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Fibonacci Forex Trading indicator Free Download
Fibonacci Forex indicator refers to areas of support and resistance level. support and resistance are very powerful analysis to identify price reversal. Therefore Autofibonacci Forex indicator better tool to enter your trade. Auto Fibonacci gives us to three Take profit levels. Which are 161.8%, 261.8%, 361.8%. Fibonacci is drawn within higher & lower points of the last wave. Then, it will forecast future predictions. There are three areas. That is more powerful for price corrections. So, we must wait until the price will break out the 100% Forex Fibonacci line. 38.2%, 50%, 61.8% are very powerful areas. In that area, the price may be reversed. Anyway, we are not entering trades on those levels.
How to trade with this Fibonacci Forex indicator.
Once you download & install this forex indicator, don’t try to trade with it alone. Any technical indicators, it can’t issue a powerful entry confirmation itself. So, try to combine your other analysis. What are the powerful indicators you can use? Moving Average, forex Support & Resistance indicator, Trend lines, Elliott Wave, Relative Strength Index (RSI), Commodity Channel Index (CCI), Average Directional Index (ADX). If the trend is up Auto Fibonacci indicator shown in green color. If the trend is down auto Fibonacci indicator will display in red color.
When you entered a forex trade you will get three take profit levels. If you want you can exit with first take profit level. Otherwise, once trade hit first take profit level, then you can move your stop loss for an entry point. If trade will hit second take profit level, then you can move your stop loss for first take profit level. If your trade will becoming to profit as long as, you can move your stop loss & you can get more profit pips. More time you can trade forex safely.
Sell forex trade
Auto Fibonacci is Red
Price cross out Breakout line
Buy forex trade
Auto Fibonacci is Green
Price cross out Breakout line
Take Profit-
Set TP.-161.8% ,261.8%,361.8%
Stop loss-
SL. is 61.8%
Exness