ThedailyFiboindexis one of the strongestForexindicatorssuitable for trading strategy alone We all know the golden ratio of 61.8% and its strength
But here we will deal more professionally with this wonderful indicator
161.8% the most important levels at all if the price reaches it from both sides we often expect a rebound,
38.2% and 61.8% in the event that the price closes above these levels and a new daily candle is opened, our orders will be buying. As for the daily closing status, the prices below these levels will be our orders and our outlook will be sold.
123.6 becomes strong if the goals of buying or selling are achieved and has achieved 123.6%, and then a complete price reversal has occurred to reach 123.6% from the opposite direction
You need a filter tool, or you might add the indicator to your strategy and give it more power and credibility
