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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