

Draw your Fib fan using the latest top and bottom.

STEP 3

Once your Fan is set all we have to do is wait for the price to make its way back to the 61.8% Fib Fan level. Then enter at or around that level with the stop back behind the last High, ( Yellow Line ). Use your imagination for Target, I used the UTL, ( White Dashed Line ) in this instance. But you can create something like, place 2 equal lots and since this is the Daily Target 100 and 200 and when 100 is hit, pull half off and move stop to B/E.

All comments are appreciated and since we are using the Daily we check once a day,

Jim