Fibonacci retracements are displayed by fibonacci retracement indicator video forex lessons a tendency line between two extreme points. A long position is taken at 204.
Locking in of profits by moving the stop level up to 204. Or take in your profits at the 38. In my case, I took my profits at 205. The ABCD Retracement is a 4-point price structure where the initial price segment is partially retraced and followed by an equidistant move from the completion of the pullback. It is the basic foundation for all harmonic patterns. To make things easier this indicator implements a twist: it waits for a donchian breakout in the right direction before signaling the trade. The end result is an otherwise repainting indicator with a very reliable trading signal.