8# Fibonacci Fan Trading System
Fibonacci Trading System
Submit by joy22
Time Frame H1 or higher.
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
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Fibonacci Forex Strategies
Retracement Forex Strategies