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07 - Class 07 - Intraday Trading With Fibs

The document discusses applying Fibonacci ratios to intraday trading. It outlines advantages of using Fibonacci for day traders, including providing a framework to harvest profits and being quick and accurate. It presents a simple intraday trading strategy called Anne-Marie's 15 Minute Rule and emphasizes keeping perspective on larger market timeframes when intraday trading.

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199 views4 pages

07 - Class 07 - Intraday Trading With Fibs

The document discusses applying Fibonacci ratios to intraday trading. It outlines advantages of using Fibonacci for day traders, including providing a framework to harvest profits and being quick and accurate. It presents a simple intraday trading strategy called Anne-Marie's 15 Minute Rule and emphasizes keeping perspective on larger market timeframes when intraday trading.

Uploaded by

movie download
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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TOTAL FIBONACCI TRADING CLASS VII: FIBS AND INTRADAY

Class VII: Fibonacci and Intraday Trading


Intraday Trading
• Why do we work so hard to establish confluence?
• Intraday trading mitigates many of the fibonacci challenges a Swing Trader deals with
because the effects of market cycles is diminished at this extreme perspective.

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.

PAGE 1 OF 4
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

Some Adjustments Necessary


• You will find yourself using more wicks than bodies
• Gaps are a lot more common between days. Use this to your advantage!
• Intraday traders by nature are more focused on price than time.
• Make sure you are measuring confirmed waves.

PAGE 2 OF 4
TOTAL FIBONACCI TRADING CLASS VII: FIBS AND INTRADAY

A Simple Intraday Strategy


Anne-Marie’s 15 Minute Rule
• If a trending stock breaks the low of the first fifteen minute
candle, it is likely to continue in the direction of the break
• If a trending stock breaks the high of the first fifteen minute
candle, it is likely to continue in the direction of the break
• Be cautious of gap fills
• Target using each of your Fibonacci retracement or extension levels
• Leg out of your trade and/or adjust your stop each time you reach a new Fib level.
➡ .618, .50, .382 (.809, .191)

Using fibs to create a logical price grid helps focus entries


and exits and reduces the temptation to “wait and see…”

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

PAGE 3 OF 4
TOTAL FIBONACCI TRADING CLASS VII: FIBS AND INTRADAY

“Steps” to Complete Fib Analysis


1. Establish your grid through confluence
2. The rest…! T r u l y, it
• Price Extensions d o e s n ’t
need to
• Fib Fans be more
• Time Projections
complicated
than that!

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!

PAGE 4 OF 4

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