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Written by Administrator
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Monday, 08 February 2010 09:20 |
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Page 1 of 2  EXITWe will use Fibonacci targets in this version. Fibonacci targets are very powerful. We often see that price hits the target and quickly retraces back. MetaTrader 4 setup: Click on the tool Fibonacci Retracement: Place the Fibonacci retracements on the chart as shown below. Connect the swing high with swing low by dragging the mouse  You have to modify the default setup. We will use these targets: 0.0, 1.0, 1.618 and 2.0. Click right and choose Objects List (or use shortcut CTRL+B). 
Select Fibo and click Edit. Edit the targets by double-clicking on the Level and Description values. We will use these Level values: 0, 1, 1.618 and 2. You can choose a description for every level value. We recommend to set something like 0.0 @ %$ as a description. It is a useful trick; the mysterious symbol %$ will be replaced by the price level on the chart (example: 0.0 @ 2.0480). << Start < Prev 1 2 Next > End >> |
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Last Updated on Monday, 08 February 2010 10:13 |
