The new Auto Fibs for TradeStation and Multicharts are nailing it on the currency markets across the board.

Auto Fibs on Currencies

The white line on the GBPUSD, EURJPY and EURUSD is the 38.2 Fibonacci Retracement line. Notice that each currency retraced to this area and then formed bearish bars. This indicates a potential move back down and provide a great low risk entry into the trend.

Auto Fibs on Currencies

On the USDJPY 15-minute chart, price retraced up to the 50% Fibonacci line and immediately formed a bearish candlestick pattern to the short side.

USDJPY 50% Fibonacci Retracement as shown on the Auto Fibs

Currently, the Auto Fibs are only available for Multicharts and Tradestation for intraday, daily and weekly charts. I will be adding TradingView indicators in the very near future, which will be available via subscription only.