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3 Mar 2021 06:57:31 UTC
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Best Fibonacci Retracement Trading Strategy | Forex Trading Strategy
Best Fibonacci Retracement Trading Strategy forex
this video is about a strategy that is simple to use and has a very high win rate if used properly.
All the trades which you saw at the start of this video were taken with the same strategy which I am about to show you.
And I personally tested this strategy for around a month from my live account and here is the proof of that.

Candlestick Free PDF - https://forexmonopoly.com/candlesticks-free-pdf/

(You will receive the PDF within 24 hours )

Here is the statement of my account and the trades I took.

00:00 - Introduction to Fibonacci Retracement Strategy
01:41 - Steps of Fibonacci Retracement Strategy
02:06 - Step #1 Fibonacci Retracement Strategy
03:33 - Step #2 Fibonacci Retracement Strategy
05:35 - Step #3 Fibonacci Retracement Strategy
07:45 - Step #4 Fibonacci Retracement Strategy
09:48 - Fibonacci Retracement Trade Examples
17:45 - Take Profit and Stop loss Strategy
21:10 - Fibonacci Retracement Strategy Conclusion



I am gonna breakdown each trade I took in the example section but before that let's jump to the strategy. Here I am going to show you the Fibonacci trading strategy for beginners. Additionally, I am going to talk about how to draw the Fibonacci retracement.
how to draw the Fibonacci retracement in forex is very simple for pro. Please check out Fibonacci trading strategy for beginners. I will also tell you how to draw Fibonacci retracement in forex.


This strategy is gonna need you to have knowledge about certain things like impulse and correction, highs and lows, Fibonacci, etc.
If you are not aware of it, I have added the link to all those videos in the description below. I recommend you to watch those videos first and then come back and watch this one.


There are 4 steps to this strategy.

The first step is, to find the direction of the market.
The second step is to find what the price is trying to do using impulse and correction.
The third step is to draw the Fibonacci retracement

The reason why we are doing this is, that we have to always remember that trend is our friend and we should try not to go against it.
So, if the market is bullish or up trending then we have to keep a bullish bias and look for buying opportunities and if the market is down trending or bearish then we have to look for sell trades.

Any, one would do.
But here is a pro tip, use trendlines for longer trends and highs and lows for shorter or small trends.

Examples of Fibonacci retracement trade

Take a look at examples of Fibonacci retracement trade. Correction is when the price moves sideways very slowly and we get to see mixed candles. how to draw Fibonacci retracement in forex is very easy.

The reason why we are looking for impulse and correction is that, whenever the market is trend
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https://www.youtube.com/watch?v=jOxUoXJiFpg
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