This trading system is based on an indicator that uses fibonacci levels to signal entry and exit of trades , the best time frame is one hour and it can be used on any currency pair .
There are things to consider before trading with this system :
1 - it gives the best signal during the London session and New York session and you should not take its signal at day open
2 - it gives one or two signals per day for a currency pair
3 - its signal is useless at news come out
4 - wait for the other trend indicators to point at the same direction
5 - Put your stop loss 10 pips away from the stop loss defined by the indicator
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There are things to consider before trading with this system :
1 - it gives the best signal during the London session and New York session and you should not take its signal at day open
2 - it gives one or two signals per day for a currency pair
3 - its signal is useless at news come out
4 - wait for the other trend indicators to point at the same direction
5 - Put your stop loss 10 pips away from the stop loss defined by the indicator
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