Support and Resistances Projection

Fibonacci Series
Golden Ratio
Fibonacci for Supports
Fibonacci for Resistances

Leonardo Fibonacci

The “greatest European mathematician of the middle ages”
He was one of the first people to introduce the Hindu-Arabic numeric system into Europe
He created the famous Fibonacci series

The Fibonacci Series

Fibonacci series is a unique series of numbers
Each number is the sum of the previous two numbers

Golden Ratio

On any given line we have a unique point in the way it divides the line
b/a = a/a+b = 0.618
The result of the division is the Golden Ratio
Denoted as the Greek Letter Phi

Golden Rectangle – Golden Spiral

A golden rectangle is based on the Phi Ratio
The relationship between its two sides is the number Phi
Using this golden rectangle we can create a golden spiral

PHI in Nature

Branches and roots extend based on Fibonacci numbers
The golden spiral is seen in sea shells
The golden spiral is seen in Hurricanes
The golden spiral is seen in water

PHI in The Universe

Phi can be found in space
This galaxy follows the shape of a golden spiral

PHI in the Human Body

Body measurements are based on Phi
Even our DNA is made of golden rectangles

PHI is Everywhere

Φ is everywhere around us
Do you think we can not find it in the financial markets?
Prices find supports and resistances at the Fibonacci ratios

Fibonacci for Supports in an Uptrend

For supports
Draw Fibonacci from the ATL to ATH, from left to right
Use the 23.6%, 38.2% and 61.8% levels for potential supports

Fibonacci for Resistances in an Uptrend

For Resistances
Draw Fibonacci from the ATH to last bottom, from left to right
Use the 161.8%, 261.8%, and 423.6% levels for potential resistances

Fibonacci for Resistances in an Downtrend

For resistances
Draw Fibonacci from the ATH to ATL, from left to right
Use the 23.6%, 38.2% and 61.8% levels for potential resistances

Fibonacci for Supports in an Downtrend

For Supports
Draw Fibonacci from the ATL to last top, from left to right
Use the 161.8%, 261.8%, and 423.6% levels for potential supports

The Story of Desmond Leong

Desmond is your average trader. He started off blowing up 7 (or more.. lost count) accounts amounting to more than 500k, tested over 30 Expert Advisors (EAs) to no success and spent over 10k on stupid useless courses.

Today he runs an award winning trading team and provides market analysis and webinars to some of the largest brokers such as IC Markets, XM, Axi, Tickmill, FXCM, VantageFX, easyMarkets and more.

He now has a simple goal: Creating an army of traders who trade profitably together and keep each other accountable. Guiding them with the most comprehensive no-BS free tutorials so that no one ever needs to go through the pain he went through himself to become a profitable trader.

My Trading Strategy

Tools I Used

Video Tutorials

Tools I Used

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RISKS ASSOCIATED WITH FOREX TRADING

Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you. Before you decide to invest in foreign exchange, you should carefully assess your investment objectives, experience, financial possibilities and willingness to take risks. There is a possibility that you will lose your initial investment partially or completely. Therefore, you should not invest any funds that you cannot afford to completely lose in a worst-case scenario. You should also be aware of all the risks associated with foreign exchange trading and contact an independent financial advisor in case of doubt.

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

Leverage enables traders, using a relatively small amount of money, to take a position that is many times the initial investment. This leverage effect can work both in your favour and to your detriment. The Forex market opens up the possibility to utilize this leverage effect to a high degree; at the same time, however, it also opens up the risk of experiencing high losses. Please trade with caution when you use leverage in trading or investing. Your risk is particularly not limited to the initial investment, but can quickly fall into a negative range in the event of strong movements, meaning you may be obligated to pay far more than your initial wager.

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