Forex Strategies Resources

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.

Share your opinion, can help everyone to understand the forex strategy.

Write a comment

Comments: 0

  • loading

Retracement Forex Strategies

Fibonacci Forex Strategies