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Fibonacci trading strategy
Written by Martin Grippen. Visit also my Google plus site ,Facebook site. and my blog about Forex.
Fibonacci trading is a trading strategy traders can use in the Forex market (the money market / the capital market).
The Fibonacci rule is a rule that says if a curve goes from 0 to 100 % and falls to point 61,8% the curve will rise again to 100 % and fall to point 61,8 %. The rise from point C to D is usually the longest rise. If the rise from A to B is 100 % then the rise from C to D is 110 %. The rise from E to F is 100 %.
Fibonacci trading is useful when the currency rate rise and fall. In a Fibonacci trading terminology a rise in the currency rate is called an uptrend and a fall in the currency is called a downtrend.
The Fibonacci trading strategy is useful both when the currency rate is upward and when the currency curve is downward.
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