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Random article: Forex Bounce Strategy or SMA89 Break
Moving Averages as a lagging indicator, confirming trend rather than anticipating it, is considered less reliable by many. But, combining Moving Averages with Fibonacci number, and following price action around it, can give quite a powerful signal. In this case, a Simple Moving Averages on Close price, combined with Fibonacci number (89) as it period. In short, price can either “break through” SMA89 or “bounce back” from it. But then, as can be seen in the following picture, there are many breaks as well as bounces; and not all of them are valid signals which shows profitable opportunities.
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Popular article: Fibonacci Forex Channel. Fibonacci in forex
Fibonacci Channel represents a sort of Fibonacci Retracement, but this time all trend lines are drawn diagonally and not horizontally. Drawn channels can serve as supportive or resistance lines. Fibonacci Channel is built with a common method: the line is put through trend's High and Low, this line composes entire width of channel and its value is taken as equal to one. Further, parallel lines are drawn through obtained channels through the levels 23,6%, 38,2%, 50%, 61,8%, 76,4%, 100%, 161,8%, 261,8%, 423,6%. It is assumed that resulting lines can serve as support or resistance lines as well as pivot or correction points of a trend.
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