How To Make Money Using Fibonacci Analysis

To make $$$ trading my work you need at least two things.  First you need a trade setup, and then you need a trigger that tells you that it is worth placing a bet against the setup zone. Here is an example of a trade setup in $CMG.  I’m looking to see if this support illustrated on the 78-minute chart holds (which so far it is).  Then I’m going down to a 15-minute chart to see if it triggers a buy entry for a swing trade entry….OR I could use a 3 – 5 minute chart for a day trade trigger.

how-to-make-money-fibonacci-analysis-cmg78

For more information about exactly what a trigger is, please refer to my guidelines HERE

Now if this setup does trigger an entry, my risk can be defined either below the low made prior to the trigger OR below the low end of the cluster zone which is below the 430.55 area. The potential upside target if this zone holds is currently around the 497 area. We know we are wrong the setup if the zone is violated by a couple of bucks!!

See more from the Fibonacci Queen HERE.
Carolyn Boroden

Carolyn Boroden Fibonacci Queen

After quitting high school and running away from home, Carolyn Boroden took the “non-traditional road” to Wall Street. She found a job as a secretary/gopher to the GOVT Bond Trading Room and Donaldson, Lufkin and Jenrette.Fast-forward a few years after the crash of ‘87 when Carolyn found her mentor, Robert Miner and learned of his work with Fibonacci. After that, as they say, “the rest is history.”

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