HOW TO TRADE FOREX WITH FIBONACCI BOLLINGER BAND TECHNICAL INDICATOR

Fibonacci Bollinger Bands is the application of Bollinger Band and Fibanacci Ratios together.A Fibonacci Bollinger Band marks the resistance and support levels. The image below illustrates the Fibonacci Bollinger Band.

In a Fibonacci Bollinger Band, there are 3 upper bands, 3 lower bands and one middle band. The outer most bands indicate the strongest support/resistance. The inner most bands indicate least support/resistance. 

The inner most band represents 38.2% Fibonacci retracement level and the second band represents Fibonacci 50 % retracement level. The outermost band represents Fibonacci 61.8 % retracement level.

The trading technique with this indicator is very simple. The traders should go long when the the price reaches a support levels, and go short when the price reaches resistance levels.

Dear traders, If you have any trading techniques with this indicator, please share with us in the comment section below. It may be included in the post. You can mention me on twitter @albab247.