Fibonacci Retracement Intraday Forex System

Fibonacci Retracement Intraday Forex System is a retracement system based on famous Fibonacci numbers.
Time Frame 30 min, 60 min.
Currency pairs: ERR/USD, GBP/USD, USD/CHF, GBP/JPY, USD/CAD.
Forex Indicators:
10 EMA, close,
30 EMA , close.
Williams' percent range 34,
Draw Fibonacci levels.
Trading rules Fibonacci Retracement Intraday Forex System
Buy
After bullish movement, this pair has retraced up to 38% or 61.8% retracement level. The 61.8% level is a important and support level. When the pair is at these retracement levels after a up trend movement these are the entry buy signals.
The price is at Fibonacci retracement levels (38.2%, 50% or 61.8%) after a up trend movement.
Williams’ % R crosses above -80 line from the bottom of the oversold area.
Sell
The price is at Fibonacci retracement levels (38.2%, 50% or 61.8%) after a down trend movement.
Williams’ % R crosses below -20 line from the top of the overbought area.
Exit
Stop loss 25-35 pips.
Profit Target 30-40 pips.
Below charts with trades examples.
Fibonacci Retracement Intraday Forex System

Fibonacci Retracement Intraday Forex System

Fibonacci Retracement Intraday Forex System

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