In this trading strategy video presented by Nathan Bray from ACY Securities, introduces Strategy Number Two: the Simple FIB. This strategy is tailored for intraday traders seeking to align their trades with the longer-term trend using Fibonacci retracement levels. Nathan emphasises the simplicity of the approach, highlighting how traders can identify entry and exit points with ease using the Fibonacci tool. Through a step-by-step demonstration on the hourly chart, Nathan illustrates how traders can capitalize on pullbacks within the trend by targeting specific Fibonacci retracement levels for both buying and selling opportunities.
Throughout the video, Nathan emphasises risk management and the importance of trading in line with the prevailing trend. He breaks down the process of identifying trade setups, setting stop-loss levels, and targeting profit levels using Fibonacci extensions. Nathan's clear explanations and practical examples provide viewers with a comprehensive understanding of how to implement the Simple FIB strategy effectively in their trading endeavours, making it accessible for traders of varying experience levels.
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Editors’ Picks
EUR/USD eases toward 1.1700 as USD finds fresh demand
EUR/USD eases toward the 1.1700 mark in early Europe on Friday. The pair faces headwinds from a renewed uptick in the US Dollar as investors look past softer US inflation data. However, the EUR/USD downside appears capped by expectations of Fed-ECB monetary policy divergence.
GBP/USD steadies below 1.3400 as traders digest BoE policy update and US inflation data
The GBP/USD pair stalls the previous day's pullback from the vicinity of mid-1.3400s and a nearly two-month high, though it struggles to attract meaningful buyers during the Asian session on Friday. Spot prices currently trade around the 1.3380-1.3385 region, up only 0.05% for the day, amid mixed cues.
USD/JPY extends gains above 156.00 after BoJ
USD/JPY sees a fresh leg higher and regains the 156.00 level on Friday. The Japanese Yen struggles to attract buyers even after BoJ Governor Ueda noted that they rate hikes will continue if economy develops as per projections, while the US Dollar clings to recovery gains, allowing the pair to hold its ground.
Editors’ Picks
EUR/USD eases toward 1.1700 as USD finds fresh demand
EUR/USD eases toward the 1.1700 mark in early Europe on Friday. The pair faces headwinds from a renewed uptick in the US Dollar as investors look past softer US inflation data. However, the EUR/USD downside appears capped by expectations of Fed-ECB monetary policy divergence.
USD/JPY extends gains above 156.00 after BoJ
USD/JPY sees a fresh leg higher and regains the 156.00 level on Friday. The Japanese Yen struggles to attract buyers even after BoJ Governor Ueda noted that they rate hikes will continue if economy develops as per projections, while the US Dollar clings to recovery gains, allowing the pair to hold its ground.
Gold seems vulnerable as USD bulls shrug off softer US CPI
Gold extends the previous day's late pullback from the vicinity of the record high and attracts some follow-through selling during the Asian session on Friday. The US CPI report released on Thursday pointed to cooling of inflationary pressure.
Bitcoin, Ethereum and Ripple correction slide as BoJ rate decision weighs on sentiment
Bitcoin, Ethereum, and Ripple are extending their correction phases after losing nearly 3%, 8%, and 10%, respectively, through Friday. The pullback phase is further strengthened as the upcoming Bank of Japan’s rate decision on Friday weighs on risk sentiment, with BTC breaking key support, ETH deepening weekly losses, and XRP sliding to multi-month lows.
Bank of England cuts rates in heavily divided decision
The Bank of England has cut rates to 3.75%, but the decision was more hawkish than expected, leaving market rates higher and sterling slightly stronger. It's a close call whether the Bank cuts again in February or March.
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