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Thread: How trend line and fibonacci work

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    Banned oreoluwa is on a distinguished road oreoluwa's Avatar
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    alright i really understand more about the best way to trade with the trend and Fibonacci because as for me i do make use of the Fibonacci as a form of support and resistance thats the very best way i can trade and earn more

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    Senior Member prityzinta is an unknown quantity at this point prityzinta's Avatar
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    I understand the price returns to 38.2% in May and can continue, or 61.8%, until 100% retracement. So, these will be held at 38.2% and 61.8% of the indicators of the importance of the market have support or resistance at these levels.

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    This is the update of morning's trade.i opened order @ 1.6012 and i closed the order @ 1.6122.110 pips in a day.I think @ 61.8 fibo level we can expect a little downside movement bt im not going to trade there

    Hope u can have a idea about trendlines and fibos[COLOR="Silver"]

    ---------- Post added at 12:45 PM ---------- Previous post was at 12:44 PM ----------

    Quote Originally Posted by 4daniel View Post
    To my understanding,the price action will retrace itself and the retracement might continue till 38.2% or 61.8% or it can be even 100%. So, these ratios 38.2% and 61.8% are considered to be important as the market might find support or resistance at these levels.
    ---------- Post added 01-11-2013 at 12:44 PM ---------- Previous post was 01-10-2013 at 10:26 PM ----------


    Another example
    This is EUR/CAD 4h chart
    U can see nearly 100pips upside movement after hit the trend line and from 23.6 fibo line we can see downside moment.it means 23.6 acts as a resistance.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Senior Member 4daniel is an unknown quantity at this point 4daniel's Avatar
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    To my understanding,the price action will retrace itself and the retracement might continue till 38.2% or 61.8% or it can be even 100%. So, these ratios 38.2% and 61.8% are considered to be important as the market might find support or resistance at these levels.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    How trend line and fibonacci work



    In this picture u can see GBP/USD 4h chart

    In 1.6002 there is a 100% Fibonacci level and long term up trend line.this will act as good resistance or this is a good place to buy.target should be around 61.8 fibo level.sl should be 1.5965

    Hope u can have a idea about how trendlines and fibo work

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    andya andry (2013-08-25)

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