Trading Systems and Strategies

Non Farm Payroll Eur USD Trade 01/08/2010

This signal is referred to as a BZ retrace which is a Fibonacci retracement after a new HH or LL.  I am currently focusing my study on learning to trade actual market shapes and patterns.  I have a lot to learn but lucky for me I have ‘found’ two traders who have been a long for quite some time and still use the same system.  This chart looks nothing like what they do besides just the Fibonacci retracement.

Tags: demark rei, fibonacci, fibonacci retracement, fibonacci trading system