markyoung

Watching GBPUSD's well-behaved Fibonacci retracements

FX:GBPUSD   Britisches Pfund / US-Dollar
A simple rolling Fibonacci pattern redrawn every time a bar closes beyond the green line (-23.6%) or red line (61.8%) retracements.

Potential trend-following entries would be at the 50% line, counter trend at the -23.6% or 0%, with oversold/overbought confirmation from the RSI

This Fib pattern is calculated on 120 minute bars and overlaid on a 15 minute chart. The same patterns show up on every time frame from minutes to monthly, as is the nature of fibs.
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