Fibonacci ABCD Pattern Forex Support and Resistance Strategy
Table of Contents
This strategy uses 1 hour and higher timeframe. It is applicable to any currency pairs.
This is the formula:
Target point D (profit Objective) and retracement point C cab be calculated by measuring the number of pips From poin A to point B and multiplyng by the factors below.
- For Fibonacci Retracement, left click on point A, drag the line to point B, then release the mouse.
- For Extension left click on point B, hold and drag the line, to point A and release.
Commonly, 61%8 retracement go to least the 161,8% projection. Sometimes The 100% ,200% amd 261% extension come into play.
Money has been made using ABCD also called 1234 pattern using to enter and extension to exit.
Enter near point C exit at point D.
Attached are the following:
- XLS file for to calculate Fibonacci Extension
- spudofibo metatrader indicator
- 123 pattern
Forex Trading Strategies Installation Instructions
Fibonacci ABCD Pattern Forex Support and Resistance Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
Fibonacci ABCD Pattern Forex Support and Resistance Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
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How to install Fibonacci ABCD Pattern Forex Support and Resistance Strategy?
- Download Fibonacci ABCD Pattern Forex Support and Resistance Strategy.zip
- *Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select Fibonacci ABCD Pattern Forex Support and Resistance Strategy
- You will see Fibonacci ABCD Pattern Forex Support and Resistance Strategy is available on your Chart
*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.
Click here below to download: