UPDATED ON 21-MAY-2012:
MACFibo trading strategy was the winner of March’s Best Forex Trading System Contest at babypips.com. This trading system uses 3 moving averages to determine trade opportunities and Fibonacci extensions to determine stoploss and profit targets.
Exit mechanism for losing trades, if stoploss yet to hit: if 5EMA cross 8SMA in direction opposite of your open trade.
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