Using trendlines and fibonacci levels effectively to turn the mkt in your odds

[jazesfx]

I have been greatly following this lovely forum for sometime now and i must confess that i have really learnt a lot from you guys.As such am using this opportunity to share a lovely strategy i have been using for sometime with everyone in the house.
I use the fibonnacci and trendlines to trade GU,GJ and EU; i have tried it on other pairs too and it also works effectively with those pairs.
Here is how it works:
at market close everyday i go to the daily chart and draw my fib from the high to the recent low.
Then i take note of major support and resistance using trendlines.
Then i place a pending order above the recent high of the day if we are in a buy mode and vise versa for sell mode.
Below is my chart for today.

Ebook Strategies and Education

FibMaster's Fibonacci Training Videos

[FibMaster]

That's not too bad for a basic strategy. I looked at your charts, and found that you are using many Fibonacci levels.

I want to suggest that is it better to focus just on the stronger and more reliable Fibonacci retracements, rather than using them all indiscriminately.

There are a couple of video lessons in my signature that explain how to do this correctly.

Ebook Strategies and Education

FibMaster's Fibonacci Training Videos