Fibonacci grid on binary options
Here is some explanation as to what the objects mean on the indicator. The grid is a 2D representation of each time frame chart laid side by side.
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- Fibonacci Grid Trading
- This tool is one based on thousands of years of mathematical observations originating in ancient Indian mathematics.
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Each box dark green, light green, dark red or red represents a leading moving average 13 SMA - light green or light red and the 21 SMA as red and dark red the SMA is colored as a black box. As price crosses the moving averages it crosses the grid boxes and they are either green if price is above the MA or red if price is below the MA.
As price moves either up or down and is trending it will cross the shaded blue or orange areas marked by the dark black numbers, if the time frame is trending up it will go into the blue zones or down into the orange zones, this makes it easy to tell what the market is doing on each time frame.
Daily fibonacci pivots are added as well but these can be changed according to your trading plan.
Trading with Fibonacci Retracements Tool - Binary Option Sheriff
Taking trades is pretty straightforward, shaded areas that line up across each time frame fibonacci grid on binary options the areas of value. As the shaded areas are darker and more time frames are lined up the stronger the level and more likely price will reverse.
Exiting trades are up to your account size and trading plan, normally I exit at the 15 minute MA, or daily pivot. The interesting thing about the grid is there is no one way of trading it.
Hey, looks interesting.