Envelopes Fibonacci Trading is one the best trading system and strategy based on the envelopes, momentum and strength indicators.
I am very happy to share this system.
This forex strategy is for the expert traders.
- Time Frames: M15, M30, H1, H4, or higher
- Currency Pairs: EURUSD, GBPUSD, USDJPY, and USDCAD
- Money Flow Index
- Relative Strength Index
- William’s Percent Range
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- Use a demo account or a small live account first to practice this trading system
- Money Flow Index above (MFI) 50
- Relative Strength Index above (RSI) 50
- William’s Percent Range above (WPR) -50
- WPR > MFI > RSI
- Money Flow Index (MFI) below 50
- Relative Strength Index (RSI) below 50
- William’s Percent Range (WPR) below -50
- WPR < MFI < RSI
- This strategy is very simple and effective
- Envelope lines are the best TP area
- Place the initial Stop Loss at the previous swing high (for SELL) or swing low (for BUY)