The grid of Fibonacci is the most frequent tool from an arsenal of Fibonacci.
For installation of Fibonacci grid you should select the insertion menu item - "Fibonacci" - "Lines"
There are two main principles of trade on a grid of Fibonacci - trade during a trend and trade during a Flat.
In case of trade during a Flat, we are interested in internal lines of support resistance first of all.
Our first point is "Zero" - the low point of a flat.
The second point is "One hundred" - is the highest point of a flat.
The red line separated the prices which were not known at the time of creation of the Grid of Fibonachi.
As we see, lines on Fibonachi's grid permanently become nodal points
and powerful lines of support resistance for the whole graphic.
Thus, we can understand better movement of the price and accurately make the decision on an input and an output from the transaction, trading "from level to level".
The other principle of creation of the Grid of Fibo is used during a trend. We take the flat channel, which preceded a trend. And we put on it Fibo's grid.
After that we receive the prices at the levels 161,8 261,8 and 423,6
As a rule, these prices are the target prices and their achievement means fast rollback to the previous prices,
or breakthrough and movement to the following price.
When passing the nodal prices you should track behavior of the price and be ready to close the transaction.
We would like to emphasize that all aforesaid is only introduction, by the general primitive description of the global strategy of Fibonacci. We wanted that you could easily understand the general bases of creation of a grid of Fibo.
If you plan with its help to earn in the market Forex, you need your own researches and finish different strategies to your type of thinking.