Analysis

Sunday, January 17, 2010

Live trading with Online Fibonacci Calculator


A lot of traders consider Fibonacci levels is one of the most powerful trading methods, and they pay a lot of attention to Fibonacci numbers and use it for chart pattern trading.

Lately I start to use an online Fibonacci calculatore that gave me a very accurate numbers to recognize charts pattern, here I'll walk step by step for this trade.

First of all you search for a trend with two bull back waves like the one in the first image, like you see it's bullish trend followed by a bullback.


Our target here is to get point (D), getting this level will help too much in the trade, so we submit the wave value to the Fibonacci calculator, lowest point as X, then highest point as A, and the same way we submit (B) and (C), then click "Get Levels" button.


In this trade we got 5 levels, and the reversal point was in the third level, and I got the accurate number for the trade. Check the tool and make your testing with accurate Fibonacci calculator

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