Reef newbie

Hello everyone,
I'm new to this hobby and would love to get some expert advice from you guys. So I'm starting a new reef tank. Currently I have 55 gallon hexagonal tank. 2ft x 2ft x 2ft. The issue I'm having is choosing the proper lighting setup of this type of tank. So here's the criteria that I would like to abide by:
1) Reef Tank with Soft Corals, LPS Corals and Live Rock. (SPS is possible)
2) Price to be ideally less than $200
3) must fit in the aquarium hood which is approximately the same L xW as the tank. (Hanging the lights isn't an option).

I'd appreciate any advice that can be given. If there is any other information I'm missing out please let me know. Thanks!!!

 

What type of hood do you have? A picture may help. For a reef tank, Lighting is one of the most important things for corals since a very good portion of them are photosynthetic. I have no personal experience with these but i know other people have but reefbreeders has some pretty decent LED fixtures that will probably fit in your hood. There is also a good thread in the DIY forum about building your own LED system. If you are able to go that route, that is where you will get the most bang for your buck.