📉 We use the Fibonacci retracements for spotting discount and premium levels in a range.
📝 We draw the Fibonacci tool from the bottom to the top in an uptrend, and from the top to the bottom in a downtrend.
Terminologies:
EQL: equilibrium = a state of physical balance (50%).
Discount: we buy from
Premium: we sell from
To make it more approachable, we can...
The SPX reversal to $4,200 provides an opportunity to learn from the pros and get back to the basics of trading. This means understanding the numbers and being able to buy things wholesale and sell them at a retail price. With this knowledge, you can be a successful trader.
Wave–particle duality is the concept in quantum mechanics that every particle or quantum entity may be described as either a particle or a wave.
Basically has 2 types of behavior.
Duality concept is present in Financial Markets
We have 2 directions of outcomes of the market activity.
UP and Down assumed as Bulls and Bears
Whatever we see on a chart is...
initially the setup hadn't developed yet, so I pulled from current resistance down to support, checked overhead and to the left price history for confluence with the idea, and sure enough price action is respecting them on the money. As the chart develops I will reset the fibs to what ever the larger chart pattern begins to form.
Hey Purpose Traders. I pray all is well. In this video, I wanted to give you a deep, but quick insight on how you can trade pullbacks using the Fibonacci Retracement Tool.
I'd love to know your thoughts and if you have any questions. Lets chat in the comment section below.
Why 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually.
As you can see on chart, my...
The more confluences you have, the more confident you are in the fact that your technical setup will play out according to the plan. Confluences come in different shapes and styles, whether it is combining some Moving Averages and Bollinger Bands with price action, or having your grandma flip a coin a decide the faith of Bitcoin.
On the graphical illustration...
‼️ Forex traders use Fibonacci retracements to pinpoint where to place orders for market entry, taking profits and stop-loss orders. Fibonacci levels are commonly used in forex trading to identify and trade off support and resistance levels. After a significant price movement up or down, the new support and resistance levels are often at or near these trend lines...
S&P 500 Index (SPX)
Trying to dive into some Elliott wave theory and I have a more "interactive" chart to present based off of historical data. I chose this sequence and timeframe because it seems easiest to understand with confirmed examples from some of my own reading materials. This was notated by previously known EWT masters to be a "Double Zigzag"...
With this new version, the Fibonacci borders are calculated and placed automatically on your charts.
No need to place the top border manually any more.
You still have the possibility to move it manually if you consider that the indicator has not identified the right ATH (Pivot point)
Enjoy !
Wave Relationships and their relation by Fibonacci Ratios are among the most helpful tools for target prediction.
There are different types of Fibonacci and different tools with different names in different software packages. This may make users somehow confused . Here, we try to shed some light on various mostly used Fibonacci types and explain their usage...
Mainly experimental 👽
Using 20/07 swing low and daily PA prior to that date, start determining the circles levels (roughly 9 11 18 24 28 32 34 38 50 54 56 59 61, totally eyeballed that)
The goal is to see if this circles are still relevant on the other half !
Let's wait couple of years and see how it evolves.
Here is all i have learned about the fibonacci retracement tool...
Analysis into his chart:
Price retraces to 50 fibs level
This indicates a strong uptrend.
Thus a bounce on 0.5 fibs could
give high probability to target - 0.272
As a take profit
Here I bring you the concept of classic pitchfork and how to use it in live intraday market...
watch full video and you will see that how perfectly the pitchfork level works....
✳️The author of the Fibonacci series of numbers was the Italian mathematician Leonardo Pisano. The series has been known for centuries for this series of numbers: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89 and so on until infinity. The number is calculated by the sum of the two previous numbers.
This numerical relationship has also been used on the financial...
Hi all,
I'm going to introduce you to the Take Profit Screener tool.
It allows you to manually scan your watchlist so to determine at a glance the assets that would give you the best profitability potential.
It is a 2 in 1 tool that allows you to :
identify where your Take Profit ratios are located whether you are in SHAD or Cycle Strategy
identify...
