Discussion of article "Learn how to design a trading system by Fibonacci"

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New article Learn how to design a trading system by Fibonacci has been published:

In this article, we will continue our series of creating a trading system based on the most popular technical indicator. Here is a new technical tool which is the Fibonacci and we will learn how to design a trading system based on this technical indicator.

In this section, we will identify the Fibonacci Retracement tool and we will learn how we can use it on our chart. The Fibo is a technical tool that can be used to find areas of support or resistance on the chart and we expect a bounce from these areas. It is based on the Fibonacci sequence which is a mathematical series of numbers. each number of this series is the summation of the two previous numbers. we can find it on the chart drawn as horizontal lines at specific levels like 23.6%, 38.2%, 50%, and 61.8% and these levels are the most popular ones.

If you ask yourself how you can find it on the chart the answer will be that all you need to do is to insert it from the available technical tools in the MetaTrader 5 and the following is for steps of that:

While opening the MetaTrader 5 navigate the Insert tab --> Objects --> Fibonacci Retracement

After that, if we have a retracement after the uptrend we draw it from low to high and vice versa, if we have a retracement after the downtrend we draw it from high to low the same as the following examples.

Author: Mohamed Abdelmaaboud

[olaniyitaiye]

You're the best, thanks for sharing this🙏🙏

[Mohamed Abdelmaaboud]

olaniyitaiye #:
You're the best, thanks for sharing this🙏🙏

Thanks for your kind comment.

[BriarK]

this is awesome thankyou so much 

[Cuneyt Ates]

Rene Balke, made fibo ea video one month before this post.

You may watch at : https://youtu.be/QmxlptpUdNE?si=bWiOXuJQjcUFr5QT