Learn about the Best forex box fibo breakout intraday trading indicator that sets period begin and end to draw the rectangle fibonacci box. Use it from 15 minutes chart up to 1 hour for any currency pair but avoid trading during news release time. Buy when the price closes above the rectangle box and set stop-loss low line of rectangle box. Sell when the price closes below the rectangle box and set stop-loss upper line of rectangle box. Trade in the direction of overall trend and avoid trading sideway price movement. Get the free download link in the video description and like and share the video if you find it helpful.

Best Forex Box Fibo Breakout Intraday Trading Indicator

Introduction

In the world of forex trading, being able to identify price breakouts promptly is the key to success. The best way to achieve that is to use an intraday breakout trading strategy such as the Fibonacci box breakout trading strategy. In this article, we are going to look at the Best Forex Box Fibo Breakout Intraday Trading Indicator that can help you achieve this strategy with ease.

Overview of Fibonacci Box Breakout Trading Strategy

The Fibonacci box breakout trading strategy is built to help traders trade price breakouts in the forex market. The strategy uses three levels higher than the fibo box and three levels lower than the fibo box to create a fibo breakout box with levels. The strategy is also equipped with a Fibonacci level for entry points and take profits.

Trading Rules

The trading rules for the Fibonacci box breakout trading strategy are straightforward. Here are the rules:

Buy Trade: The price closes above the rectangle box. Set stop loss low line of rectangle box.

Sell Trade: The price closes below the rectangle box. Set stop loss upper line of rectangle box.

Trade in the direction of the overall trend. Avoid trading sideways price movement.

Trading Setup Examples

Let’s take a look at some examples of the Fibonacci box breakout trading strategy. Remember, the strategy is most effective when used from the 15 minutes chart up to the 1hour with any currency pair. Also, avoid trading during news release time.

Perfect Sell Trade Setup

In this example, the price closes below the rectangle box, and the trader sets the stop loss at the upper line of the rectangle box, and the price reaches the third take profit line. This is a perfect sell trade setup.

Winning Trade

In this example, the price closes below the rectangle box, and the trader sets the stop loss at the upper line of the rectangle box. The trader wins the trade.

Sideway Trade

In this example, the price moves sideways, and the trader immediately closes the trade. The trader should always avoid trading during sideways price movement.

Setup in the Direction of the Overall Trend

In this example, the trader sets up the trade in the direction of the overall trend, and the example of a sideway trade.

Conclusion

The Fibonacci box breakout trading strategy is an effective intraday breakout trading strategy in the forex market. The best way to achieve success with this strategy is to use the Best Forex Box Fibo Breakout Intraday Trading Indicator. The trading rules for the strategy are straightforward, but traders should always avoid trading during news release time and sideways price movement.

If you want to try this strategy, you can download the free indicator through the link provided in the video description. Remember to like and share this article if you find it helpful. Happy trading, and see you again in the next video!