Course Content
Introduction to Forex Market
Start with the basics; what is the forex market, who are the key players, learn about market structure and size, what are the advantages of forex trading, and why you should trade forex. Learn how to setup a free practice account so you can try everything you learn.
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Basic Terminology
Learn the basic terminology used while trading forex. Get familiar with basic terms such as currency pairs, types of orders, pips, spreads, margins, and leverage.
0/2
Synchronize Time and Place for Forex Trading
Delve into what is traded in the forex market, major currency pairs, cross currencies, and exotic pairs. Find out when the forex market is the most active and how money is made from trading.
0/2
Get Equipped for Forex Trading
Familiarize yourself with the basic tools needed to successfully trade forex. Learn how to analyze charts, trend lines, and time-frames. Discover what trading strategies are at your disposal, such as; scalping, day trading, long vs. short trading, swing trading, and many more.
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Fundamental Forex Trading Strategies
Discover the factors that most commonly influence the market and what impact they can have on your trading decisions. Learn how and when to use fundamental analysis, and the importance of a good economic calendar which details upcoming economic events.
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Technical Forex Trading Strategies
Learn how to use technical analysis to evaluate the market and acquire a better understanding of the most popular trading strategies. You’ll learn about price action, support and resistance levels, chart patterns, and the importance of technical analysis.
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Fibonacci Technical Indicator
The Fibonacci Indicator is one of the most commonly used indicators. Receive an in-depth explanation of what the Fibonacci indicator is and how to use it when trading. Start creating your personal trader's toolbox.
0/2
More Technical Trading Indicators
A profitable trader has many tools at his disposal. Learn about the essential tools used by traders such as; Moving Averages (MA), Relative Strength Index (RSI), Stochastic, Bollinger Bands, Parabolic SAR, ADX, and Pivot Points.
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Killer Combinations for Trading Strategies
The key to using forex indicators is to which to use together. Learn more about the Elliott Wave prediction pattern, divergence trading, carry trading, currency correlation strategies, and retracement/reversal strategies. Learn which indicators to use together for the best results.
0/9
Forex in Relation to Stocks and Commodities and Trading with MetaTrader
Learn about the inter-relationship between stocks, commodities, and indices to the forex market. Take your first steps and learn how to master the MetaTrader trading platform.
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Forex Trading Course
About Lesson

Fibonacci Trading Strategy + Trend Lines:

Fibonacci works best in times of high activity (Trendy market). Therefore, it makes sense that it works fantastically together with trend lines. We need to pay attention to trends, to identify them. You constantly need to remember that if trends are sticking out, you are probably not the only one to notice them. Other traders are probably watching them too, this is a good thing! Example: Watch this chart (AUD/JPY): Watch this chart (AUD/JPY)

Fibonacci Trading Strategy + Candlesticks:

Tip: You should be aware of Dojis (do you remember the candlesticks trading strategy?). Dojis tend to signal a trend ending soon, by describing a situation where buyers or sellers are getting tired, with a good chance of transferring the momentum to the other direction. Follow the next example in the sequential charts: A nice Doji formation Doji candlestick breaking out Important: Don’t get confused. Fibonacci is a fantastic technical indicator, but it is time to remind you that no indicator on earth works 100%! There are going to be occasions when we will have difficulties determining which points are Swing Lows and Swing Highs (in other words, when does a trend begin and when does it end?). Each trader is unique, with a view and commentary of his own. Each trader analyses the charts a bit differently. That is why we recommend using it in conjunction with one of the additional technical indicators you are going to learn about in the next lesson. After all, it is a bit of a guessing game. Our goal is to increase probabilities for successful guesses as much as we can. That’s why we advise that you add other technical indicators when you use the Fibonacci retracement levels and mix them with the fundamental analysis as well. To sum up: We can honestly state that Fibonacci is our most highly recommended indicator. Its accuracy and prediction capabilities are high, it is very reliable, it is easy to integrate with other technical indicators, and it makes it easy to spot levels and trends, such as supports, resistances, and reversals.

Practice

Go to your Demo account. If you don’t have one yet use our definitive guide to forex brokers to choose one. Now let’s practice Fibonacci on the platform:

  • Find Fibonacci on the platform (look for the technical indicators tab at the top of the chart). Click on the indicator and then click at the ‘swing low’ of the price. Hold and drag the cursor to the swing high. Discover how it appears on the chart.
  • Identify the main ratios on different kinds of charts and time frames.
  • With the help of Mr. Fibs, try to guess the point at which a reversal trend will appear.
  • Add Trend lines to the chart. Play with them a bit and try to open demo positions.
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