Super Signal Fix Distance V3 is a good BUY and SELL signal indicator. But like many other indicators, fake signals occur every time. Even there is a SELL signal, its not necessarily to open SELL immediately. We must have another strategy or indicator to confirm that the price will move down. Here I want to show you how to use this Super Signal Fix Distance indicator with Fibonacci breakout strategy.
This strategy sometimes hit the profit target in just few minutes but sometimes it can take few days. But my believe is that the level 161.8 is very important, so no matter how long it will take, the profit target will be reached, as long as the conditions are met.
See the chart above. The arrow with purple circle is the place we we are looking for SELL opportunity. The idea is to sell when price break this UP arrow. But please note that we only look for the BIG arrow, not the small cross ones.
On the chart, we will look for buy only if the BIG YELLOW arrow has been broken.Here is how to trade this kind of breakout.
SELL condition:
On the chart, see how price break the green arrow. Next we draw the fibonacci retracement from the green arrow to the upper resistant. The target profit is the level 161.8.
BUY condition:
If we have Yellow arrow, we draw Fibonacci from this arrow to the last support. The target profit is level 161.8. See how price move up and hit our target on the chart above.
The good idea is to trade all the signal. In many cases, after there is a qualified SELL signal, it takes long time (sometimes can be more than a day). We can open BUY as well if there is a qualified signal, so we have two running trades. But let them find their own target.
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