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.
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