Fibonacci Optimal Trade Entry on a 5-Minute GBP Forex Chart

high that was what I was watching

live at the time. It overshot a little bit,

traded a little bit deeper than I would

have liked to seen, but nonetheless, the underlying market structure was still

intact. And then the displacement to the outside

running

quickly through the mid-figure and up through the eighty level.

All right, so we are looking at

the change in the state of delivery

with this down closed candle here, the opening.

Everything else after that is delivery on the upside.

So this is where the algorithm changes its state of delivery.

Anchor your fib to that, to the high.

You can see we traded down into an optimal trade entry and seventy point five

level. Isn't that amazing?

Not your classical Fibonacci approach, but it's consistent, isn't

it? Because the algorithm is looking for these areas in

terms of

range, overbought, oversold, and that's what it's measuring here,

these two price points.

So it's coming back down in, finding that level, and then

shoots up and attacks this level here.

So if you put your Fibonacci

on the five-minute chart of British Pound using forex.com's data,

put, put it on the opening price of this candle

right here on a five-minute chart

and anchor it to the high here, okay?

And

this level here, one thirty-eight ninety-four

and three pipettes.

Notice I have this little marker right above that candle right there.

When I screen captured this, I have my mouse like it is right here,

right underneath that candle, so that way all the data over here

is showing for this candle right there. Don't take my word for it.

I want you to go into your own chart and do it,

and you'll see that the high is one thirty-eight ninety-four

and three pipettes.

What's the projection here? One thirty-eight ninety-four

and three pipettes.

Perfect. Okay?

I wanna be out. I don't always hope for that target.

That's i- that's an ideal, obvious target.

That's a trophy win for me. But if it runs to my objective

and gets me out at one thirty-eight sixty-eight and two pipettes or whatever,

then great. That's, that was my trade. That's what I wanted.

But my belief was that it could potentially trade up to

here.

So over time,

you're gonna gradually work towards a comfort level that

you'll probably wanna get closer to these objectives.

Whereas over time, I've learned that sometimes it could just fall short of

that and

consolidate just below it and never give me that,

and it maybe retrace a little

bit, and then I regret not having taken

something out.

So

fifty pips is fifty pips, folks, and

you gotta get it where you can get it, and it's not about capturing every

piece of