Fibonacci is the best tool to find out the exact place of resistance and support level of every pattern. Fibonacci has its own pattern like ABCD, gartaley, 3 dive and many more. Each has a target profit and target SL. But with Fibonacci we can ind the exact limit. It would be better to try to learn about Fibonacci on Youtube.
With the fibonacci tools that can be found in our platform, there also had other indicator that can providing automatically fibonacci on your chart. Using the fibonacci tools can helping you to determine the support and resistance area and enter and exist of your trade. Not only using the fibonacci tools pivot point also can helping you to determine the support and resistance area. There are more kind of tools or indicator that can helping you define the support and resistance.
Indeed fibonacci is one of the most accurate technical indicators that is available to forex traders on the trading platform. With fibonacci indicator a forex trader can easily identify support and resistance points and also to get accurate entry signals at reversal points.
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Fibonacci is among the wildly used indicator in the forex community,fibonacci is created by placing two extrem levels,its normally the previous high and lows of the chart,it might be on a hour chart,weekly chart and daily chart.fibonacci levels are used to identify key price levels.and fibonacci are mostly used by long term traders.
in addition you can also specify a retracement or reversal price pattern by drawing a Fibonacci retracement from the highest point of the swing high and swing low lowest point that will form some fibonacci retracement level which is the reference point of the price will turn the main trend.Originally Posted by fxhimel
Fibonacci is among the wildly used indicator in the forex community,fibonacci is created by placing two extrem levels,its normally the previous high and lows of the chart,it might be on a hour chart,weekly chart and daily chart.fibonacci levels are used to identify key price levels.and fibonacci are mostly used by long term traders
Forex Fibonacci technique is a simple and useful tool that will help you to calculate Fibonacci extension and retracement levels for the market price. You will be able to anticipate market price moves and plan future trades according to the calculated results. Note, that calculation formulas will differ for uptrend and downtrend moves, therefore use appropriate formula for input price values depends on trend.
this is the most well known math tools ever known as the function of the math tool and the tool helps to be add gradually through the function. therefore give the ultimate well come money to every time I do the post.
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Fibonacci is very important indicator through which we can able to understand better forex market. I am using Fibonacci Retrenchment through which it is more easier to understand better support and resistant level. I think all the indicators can play very effective role if we are able to understand the hidden language of those indicators.
Technique Forex Fibonacci entrancement level of the market price to calculate the Fibonacci extension and a simple and useful tool that will help. You anticipate market moves and the calculated results to plan future work. Therefore, depending on the trend of the calculation formula of the input value using the appropriate formula, Uptrend and downtrend moves will differ.
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