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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

Fibonacci Retracement Intraday Forex System Reviewed by learn forex trading on June 26, 2017 Rating: 5

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