Hey there, crypto enthusiasts! Let's take a closer look at the recent Bitcoin pump that didn't quite take off as expected. It turns out, we encountered a significant resistance level at the 0.5 Fibonacci retracement on the Fibonacci retracement tool. 📊💡
🌐 The Fibonacci Fascination: Before we delve into the recent action, let's touch on the golden tool of...
Even if you are new to investing, you may already know some of the most fundamental principles of sound investing. How did you learn them? Through ordinary, real-life experiences that have nothing to do with the stock market.
For example, have you ever noticed that street vendors often sell seemingly unrelated products - such as umbrellas and sunglasses?...
☸️WHAT ARE FIB RETRACEMENT LEVELS
Fibonacci retracement levels are horizontal lines that indicate the possible support and resistance levels where price could potentially reverse direction. The first thing you should know about the Fibonacci tool is that it works best when the market is trending.
The idea is to go long on a retracement at a Fibonacci support...
☸️WHAT ARE FIB RETRACEMENT LEVELS
Fibonacci retracement levels are horizontal lines that indicate the possible support and resistance levels where price could potentially reverse direction. The first thing you should know about the Fibonacci tool is that it works best when the market is trending.
The idea is to go long on a retracement at a Fibonacci support...
After sticking to the rule of proportioning (using 45 degree angle on m1), and rule of observations (labeling past waves m0, m-1, and future waves m2, m3 properly relative to m1), now we want to measure the retracements of these waves.
The author of this book suggests people should use rulers and protractors and all that other caveman stuff. Sometimes technology...
So you want to get into price action?
Not fundamentals ey. But then one HAS to do all this backtesting, there is no dodging it.
Can't go into "TA" to dodge the FA work, and then want to also dodge the stat work xd
No magic trick here.
Let's get started immediately.
EURUSD 2020 covid trend (can't 100% dodge fundas, always good to know why we're going in a...
Fibonacci retracements follow a mathematical principle set forth by Leonardo Fibonacci.
To put it simply - each level is a ratio between two other numbers, and there are countless examples of them being respected in the stock market, forex, crypto, commodities - you name it. For this reason, it's an essential tool in the technical trader's toolbox.
There are...
The “OOPS pattern” was developed by trader and author Larry Williams. It was named, according to Williams, for the all too common experience among traders when a broker would call his clients to report that a position was stopped out and say, “Oops, we lost.” This was due to the market gapping from one trading day to the next due to an overreaction from some...
