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Thread: Using Fib Fan for entry in Harmonic setups

  1. #1
    Junior Member
    Join Date
    Jul 2012

    Lightbulb Using Fib Fan for entry in Harmonic setups


    Fib Fan could be used as entry point for trading harmonics. They would give a line which you could enter exactly and place a SL of a few pips behind the line. This means your trading will become much more tighter and would be possible to trade using Ratios of 30:1.


    I went through many visual backtests for harmonics found this year on M15 and H1 charts and found that the fib fan entry point did have a significant role. It dont think they validate a harmonic setup, if the setup is to fail it will fail and the fib line would be breached.

    However I did see that a large percentage of Harmonic setups that did turn on the Fib Fan lines.

    Types of Harmonic:

    It seems possible to use fib fan on all harmonics. I do have strong preference for Gartley because the pattern is so powerful that it has high success rate. As before the FibFan does not validate a harmonic but is to be used to get improved entry.

    How to do it:

    Configure Fib fan to include the following extensions: 1.27 and 1.61

    For the following harmonic setups : Gartley, BAT, BUTTERFLY CRAB draw a fib fan from point X to point B.

    Look at the fib fan harmonic lines and see if they intersect in the PRZ box (for some patterns this will not be the case in which case I would not enter).


    Using Fib Fan for entry in Harmonic setups-07.25.2012-09.06.09.jpg


    Using Fib Fan will help entry for Harmonics providing insane RR, it will result in loosers aswel but you would only loose a few pips.
    Last edited by drlobo; 07-25-2012 at 08:18 AM.

  2. #2
    Junior Member
    Join Date
    Jul 2012
    here is first trade for EU

    Using Fib Fan for entry in Harmonic setups-07.25.2012-09.55.29.jpg

    I dont know if it will work or not ... but I entered close to the line (I dont trade on MT4) so little risk. If the Fib line is breached goodbye trade. But there is little to loose and lots to gain.

    TP: I would like to see a new low ... let see. 50-100 pips.

    BE after 20.

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