In the world of trading, one of the most influential factors that can either make or break a trader is the mind. How often have we found ourselves saying, "I should have done this" or "I would have done that" after a trade has unfolded? Yet, when we were in the heat of the moment, those seemingly obvious solutions never crossed our minds. To overcome this common...
The trading landscape in the 21st century is characterized by a revolutionary fusion of cutting-edge technology and financial acumen. As the accessibility of trading increases, traders wield a versatile suite of tools that encompass chart patterns, Fibonacci retracements, Andrews' pitchfork, and the Zig Zag indicator. This in-depth exploration delves into the...
Hey traders,
In this article we will discuss two very popular Fibonacci tools:
Fibonacci retracement and extension.
1️⃣Fib.Retracement tool is applied to identify a completion point of a retracement leg within an impulse.
As you know price action has a zig-zag form.
For example, in a bullish trend, the price tends to set a higher high then retrace and...
The Fibonacci retracement tool plots percentage retracement lines based upon the mathematical relationship within the Fibonacci sequence. These retracement levels provide support and resistance levels that can be used to target price objectives.
Fibonacci Retracements are displayed by first drawing a trend line between two extreme points. A series of six...
