Trading the forex market with fibonacci numbers is very simple, although it does require certain amount of “perception” to visualize the trends, breakouts, retracements, etc. I found this very good video on youtube that will explain trading with fibonacci levels in a much simpler way. The mechanism is as straight forward in the video as in metatrader 4.
Trading Forex with Fibonacci Lines, Retracement and Profit levels
December 15th, 2007 No Comments
I have always been a fan of simple trading strategies that just work. This, I believe, is the case of trading using the Fibonacci series (which I have used for manual trading for about 2 months). As you may know, the fibonacci sequence is a progression of numbers where each number is the sum of it and the one before, hence 1,2,3,5,8,13, etc. The division between a number of the fibonacci sequence and the number just before approaches the golden ratio as we approach infinity. This sequence and, by consequence, the golden ratio, are found widely throughout nature and… Of course, in the forex and stock market.