{"id":239943,"date":"2022-07-02T14:05:11","date_gmt":"2022-07-02T06:05:11","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/library\/philosophy\/swingfish-private\/2022\/07\/strategy-bored-fibonacci-lazy-fib\/"},"modified":"2024-07-13T23:43:13","modified_gmt":"2024-07-13T15:43:13","slug":"strategy-bored-fibonacci-lazy-fib","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/strategies\/2022\/07\/strategy-bored-fibonacci-lazy-fib\/","title":{"rendered":"Strategy: Bored Fibonacci (lazy fib)"},"content":{"rendered":"
\n

to discuss this strategy, just head to the post on Forex-factory<\/a><\/p><\/blockquote>\n

everyone knows \u00c2\u201cDONT Trade if you bored\u00c2\u201d
\nwell, I did it anyway and blow away ALOT of $$ in the process.<\/p>\n

if you are like me and can\u00c2\u2019t control yourself .. better stop trading
\nor do this below:
\nit\u00c2\u2019s basically a way to let you \u00c2\u201cchase trades\u00c2\u201d<\/p>\n

based on Beauty rather than difficult analytics \u00c2\u2026 (yes I meant Beauty because the strategy works best and only on a clear structure<\/b>)
\nperfect for quiet markets (personally I make the best results in the Asian session as there are less news and levels are better respected)<\/p>\n

look at this screen below and tell me if you would have taken this trade-off the 1H chart:<\/p>\n

\"\"<\/a><\/p>\n

I would not<\/p>\n

so the first part of this strategy is to zoom in\/out so far until the chart does look \u00c2\u201cnice\u00c2\u201d
\nwhere \u00c2\u201cnice\u00c2\u201d means where you can clearly see the steps a typical trend does \u00c2\u201cHH-HL-HH\u00c2\u201d or \u00c2\u201cLH-LL-LH\u00c2\u201d<\/p>\n

like this (same time as above, just on M3)<\/p>\n

\"\"<\/a><\/p>\n

Indicators needed:\u00c2\u00a0None<\/b>
\nTools Needed:\u00c2\u00a0Fibonacci extension tool with the values: 0, -5, 38, 83<\/b><\/p>\n

find the trend-sequence appearing \u00c2\u201cCLEARLY<\/b>\u00c2\u201c(this is VERY VERY important!!!<\/b><\/u>\u00c2\u00a0.. if there is consolidation in the way .. drop it .. wait for next setup.)<\/p>\n

Long Setup:<\/p>\n

    \n
  1. draw the first part of the extension from LH to HH while the retracement-candles are still building<\/li>\n
  2. after this you can place a buy stop with SL and TP preset already as the range will not change anymore. this enables you to make proper Money Management.<\/li>\n
  3. then \u00c2\u201ccorrect\u00c2\u201d the Extention line to the current building HL ONLY Downwards and keep moving the Buy Stop to align with 38% of the Extention.<\/li>\n
  4. once direction change upwards .. wait<\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    3 things<\/b>\u00c2\u00a0can happen:<\/p>\n

      \n
    1. price goes below stop loss -> move the\u00c2\u00a0<\/b>extension<\/b>\u00c2\u00a0to the new Low and -> move pending order to be filled at the new 38% level<\/b><\/li>\n
    2. price goes lower than previous low -> Cancel order (the trend is no longer valid)<\/b><\/li>\n
    3. order get filed -> wait for TP<\/b><\/li>\n<\/ol>\n

      I tested this with 152 trades with a 56% Win Ratio.
      \nlet me know what you guys think of that.<\/p>\n

      Here quick Video about the re-positioning
      \n[embedyt] https:\/\/www.youtube.com\/watch?v=EqupNWUF5xs[\/embedyt]<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      to discuss this strategy, just head to the post on Forex-factory everyone knows \u00c2\u201cDONT Trade if you bored\u00c2\u201d well, I did it anyway and blow away ALOT of $$ in the process. if you are like me and can\u00c2\u2019t control yourself .. better stop trading or do this below: it\u00c2\u2019s basically a way to let […]<\/p>\n","protected":false},"author":1,"featured_media":239944,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[115],"class_list":["post-239943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategies","tag-swingfish-private"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/239943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=239943"}],"version-history":[{"count":2,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/239943\/revisions"}],"predecessor-version":[{"id":402031,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/239943\/revisions\/402031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media\/239944"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=239943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=239943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=239943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}