Analyze this
(backtest for yourself and see it working)
Daily Classic Fibonacci Strategy
Resumes to apply Fibonacci classic on every previous-day data
- one trade daily;
- use H1 chart;
- EUR/USD predilection;
Rules:
1. after reaching the yesterday's top (100.0) the rate should have hit the 50.0 level;
2. the next day, should have a close above 61.8;
3. wait to drop again to 61.8 and Enter;
4. TP at 123.6 (2 x 61.8, RR1:1);
5. SL at 0.00;
If the conditions are not fulfilled, do not trade.
see the 28th July example and sketch
(backtest for yourself and see it working)
Daily Classic Fibonacci Strategy
Resumes to apply Fibonacci classic on every previous-day data
- one trade daily;
- use H1 chart;
- EUR/USD predilection;
Rules:
1. after reaching the yesterday's top (100.0) the rate should have hit the 50.0 level;
2. the next day, should have a close above 61.8;
3. wait to drop again to 61.8 and Enter;
4. TP at 123.6 (2 x 61.8, RR1:1);
5. SL at 0.00;
If the conditions are not fulfilled, do not trade.
see the 28th July example and sketch
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