3 Fibonacci Strategies That Worked For Me

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Fibonacci Trading Levels don't actually work.
We literally have data saying so.
If you take trades using the Fibonacci levels, you are most likely going to lose according to the data.
But when I started trading around 8 years ago, I did find important uses for the Fibonacci tool.
The use cases were so good that I was using Fibonacci in almost every trade.
So, in the next few minutes, I'm going to share the only 3 Fibonacci Trading Strategies that actually worked in my around 8 years of trading experience.
But here's the thing, I don't use Fibonacci in the traditional way.
What does that mean?
You see, many online articles and videos describe the Fibonacci Tool as if the Fibonacci numbers are a magic formula.
As if these numbers are so strong that price will magically reverse from them.
I find that to be a complete crap.
In my testing video, the data showed no sign of any Fibonacci level having an edge.
So, what I did is the following:
Step 1.
I open the chart, then place the Fibonacci Tool.
Step 2.
I go to its settings and hide every Fibonacci level except for 1, 0.5, 0.236, and 0.
Step 3.
To make things easier to read, I tell the Fibonacci tool to show these numbers as percentages instead of decimal points.
Step 4.
Then, I do something that I haven't seen many people do.
I use some of the hidden numbers to create negative levels.
Why?
I will tell you when I explain the strategy.
By using the hidden levels, I created -23.6%, -50%, and -100% Fibonacci levels.
Now, the Fibonacci tool is ready for my strategies.
By modifying the Fibonacci like this, I was solving 3 problems I faced.
But before I show you that, I want you to understand one very important thing.
What?
I use Fibonacci mainly in the trending market.
When there is an uptrend, I place the Fibonacci tool like this, from the swing low of the upward move to the swing high of the upward move.
Once it's placed, all Fibonacci is showing is how much the price has fallen in percentage terms compared to the upward move.
For example, when I place it using swing low and high of this upward move, it sees that as a 100% move.
Inside this 100% move, it draws other Fibonacci percentages such as 23.6% and 50%.
The reason why I'm explaining this is that I selected the 50% level because it's the halfway point of the upward move.
And the 23.6% level because it's pretty much the one-fourth point of the upward move.
I don't really care if they also happen to be the magical Fibonacci levels. You can make this 23.6% level into 25% so that it's exactly the one-fourth point, and it won't affect the strategy I'm going to show next.
My Fibonacci trading strategy is based on the Fibonacci tool and not the Fibonacci numbers, which don't actually work according to the data.
What about the negative numbers?
When I used negative numbers such as -23.6%, -50%, and -100%, the Fibonacci Tool basically copy-pasted itself but upside down.
How was this helpful to me?
Let's go through the 3 strategies and what problems they solved for me one by one.

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currently using MACD with a 58% winrate and a RR 1/2 on 4 hour candles uptrending stocks only !

remcoscholteaalbes

I know why most of the traders who use Fibonacci are failing: because the Fibonacci tool is related to the Elliott wave principle. Without it, you‘re using the Fibonacci tool wrong.

JohLang