hello traders , today i'll talk abouut my favourite tools
the Fibonacci retracement tool is extremely useful and it help us to find the strong resistance and support area ( 0.618) .
How to use it :
Drawing Fibonacci retracement levels is a simple three-step process :
In an uptrend:
Step 1 – Identify the direction of the market: uptrend
Step 2 – Attach the Fibonacci retracement tool on the bottom and drag it to the right, all the way to the top
Step 3 – Monitor the three potential support levels: 0.236, 0.382 and 0.618
In a downtrend:
Step 1 - Identify the direction of the market: downtrend
Step 2 -Attach the Fibonacci retracement tool on the top and drag it to the right, all the way to the bottom
Step 3 Monitor the three potential resistance levels: 0.236, 0.382 and 0.618
In the next post, I will explain more about The golden ratio and how to use it in entering and exit .
for more educational ideas , signals and analysis follow us .
the Fibonacci retracement tool is extremely useful and it help us to find the strong resistance and support area ( 0.618) .
How to use it :
Drawing Fibonacci retracement levels is a simple three-step process :
In an uptrend:
Step 1 – Identify the direction of the market: uptrend
Step 2 – Attach the Fibonacci retracement tool on the bottom and drag it to the right, all the way to the top
Step 3 – Monitor the three potential support levels: 0.236, 0.382 and 0.618
In a downtrend:
Step 1 - Identify the direction of the market: downtrend
Step 2 -Attach the Fibonacci retracement tool on the top and drag it to the right, all the way to the bottom
Step 3 Monitor the three potential resistance levels: 0.236, 0.382 and 0.618
In the next post, I will explain more about The golden ratio and how to use it in entering and exit .
for more educational ideas , signals and analysis follow us .
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.