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Article Summary: When studying how to place trades in the direction of the trend many traders focus on the four most common indicators used by technical traders.
In short, Fibonacci numbers or ratios are mathematically significant numbers that occur throughout nature and often in financial markets.
An important note about using any trading methodology is that neither you nor I can guess with perfect accuracy a future move. First and foremost, you want to focus on trading in the direction of the trend of the chart you are trading on. Fibonacci Expansions and Extensions can be great leading indicator of price targets once a Retracement level is honored.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM. Improve your forex trading by learning how to use Fibonacci retracement levels to know when to enter a currency trade. Fibonacci retracement lines are based on the Fibonacci Sequence and are to bolster your initial analysis before basing a large trade solely on the 'Fibs'. Learn how to use Fibonacci retracements as part of an overall forex trading strategy Fibonacci levels are carefully watched by forex traders. Here, you would find information on a specific Fibonacci level with focus on trade and mostly in seclusion. When it is exclaimed that it is achieved by making retracement of Fibonacci, it means the retracement to 88.6% tells the range of the original characters.
Fibonacci retracements are a tool used in financial markets to find points of support and resistance on a price chart.


However, by adding Fibonacci to your trading (Click Here to Register For Our Free Online Fibonacci Course), not only can you locate future targets for stops and exits but you can also find triggers to improve your forex trading results in as little as two steps. Naturally, we feel that trading in the direction of the overall trend is the best way to put the odds of success in your favor.
As a refresher, the prevailing trend is the one you’re using to draw the Fibonacci line from. The weekly trend may vary from the trend on the 4 hour chart, but if you’re trading on the 4 hour chart than that is the trend you should be focusing on. Deciding which tool to use is a personal choice for price targets as both methods have their benefits. Beyond trading in the direction of the dominant trend there are a few tools that you can use to help you find specific entry and exit targets. If there is currently a bearish (down) trend and a retracement is taking shape then you’d want to look for resistance.
Once you notice a strong move off of support in an uptrend or resistance in a downtrend then you can use further levels of resistance as price targets. Therefore, in a prevalent downtrend, because you drew from left to right and top to bottom, you are looking for resistance being honored and move back to the downside. To find an extension level on a new downtrend you would run the low to high extension for possible support. For potential resistance or buy targets, you would draw from a major low to a major high back to a major low to get resistance. For summarization, this level, which was reached after using 0.618, the Golden Ratio, the square root and the square to achieve 0886.


The unique thing about Fibonacci levels is that they are not influenced by a specific time. Trend traders often use Fibonacci retracements in conjuncture with other forms of technical analysis such as trend lines and oscillators for timing market entries. Reversely, on a new uptrend, you would run the high to low extensions for possible resistance that can act as profit targets. For potential support or selling targets you would draw from a major high to major low back to another major high from left to right. Use a long-term plan while entering shorter-term time frames, keeping higher risk-reward ratios and tight stop-loss in your trade. Traditionally, traders begin to look for price to move from these levels back into the direction of the initial trend.
The Chart below demonstrates how a Fibonacci retracement may match up with a strong trend line. However, knowledge of Fibonacci Retracements is a great way for the patient trader to enter in with longer term market movements. As price rallies to the 61.8% mark, we may wait to use a cross on the CCI (Commodity Channel Index) to execute and enter into our trade. This is unbelievable, as the price was up thousands of points for many weeks already, which is the precise matching with the main Fibonacci levels.



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08.06.2015 | Author: admin



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