trading record Day 4 for my simple Fibonacci strategy, buy signal
Today is friday, normally the Hang Seng Index would have a smaller fluctuation due to the exercise day of the weekly option. We could see that there is a buy signal for the first 15 mins, and I successfully took profit at level 2.236.
After that it shown a engulfing bearish candlestick, it told us that the direction should be changed to bearish from bullish. However there was no good entry point to trade, I chose to observe instead.
It is to record my futures day trading by using my own strategy discovered recently. The subject matter is Hong Kong Heng Seng Futures.
This strategy does not require complicated manipulation, just requires a Fibnoacci Retracement to find out a good entry of buying and selling, and a profitable exit.
I could not make the maximum profit today, but it is the first day only, I believe that my performance would get better and better.
I will make a video to explain further how the strategy works and how to struggle between fear and greed.
I am not sure whether it could be applied in other market as well, I hope you guys would find it useful~
Feel free to share some ideas~
Today the market has shown a weak sell signal.
We could trade conservatively to get a good price level to sell, like 0.236 or 0.382.
First target 1.618.
In a weak trend, nice entry is better than entering the market at market price.
Today's market started with a false breakout, then dropped into the fib level 0.
It seems that my strategy could not work at its best in this situation, but it would help us to reduce the risk, and clearly showed us when to stop.
Anyway, it is still a buy signal.
Just be patient and wait for 1.618 (26539).
I have to learn to bear the up and down during the trend, I think it is the most difficult part in trading.