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Fibonacci Extension

Navigating the Markets with Fibonacci ChannelsToday we delve into the fascinating world of Fibonacci Channels, a powerful tool for traders looking to identify potential non-horizontal support and resistance levels in the market. Throughout the video, we provide a step-by-step guide on how to place Fibonacci Channels on price charts, allowing you to visualize and understand their significance in identifying key price levels. We also showcase real-world examples to demonstrate how Fibonacci Channels can be used to find points of interest, such as trend reversals and price targets. Furthermore, we discuss the integration of Fibonacci Channels with other technical indicators, providing insights into how this combination can enhance your trading strategy. By the end of this video, you will have a comprehensive understanding of Fibonacci Channels and the ability to confidently incorporate them into your trading approach. Get ready to unlock the potential of Fibonacci Channels and take your trading skills to the next level!
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by LeafAlgo
16
How To Day Trade Consolidations Profitably With #FibonacciTraders, Several fellow day traders have been asking to show how they can day trade using fibonacci based analysis which I use for swing trading. The fibonacci based analysis is applicable to all chart time frames and on all instruments in all markets. It even works on tick charts. In this educational video I present how we could have made 130 pips easily with day trading GBPUSD using fibonacci based analysis. Support and motivate me by hitting the like button, subscribing to my channel and sharing this analysis with other traders. Comment below and let me know what you think of this analysis and what is yours? I welcome all comments, feedback, ideas and sharing of knowledge. Have a great trading week!
Education
by vikinsa
2
How To Plan Plan A Trade With Fibonacci Ratio ConfluenceHi Traders, In this video we will look at How To Plan Plan A Trade With Fibonacci Ratio Confluence. Fibonacci ratios are most powerful tools with they are used in right manner. We can use them in all sorts of market conditions and asset classes. Fibonacci confluence creates harmonic patterns and gives us very good reward risk ratio. The best thing is the possibility to pre-plan and quantify a trade with high accuracy. Please feel free to comment or ask questions. Hit the like button if you found value in this post. Thanks! :)
Education
by vikinsa
2 BEST-FIT PITCHFORKS CROSSING EACH OTHER + 1 FIBONACCI CLUSTEREURUSD / 15 minutes timeframe / an example of a high-potential reversal zone created by fibonacci based-pitchforks and fibonacci levels. How did I get this? Two best-fit pitchforks (yellow and orange pitchforks) that have their three respective validated hits on their median line, upper parallel and lower parallel were drawn. The Swing Highs and Swing Lows of the pitchforks were also useful in drawing two types of fibonacci levels: extended retracements (1.236 and 1.272 extended retracement in this example) and basic fibonacci levels (0.318 level in this example). This fibonacci levels that are extremely close between each other form what we call a fibonacci cluster (which can be considered as a support and resistance zone). When the 0.382 parallel of the orange pitchfork, the lower parallel of the white pitchfork, the 1.272 and 1.236 extended retracements and 0.318 fibonacci level were extremely close between each other, this created a 3-5 pips high probability turn-around zone for price, which basically means that there was a high probability for price to reverse, which in this example happened. When traders have this type of scenario, they can have a very tight stop loss with this specific timeframe, which allows them to have a great risk-reward ratio if their trade goes well and if their money management system is efficient.
Education
by Henri111