1# Fibonacci Retracement Trading System
Submit by forexstrategiesresources
Time Frame: H1,4H, daily or weekly.
Pairs: all.
In this system, we defined both long and short entries as well as exit orders. We also did some
setup work for an exponential moving average, the 50-bar high-low range, and the .382
retracements. The setups, entries, and exits are defined next.
Setup
a) Calculate a 15-bar exponential moving average (EMA) of closes.
b) Calculate the high-low range of the last 50 bars and .382 retracements from the high and low.
Long Entry Position
a) Check for a close at or below the .382 retracement level.
b) Check for the 15-bar EMA to be greater than it was one bar ago or for a close above the
EMA.
c) Buy on the next open.
Shor Entry Position
a) Check for a close at or above the .382 retracement level.
b) Check for 15-bar EMA to be less than it was one bar ago or for a close below the EMA.
c) Sell short on the next open.
Exit Order
a) Once we enter a position, we’ll set a money management stop.
b) We’ll also set a $ Risk trailing stop to lock in profits while also attempting to let profits run.
In the picture Fibonacci Retracement forex system in action.
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