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85# Fibonacci Box Breakout

Fibonacci trading

Fibonacci levels box breakout

Submit by Andrey

Fibonacci Box Breakout is an intraday breakout trading strategy based on a box that is formed from 6:00 am to 9:00 am GMT London. Associated with Fibonacci Box there are 3 levels higher than the Fib Box and three levels lower than the Fibo Box.

So we have a Fibo breakout box with levels. The way to use the box is on the one hand the classic breakout to the violation of the upper and lower levels plus a buffer then you can also use the levels as a counter brekout but this is an optional operation in addition.

 

This additional operation makes the hybrid system a breakout reversal grid.

Time Frame 15 min

Currency pair: minor, major, indices and commodities.

 

Metatrader 4 Indicator

Fibo Box V.2.01

 

Trading rules Fibonacci Box Breakout

Buy

Place a pending order 2 pips above the top edge of the box.

Initial stop loss you can opt for two choices: the first at the lower box level the second in relation to the type of currency for example EUR / USD 15 pips, GBP / USD 20 pips, AUD / USD 14 pips, AUD / JPY 14 pips etc.

Profits can be split on the levels associated with the box. Or aggressively go out on the first level.

 

Optional

If the price has gone below level two or three then the previous breakout down has been successful you can place an pending buy reversal order on level 2 with profit at level 1 and the bottom margin of the box.

 

Sell

Place a pending order 2 pips below the bottom edge of the box.

Initial stop loss you can opt for two choices: the first at the upper box level the second in relation to the type of currency for example EUR / USD 15 pips, GBP / USD 20 pips, AUD / USD 14 pips, AUD / JPY 14 pips etc.

Profits can be split on the levels associated with the box. Or aggressively go out on the first level.

 

Optional

If the price has gone above level two or three then the previous breakout upword has been successful you can place an pending order sell reversal on level 2 with profit at level 1 and the top margin of the box.

 

Note

 

After two consecutive spins on a currency pair do not open more positions but this is optional.

In the pictures Fibonacci Box Breakout in action.

Fibonacci Box Breakout
Fibonacci Box Breakout
Fibonacci Box Breakout
Fibonacci Box Breakout
Fibonacci Box Breakout
Fibonacci Box Breakout
Fibonacci Box Breakout
Fibonacci Box Breakout

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