My main forex system

The main system that I used is based on Fibonnacci, Support/Resistance and Price action.

So what I do is to start from 4H TF chart and draw fibonnacci lines of the latest trend before a reversal. ( I will post Pics of what I mean soon )

E.g If price was going up and hit a peak, then it starts to go downwards, I will draw my fib lines based on the uptrend.

I will then draw many trend lines connecting the peaks and bottoms.

When I see trend line intersect with FIB line and S/R, it is a strong sign of a bounce upwards. I will always protect my profit at 20pips regardless if price will continue to go up.

If 20pips is hit, and price starts to go down, close trade. I can always enter again at a better price.

From my experience, when price retrace to 78 level, it will bounce first to 38 level and go back to bounce from 50/61 level. Sometimes on smaller TF like 5min, the price may even go back to 78 level before its trend continuation.

It is easier to trade on 1H chart, but if one cannot bear drawdowns psychologically, then it is safer for one to trade on 5min chart.