Practical Exercise - Applying Fibonacci Retracement
Fibonacci retracement is usually used to measure a correction of a prevailing trend. Using these ratios, we can often have an expectation of where a correction will likely complete.
Practical Exercise
1) Pick a currency pair, it can be any currency pair, any timeframe.
2) Based on the most recent development in price, apply the fibonacci retracement tool.
3) Post your exercise on the comment section in this thread.
4) Repeat this practice to gather a total of 10 examples.
Practical Exercise
1) Pick a currency pair, it can be any currency pair, any timeframe.
2) Based on the most recent development in price, apply the fibonacci retracement tool.
3) Post your exercise on the comment section in this thread.
4) Repeat this practice to gather a total of 10 examples.
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.