yourself the swing high/low levels as the Fibonacci Golden Zone indicator will do the job for you. . The Golden Zone is represented by the price area between the 38.2 and 61.8 Fibonacci retracement. . Forex traders identify the Fibonacci retracement levels as areas of support and resistance. . A Swing High is a candlestick with at least two lower highs on both the left and right of itself. . You will need to place them on the swing high/swing low. . What if everything is done automatically? . Well, our team at Trading Strategy Guides has developed a proprietary Fibonacci Golden Zone indicator that once placed on the chart it will instantly plot the Fibonacci retracement levels of the last swing. . Fibonacci Golden Zone Strategy Leonardo Pisano developed a simple series of numbers that created ratios describing the natural proportions of things in the universe. . Ex4 Fibonacci Golden Zone.
A quick thing to remember about this: if it is an uptrend you want to start with the swing low and drag your Fibonacci level all the way up to the swing high. . You are going to need to know where to apply these fibs. . If its a downtrend you start with the swing high and drag your cursor all the way down to the swing low. . Now, what if we told you there is a simple way to draw the Fibonacci retracement levels on your price chart. . The bottom line is that many traders use this tool which is why it is highly important to have a trading strategy that uses this. . A Swing Low is a candlestick with at least two higher lows on both the left and right of itself. . Ex4 Fibonacci Golden l Fibonacci Golden Zone manual. Obviously, the 61.8 is the most critical number in our strategy. . Attached : Fibonacci Golden Zone DashBoard. Now that weve learned the importance of the Fibonacci retracement levels and why they work in analyzing the financial market lets have a look at the rules of the Fibonacci Golden Zone Strategy. .