56# Forex Trend Strategy with Fibonacci Retracement Trading System
Exponential Moving Average (EMA) with Fibonacci Retracement
Submit by Frank 20/11/2013
Forex Trend Strategy with Fibonacci Retracement is trend following strategy but it is based on the lines of the support and resistance of Fibonacci .
Time Frame 60 min.
Currency pairs:any also metals and Oil.
Forex indicators
Exponential moving aerage (perios 150);
XIT Fibs (Fibonacci Retracement);
Stochastic indicator.
Rules for Forex Trend Strategy with Fibonacci Retracement Trading System
Enter a trade on the retracement.
Identify the Trend of the market (exponential moving average 150);
Wait for the price retrace an hit a Fibonacci level;
Check the stochastic indicator for Oversold and Overbought;
Stop loss (60 min time frame) 30 pips, Profit Target on the next Fibonacci level or 50-60 pips.
The advantage of this trading system is the excellent ratio profit/loss and has good profitability.
This trading system is discretionary this thing, it can be a disadvantage for principianti, so it is suitable for those with experience in trading.
Fibonacci Trading
Fibonacci Trading retracement
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