Fibonacci Fan Forex Support and Resistance Strategy

0
912

Fibonacci Fan Forex Support and Resistance Strategy

This system uses 1 hour or higher timeframe. This is applicable to all currency pairs.

Fibonnacci Fan is used in this system to identify trades that have a relatively small target.

It produces 3 lines set at the main Fibonacci retracement numbers, 38.2%, 50.0%, and 61.8%.

More often than not the main support line on the “Fibonacci Fan” is the 61.8%. Knowing this fact opens the door to our trading system.

When the price breaks the 38.2% line we can assume that it`s at least going to the 61.8% line. This is a small target but it is achieved with regularity.

Place Stop loss 10 pips above the high or below the low of the breaks bar.

Recommended MT4 Brokers

XM Broker

  • Free $50 To Start Trading Instantly! (Withdraw-able Profit)
  • Deposit Bonus up to $5,000
  • Unlimited Loyalty Program
  • Award Winning Forex Broker
  • Additional Exclusive Bonuses Throughout The Year

XM broker

>> Sign Up for XM Broker Account here <<

FBS Broker

  • Trade 100 Bonus: Free $100 to kickstart your trading journey!
  • 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
  • Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
  • ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
  • Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.

fbs broker

>> Sign Up for FBS Broker Account here <<

Click here below to download:

Save

Save



Get Download Access

Get Smarter About Forex Trading Using Indicators

Join 100,000+ subscribers and get our 5 min daily newsletter on what matters in forex.

We do not sell or share your information with anyone.

LEAVE A REPLY

Please enter your comment!
Please enter your name here