What is Fibonacci Indicator Forex Trading Strategy?

Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Fibonacci Indicator Forex Trading Strategy” One of the most famous and popular forex trading strategies is Fibonacci, named after the famous Italian mathematician. Considered as a medium-long term trading strategy, we use it to follow repeating support and resistance levels. History shows that the market moves in waves and Fibonacci takes advantage of this fact. Fibonacci ratios can help us identify potential resistance and support levels on the financial charts. The most common ratios are 61.8%, 50% and 31.8%. The Fibonacci numbers and ratios have been famous among mathematicians and artists for hundreds of years. They represent many things in nature and in financial markets and can be used as great analytical tools. No math is required to use these numbers as the trading platforms do all the calculations for us. All that we must do is make a decision based on these lines which appear on the graph. The ‘Fibonacci indicator’ Forex trading strategy is one of the most well-known and commonly used long term Forex trading strategies. This method relies on what is called a ‘Pullback’ and to fully understand how it works we must discuss the more fundamental concept ‘the trend’. When we look at each price change individually it is very hard to explain them and find a pattern as there are so many of them. Looking at the bigger picture allows us to see trends on a larger scale. By Barry Norman, Investors Trading Academy - ITA

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