Fib on NQ
To be a good trader, first, we need to be a good analyst(which is what we are currently training our snipers to do), you must be able to flow together with the market. Learning to read the market is like learning a new language, need to have the environment and a lot of practices.
Market movements are quite repetitive. Traders need to remember some of those important movements that market has presented previously and it will likely play out for you once again. Just like hunting for Chart patterns, there're way too many chart patterns out there which traders/trainers have identified, but over here at Sniper Club, we just need to focus on 2 most important chart patterns and the chances of these 2 patterns appearing are frequent enough for you to take advantage of. (be it H1 or LTF)
This is a NQ H1 chart, can you spot the 2 chart patterns? It is not that difficult "IF" you do not have too many other strategies to "distract" you.
Fibonacci is a good tool to use when deciding whether is it a good time now to go "Long" or "Short" the market. You need a specific trade plan that describes what your trade setups are; how you’re going to get into the trades; what you are going to risk; how you’re going to manage the trade and take profits; how you’re going to have certain targets.
A "H&S" in NQ formed around late Nov-2021, and price starts to retrace from the high. It did try to went back up during Dec-2021, but it was again sell off from there by FIB traders :D (I would always like to use that belief). The whole Jan-2022 was down and early Feb-2022, another H&S formed at the first FIB level.
Like anything else in life, to get good at something you need to practice.
JG--11/02/2022; CNY day 11