Trading Strategy with Fibonacci and TrendLine

Trading Strategy with Fibonacci and TrendLine:

Trading Tools for the Fibonacci Trend Line Strategy

1.Fibonacci Retracement

2.Trend Line

 

This trading strategy can be used with any Market (Forex, Stocks, Options, Futures). In our example we are going to be using Forex currency trading.
This strategy work on any timeframe like D1,H4,H1 even M15.
Because of it is trend trading strategy that will take advantage of retracement of the current trend.

Start our strategy description for our clear concept:

Step1:Find a Trending currency Pair

Uptrend Market

Step2:Draw a Trend Line

Drawing Trend Line

Step3:Draw Fibonacci From Swing low to Swing High although the Market is trending Up.

Drawing Fibo


Step 4:Wait for Price level to Hit Trend Line

Wait for market Retracement[/caption]

Step5:Price Must hit trend line in between 38.2% and 61.8% fibo lines.

Step6: Entry Point

Entry Point

Step 7: Stop Loss Placement

Stop Loss

Result;

For more details about this strategy


 

 

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