8# Fibonacci Fan Trading System
Fibonacci Trading System
Submit by joy22
Time Frame H1 or higher.
Pairs:all.
This trading system is based on the “Fibonacci Fan” to identify
trades that have a relatively small target.
The “Fibonacci Fan” produces 3 lines set at the main Fibonacci retracement numbers, 38.2%, 50.0%, and 61.8%.More often than not the main support line on the “Fibonacci Fan” is the 61.8%. Knowing this fact opens the door to our trading system.
When the price breaks the 38.2% line we can assume that it`s at least going to the 61.8% line. This is a small target but it is achieved with regularity.
In the pictures Fibonacci Fan forex system in action.
On this example we can see entry point for a long
trade, and the price dropping a little before moving up to the
61.8% target line. This time the price did not retrace at the
61.8% line and carried on upwards.
The example clearly shows the entry point and the
target. The price did find resistance around the 61.8% line
before moving upwards.
Place Stop loss10 pips above the high or below the low of the breaks bar.
Trading System Autofibonacci Fan
Share your opinion, can help everyone to understand the forex strategy.
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Write a comment
Morris (Monday, 01 May 2017 08:30)
Hello, where is the Fibonacci fan in your indicators. The indicators you uploaded are totally different.
Vinetum (Friday, 18 May 2018 16:56)
Thank you for for strategy Fibonacci Fan.
vinetum (Friday, 18 May 2018 19:49)
To joy 22,
Could you give us a strategy with the AutoFibonacci Fan.
Thanks for the indicator.
stan (Tuesday, 06 August 2019 11:53)
not bad, I'm going to try it