moonchild
VIP Contributor
When it comes to forex there are a lot of tools that you can use to simplify it and also make a significant ROI, one of the tools that stuck with me for a very long time is the Fibonacci line, what's amazing with this tool is, it always delivers, it's not a moving average that will slack or print fake signals, Fibo is just a line and if you follow it correctly you'll be able to create a strategy out of it and might be your one Forex secret.
To get Fibo on your MT4 or MT5, go to the tools page and scroll down, you'll see where they write Fibonacci, click it and you'll have it on your tool box.
How to use Fibonacci, first thing first before you can use it you have to identify a trend, you can't use it in a ranging market, it has to be a trending market, with an impulse move and retracement.
Click the Fibo tool from your toolbox and then place your finger on the beginning of the impulse move to the end of it, while doing that make sure you spread your hand across the screen to have a complete view.
If the Fibo is around 32.9 to 61.8 go ahead and place your trade and if it's not, don't place it, that's how you can simply use the Fibo tool.
Share your feedback if you find it useful.
To get Fibo on your MT4 or MT5, go to the tools page and scroll down, you'll see where they write Fibonacci, click it and you'll have it on your tool box.
How to use Fibonacci, first thing first before you can use it you have to identify a trend, you can't use it in a ranging market, it has to be a trending market, with an impulse move and retracement.
Click the Fibo tool from your toolbox and then place your finger on the beginning of the impulse move to the end of it, while doing that make sure you spread your hand across the screen to have a complete view.
If the Fibo is around 32.9 to 61.8 go ahead and place your trade and if it's not, don't place it, that's how you can simply use the Fibo tool.
Share your feedback if you find it useful.
