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    Thread: [ASK] All about Fibonacci Trading Tools

    1. #1
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      Default [ASK] All about Fibonacci Trading Tools

      I have opened the thread so that anyone who trade with Fibonacci trading tools can share their knowledge.Please share your knowledge it will be very helpful for all and you will gain respect which you can not buy with money.Thank you.


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      I use two fibonacci tools for my trading. The fibonacci extension indicator and the fibonacci retracement indicator. I usually plot first the second tool and wait the price to retrace to a certain level. Then I connect two spots with the extension tool and target a level I want for take profit.


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      Quote Originally Posted by FlyingShark     
      I use two fibonacci tools for my trading. The fibonacci extension indicator and the fibonacci retracement indicator. I usually plot first the second tool and wait the price to retrace to a certain level. Then I connect two spots with the extension tool and target a level I want for take profit.
      Please if you are still around can you kindly post a chart with illustrations showing how you do it?
      Also is your signature correct?If so what system are you using?
      Your quick response will be most appreciated.


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      i use fibonacci levels on my chart cause these levels are very much important they can help us to understand the next reversal trend.but for confirmation we need to use any good indicator like macd or moving average to use the fibonacci levels effectively.


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      The only thing I use Fibonacci for is to determine the support and resistance levels, even at that I usually open or close trade based on the information when there is confluence of indicator giving similar suggestion.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


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      a good indicator for measuring trading volume on a chart is the fibonac i indicator, I use the Fibonacci indicator indeed to measure the volume level every hour. where with the indicator that can measure trading volume we will be facilitated to know the trends that will occur next time.


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      Fibonacci indicators are the easiest indicators for us to analyze the forex market. especially as long as we do forex trading we must be able to make a good trading strategy to produce good analysis and have quality in giving profit every open position that we do. in making money management and technical analysis we must be able to make new strategies in making analysis that in the future will give us an advantage.


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