A strategy to trade with a series of 4 touch points on Fibonacci

• Test any currency pair on any timeframe. At the beginning to use the strategy you can use a fixed time frame to get used to it. For example, the time frame H1.
• Identify the current major market trend.
• Locate the highest and lowest recent highs.
• Draw fibo following the current trend. For example, in an uptrend, draw from bottom to top, if in a downtrend, draw from top to bottom.
• Then follow the levels on the fibo to trade and note, each strategy will have a stop loss of about 10 pips from 0% or set according to the ATR (14).
Now we see a few examples below to understand how to trade. As mentioned we have 4 main points, now let's go one by one.

Point 1

The principle is as follows:
• First touch: 23.6%
• Entry points: 9%
• Target: 50%
See the picture below:

As you can see, the main use of this entry point is that the previous trend was bearish. The blue circled areas are the pivot point and the first touchpoint.

The stop loss is about 10 pips away from 0% and our take profit target is 50%, as is the case above 65 pips. You can place a buy limit or buy stop order after a bullish candle appears depending on your trading style.

Point 2

The principle is as follows:
• First touch: 38.2%
• Entry point: 14.6%
• Target: 61.8%
See the picture below:

You may have to wait a few hours to get your first entry point (that's for the H1 timeframe). As in the above case, the order has not yet been stopped. Then the price dropped beautifully and took profit.

Point 3

The principle is as follows:
• First touch: 50%
• Entry points: 23.6%
• Target: 61.8%
In this example we use the chart of example 1, see the picture below:

In this case, after the bulls make a new high, the 3 pink circled areas can be used as new points to find key points for us to trade. In this case, the first touch is 50% and our entry will be at 23.6%.

Point 4

The principle is as follows:
• First touch: 61.8%
• Entry point: 14.6%
• Target: 61.8%
This setting rarely appears, but if it meets the conditions, you should just trade as usual as the above rule. Your entry points, don't lose or take profits are clear.

Conclude

It seems that we combine these points with trading on H1, H4 timeframes that will be more suitable. In which the score 1 and score 2 are the 2 most used points. Because they are formed in areas where there is a chance that prices will retreat more.

The RR ratio of this strategy is also quite good, but when trading, remember to strictly manage your capital and adhere to the trading principles of the trading strategy.

So backtest this strategy on past charts, then practice on demo account before trading for real.