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Trading metals to Fibonacci measurements

TradeGuidance - Sun Feb 25, 12:30PM CST

Most times, we use a combination of Fibonacci, GANN studies for support and resistance in our own trading. In this simple illustrative article, we show you how we opened and closed a trade with March'24 expiration Palladium futures on a 2-day swing trade. Opening the trade on Wednesday off a limit order and closing it on the flipside Fib touch. The entries were taken of limit orders using the fib levels as O-C-O orders shown on the chart and detailed below:

We trade in this fashion most times using technical analysis and trading around news events to avoid being stopped out of trades and try our best to latch on to smaller timeframe trends. Come try us out for a month with no obligation to continue beyond the initial month and allow us to help make your futures trading journey a profitable one.

Chart

Trade entry, stops and profit exits [all examples based of 1 lot]

Entry: 946.0

Stop:  935.0 [Potential loss had we been stopped: -$800]

Target: 999.0 

Gain from trade: +$5,300


On the date of publication, Murali Sarma did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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