Day Trading Strategy
Timeframe:
Indicators:
- Fibonacci (38.2,61.8)
- ZigZag (12,5,3)
Candlestick:
- Bearish or Bullish Engulfing
Putting it all together:
Step 1: Determine whether the trend is up or down (higher high/higher low or lower high/lower low).
Step 2: Drag the Fibonacci from the low of the zig-zag and the high of zig-zag when the price reverses.
Step3: Wait for the price to pullback to the 38.2 or 61.8 Fibonacci level.
Step4: Wait for a confirmation candle (Bullish/bearish engulfing candle).
Step5: Enter.