Fibonacci Retracement swing golden levels breakout-reversal
The "golden levels" — specifically the 1.618 , 2.618 and 3.618 retracement points — hold a special place. These ratios, derived from the Fibonacci sequence, are revered for their tendency to act as crucial support and resistance zones.Fibonacci sequence expresses the golden ratio 1.61803 and the market fullfills the structure most of the time by retracing the golden levels or zones.
The market has swings and fibonacci retracemnet tool helps to find the exact levels of breakout and reversals based on market trend swings.
Here, after breaking out the level there must be some sustaining candles formed to make a position in the market. Or, if the candles sustain over the level, it can turn into a reversal point.
The market follows an integrated psychology of traders,brokers,makers,takers.Therefore,we must wait for some sustaining candles and the candles must retrace the level for a continuation or reversal of the trend.
-Asif Hassan Risan
7 september,2024
The market has swings and fibonacci retracemnet tool helps to find the exact levels of breakout and reversals based on market trend swings.
Here, after breaking out the level there must be some sustaining candles formed to make a position in the market. Or, if the candles sustain over the level, it can turn into a reversal point.
The market follows an integrated psychology of traders,brokers,makers,takers.Therefore,we must wait for some sustaining candles and the candles must retrace the level for a continuation or reversal of the trend.
-Asif Hassan Risan
7 september,2024
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.