AUDCHF 5-8-13 analysis example
Today we are going over another trading technique. This is the short term 5-8-13 (fibonnaci) trading. This is an old but good method as well. Bottom line is, when the faster 2 MAs (moving averages) cross the slower line in either direction, you place an order. Exits and SL are up to you with account size, TF you're using and risk you're willing to take... Here is an example (potential) setup. Posting now so you can click later to see if the lines crossed and what sort of gains (or losses) you would expect. Hope you enjoy. The moving average settings are Simple, and median... close is too slow and open is sometimes too early or not great signals.
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