Contents Improving your Fibonacci Confluence entries with Support and Resistance Guide to Forex Trading indicators. Fibonacci retracement factsheet Breaking Down The Fibonacci Trading Strategy A basic understanding on what a Fibonacci trading strategy can do When does your Fibonacci Retracement become invalid? You should feel comfortable practicing these strategies on a demo account before trading a live account. Candlestick patterns provide valuable insight into price movement at a glance. They tell the strength of price movement and also foretell future price moves. 22.6%, 38.2%, 50%, 61.8% and 78.6% are the most popular and officially used retracement levels. The second section deals with a range of issues faced by merchants such as goods pricing, profit calculation and currency conversion. If you want to buy near the 50% retracement level, place your stop-loss order right below the 61.8% retracement level to maximise profits and minimise losses. Luckily, you don’t really need to know how to calculate Fibonacci retracement levels. There are many ways to draw them and I can confidently tell you that the majority of what you find online is wrong, sadly. Fibonacci retracement levels are horizontal lines that indicate the possible support and resistance levels where price could potentially reverse direction. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money. Average True RangeAverage True Range helps in identifying how much a currency pair price has fluctuated. This, in turn, helps traders confirm price levels at which they can enter or exit the market and place stop-loss orders according to the market volatility. Improving your Fibonacci Confluence entries … Click here to continue reading…