Use This Expert Advisor to Trade a Fibonacci Forex Strategy
Link to download EA: https://forexjames.com/fibonacci-retracement-forex/
The fibonacci sequence that occurs in nature is believed to be present in the markets as well. For years, fibonacci forex trading strategies have played a big part in our trading systems and can be a very useful tool for traders.
The 38.2 and 61.8 levels are often used to calculate the entry points for trend pullbacks and the 161.8 level is used for exit points.
Drawing fibs can be a subjective matter and there isn’t a right or wrong way of doing it. Some use the candle bodies’ as points while others use the wicks. The feeds of various brokers also vary, so no two traders looking at the same chart should have identical fibs drawn.
We’ve programmed the EA to enter on the pullback level of your choice but you’re still required to draw the fibs manually. Once you’ve identified two swing points, the EA would look for a BUY or SELL trade, depending on your selection and enters on a trigger which we’ve placed. It does the lot calculation according to your risk input and places the SL and TP automatically.
Learn how you can use and leverage this EA to help execute your fib pullback trades!
Get the EA (Expert Advisor) on my website for free!
00:00 - Fibonacci trading strategy
01:32 - Fibs extension and retracement
02:35 - Price structure
06:33 - Other EAs you can download
07:35 - EA settings
10:44 - Strategy tester
#fibonacciforextrading
#fibonacciforexindicator
#fibonacciforexea
#forexfibonacciextension
#fibonacciforexexplained
#fibonacciforexstrategy
Subscribe to Our Channel
Youtube: https://www.youtube.com/c/ForexJames
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
Video URL: https://youtu.be/JUsvXfXn-0U
The fibonacci sequence that occurs in nature is believed to be present in the markets as well. For years, fibonacci forex trading strategies have played a big part in our trading systems and can be a very useful tool for traders.
The 38.2 and 61.8 levels are often used to calculate the entry points for trend pullbacks and the 161.8 level is used for exit points.
Drawing fibs can be a subjective matter and there isn’t a right or wrong way of doing it. Some use the candle bodies’ as points while others use the wicks. The feeds of various brokers also vary, so no two traders looking at the same chart should have identical fibs drawn.
We’ve programmed the EA to enter on the pullback level of your choice but you’re still required to draw the fibs manually. Once you’ve identified two swing points, the EA would look for a BUY or SELL trade, depending on your selection and enters on a trigger which we’ve placed. It does the lot calculation according to your risk input and places the SL and TP automatically.
Learn how you can use and leverage this EA to help execute your fib pullback trades!
Get the EA (Expert Advisor) on my website for free!
00:00 - Fibonacci trading strategy
01:32 - Fibs extension and retracement
02:35 - Price structure
06:33 - Other EAs you can download
07:35 - EA settings
10:44 - Strategy tester
#fibonacciforextrading
#fibonacciforexindicator
#fibonacciforexea
#forexfibonacciextension
#fibonacciforexexplained
#fibonacciforexstrategy
Subscribe to Our Channel
Youtube: https://www.youtube.com/c/ForexJames
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
Video URL: https://youtu.be/JUsvXfXn-0U
