I have a young Egyptian friend who has a unique way of trading. Praise be to God, he is well-off despite his young age. Anyway, I insisted until he agreed to give me the secret of this method. Of course, I asked his permission to publish it.
The method is very easy and I myself have tried it for a week now and thank God the results are really more than amazing when I adhered to the conditions 100%
The method was tried by my friend on a real account and he made profits from it, God willing.
In the name of God, I trust in God, and there is no power or strength except with God
Required indicators:
1- Zigzag with a rating of 25 - 5 - 3
2- Moveing average (Eponential 20)
3- fibonacci
Method:
1- Using zigzag, we determine the peaks and troughs.
2- If the zigzag is ascending, we draw the Fibonacci from the bottom to the top, and if it is descending, we draw the Fibonacci from the top to the bottom, and whenever the zigzag moves, we adjust the Fibonacci with it.
3- When the price begins to reverse and the first candle closes below or above the 23.6 Fibonacci ratio, we look for the next step.
4- The candle that closed after 23.6 must close higher than the EMA 20 according to the market trend. That is, if it is bullish, it will close higher than the EMA, and if it is bearish, it will close below the EMA.
5- The stop-low is... We look for the first candle that closed above 23.6 and place the stop-low at the lowest LOW in the case of buying or the highest HIGH in the case of selling of the candle before it... Initially, when I was training on it, I used to place the stop at the last point that the zigzag reached.
7- The profit is five pips before the 38.2 Fib line.
8- It is preferable to enter after a trend or long-term fluctuations.
9- Complete commitment to all conditions, meaning don’t be greedy and say you’ll wait until the profit reaches 50% Fibo.This is my Egyptian friend's strategy. I hope you find it useful.