About Fibonacci Retracement
Fibonacci Retracement is a form of technical analysis used to locate points of support, resistance and pivots.
In many cases, Fibonacci lines are self-fulfilling prophecies, this is because many traders set stop loss and take profit targets in accordance with indications of price action provided by Fibonacci lines. Due to the abundance of trader activity associated with Fibonacci Lines, the market will, in most cases, undergo pivot-like behaviour around Fibonacci l
The EA was developed to trade along side the market and build capital over time.
This EA is a conservative, mid-long term use EA with a minimum required starting capital of (£/$)10 000.00.
Run this EA with the recommended broker (5 digits, no greater than 0.01 min lots, competitive spreads, please contact me/see Comments for more details) and with leverage set at 50:1.
Lot sizes are dynamic with an overall increase in Lot size as capital increases.
When backtesting this EA, please ensure tha