Dale Zamzow News Trading Fibonacci

News Trading Secrets: How Dale Zamzow Uses Fibonacci for Profitable Trades

This Book Includes:

Fibonacci Strategies for News Trading Success:

How Fibonacci and Bollinger Indicators Drive Success in Forex Trading.

• 1. Draw the Fibonacci retracement lines to match the high and low set during the first 25 to 30 minutes of the market for that stock.
• 2. Use 3-minute candles.
• 3. To get the Fibonacci retracement, right-click on the intraday chart, choose ‘Draw Attributes’ and you will see Fibonacci retracement as a selection.
• 4. Draw the high and low using the bodies of the candles, not the wicks.
• 5. Watch for confirmation.
• 6. The 50% line can be significant and may act as intraday support/resistance.
• 7. You may trade between the lines if you have a minimum $2 move from 50% to either the 0% line or the 100% line.
• 8. Get a sense of the pressure on the stock by watching the volume moves intraday.

Exit from Trade

1. • Your profit exit is a fixed amount – use 50 cents for your profit. Set a GTC to sell at that level.
2. • Your stop exit would be an alert set at either the 0% line or the 100% line.
3. • The stop exit alert tells you the stock is about to re-enter the first 30-minute trading range. Be ready to exit if it does.

Entry trade Verification

There are four important factors to consider for entering the trade:

• 1. Increasing volume
• 2. Stock is breaking out of the morning pattern
• 3. Approaching and touching the intraday Bollinger Band
• 4. The price chart verifies that there is still room at the current price.

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