Hi guys, I wish to present a very simple system utilizing the fibonacchi fan tool.
You can use this with any timeframe I favor 4 hours.
Find 2 points of support/resistance.
Lets utilize bullish example. This would mean that we must loe 2 resistance points.
Position first point of this fibo enthusiast on the first resistance and the second point of this fibo enthusiast on the second resistance point.
Put the fibo enthusiast so the lowest line of the enthusiast becomes the downward trendline on these 2 resistance points(lower highs).
The lowest point is also 38.2 fib line.
One time a candle closes over this minimal line of this fibo fann proceed long. Your goal is 68.2 fib line that's the maximum fib fann line.
Sl ought to at least equivalent tp.
You can use different trade management now.
One choice is to take two transactions, first 1 tp at 68.2 second you draw to breakeven and trail.
https://www.cliqforex.com/attachment...1296447861.jpg
