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  1. #1
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    Fibonacci Trading System on Weekly chart

    Fibonacci trading system is a very powerful trading system in the history of financial market. I have developed my trading based on this on the weekly chart. It is good for the traders that wants to place a single trade and get multiples of pips in days or weeks. It is very good for position traders that are very conservative. This trading system is good for all trading pairs depending on your choice.

    Now, there are four lines that traders look on this trading system, they are; 23.6, 38.2, 50.0 and 61.8. All the lines are very powerful to give the trader support and resistance, but 38.2, 50.0 and 61.8 are the most effective ones that hardly fails.

    Attachment 3077

    Looking at the above, when USDJPY meet the point at 23.6, It was unable to break it to the downside, and have being moving to the upside this week. This is still valid for my USDJPY trading analysis that the bias is to the upside. And the target will be 103.73(This year high).

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  2. #431
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    It is really best for trader to trade with the use of support and resistance strategies and if we are following with Fibonacci this will give trader good results and our trading it will give trader opportunity it is always positive for trader because this will give trader good opportunity to make our successful plan with it .

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  3. #432
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    Quote Originally Posted by learner View Post
    It is really best for trader to trade with the use of support and resistance strategies and if we are following with Fibonacci this will give trader good results and our trading it will give trader opportunity it is always positive for trader because this will give trader good opportunity to make our successful plan with it .
    There is nothing bad in trading the support and resistance strategy, this is the best strategy i have ever seen in the market. To trade the support and resistance strategies requires that the trader is sure of how he is going to trade it. Choosing the good strategy for it will help the trader so well, and the trading of Fibonacci strategy will help us so much.

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  4. #433
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    I agree with you and i also like to work with technical of the market and with trading by using support and resistance will give me the best opportunity always to trade safely , working about market and with the best condition will give good opportunity to trade and in results i will make good profits from market .

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  5. #434
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    Quote Originally Posted by tejaravi View Post
    I agree with you and i also like to work with technical of the market and with trading by using support and resistance will give me the best opportunity always to trade safely , working about market and with the best condition will give good opportunity to trade and in results i will make good profits from market .
    There is nothing bad with the use of the technical strategies, that is what i use mostly and it is the best among all traders as well. All i know is that when we want to trade the market, we should be fully ready for it. We should be ready for the market mainly with our trading system and i like to trade strategies like the Fibonacci.

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  6. #435
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    Quote Originally Posted by ajagbeolegba View Post
    There is nothing bad with the use of the technical strategies, that is what i use mostly and it is the best among all traders as well. All i know is that when we want to trade the market, we should be fully ready for it. We should be ready for the market mainly with our trading system and i like to trade strategies like the Fibonacci.
    I love to use the technical analysis better than other means of trading the market. I know that with the technical analysis i will be able to trade and get to make much money and will know how to retrace my steps back to how i got to make that money. It is not same thing with the fundamental analysis, traders are only making their regular losses on fundamental analysis.

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  7. #436
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    Quote Originally Posted by ajagbeolegba View Post
    There is nothing bad with the use of the technical strategies, that is what i use mostly and it is the best among all traders as well. All i know is that when we want to trade the market, we should be fully ready for it. We should be ready for the market mainly with our trading system and i like to trade strategies like the Fibonacci.
    It can never be a bad idea for forex traders to use the technical strategies, that is the best forex method who i know. We can get to do our trading correctly if we are the kind of forex traders who use the strong support and resistance strategies too. Like this Fibonacci on this article, it is what i support for trading if the forex traders could learn it and make sure they use it correctly.

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  8. #437
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    Quote Originally Posted by ajagbeolegba View Post
    There is nothing bad with the use of the technical strategies, that is what i use mostly and it is the best among all traders as well. All i know is that when we want to trade the market, we should be fully ready for it. We should be ready for the market mainly with our trading system and i like to trade strategies like the Fibonacci.
    There are so many people who have been able to make money using just the technical trading strategy because it works and whenever we desires to make things start working using these trading systems and strategies then we should always learn how they work and master them over time through practicing on the demo trading accounts with them. Most of us thinks there is an easy way of making money without first making sure that we have developed enough trading skills, knowledge and experience which shall become your real source of mastering the forex market.

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  9. #438
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    Quote Originally Posted by ola4real View Post
    It can never be a bad idea for forex traders to use the technical strategies, that is the best forex method who i know. We can get to do our trading correctly if we are the kind of forex traders who use the strong support and resistance strategies too. Like this Fibonacci on this article, it is what i support for trading if the forex traders could learn it and make sure they use it correctly.
    Never, the traders of the technical analysis are the best, it can never be a bad idea to trade in that way. I have realized that the success in the market is very crucial to all of us, and we will only get to make this success when we are trading with some key trading charts analysis. The macro economic analysis is a good one as well, it depends on us.

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  10. #439
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    Quote Originally Posted by ola4real View Post
    It can never be a bad idea for forex traders to use the technical strategies, that is the best forex method who i know. We can get to do our trading correctly if we are the kind of forex traders who use the strong support and resistance strategies too. Like this Fibonacci on this article, it is what i support for trading if the forex traders could learn it and make sure they use it correctly.
    We can get to trade the market with the necessary success, we can get to trade the market patiently also, that is important to our success. The traders that will get to be trading with Fibonacci trading system will get to make it big in the market, they will lose little and everything will be working fine for the trader. We only need to work good management on it.

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  11. #440
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    Quote Originally Posted by Toyen View Post
    , we can get to trade the market patiently also, that is important to our success.
    Patience is one of the key things we need to become successful forex traders because it gives you the mindset to wait until you have been able to master the field of forex market before you starts to invest your real hard earned money into trading the forex market, and it takes this great quality to wait for the price to come to you before you execute your trades and you are never in a hurry to start trading because then only push you into making useless trades which are capable of leading you into losses most times.

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