Fibonacci Retracement Tool can:
1) Give you Support lines or areas
2) Give you Resistance lines or areas
3) Where to enter a trade
4) Where to place your stop loss
5) Where to place your target profit (use the Fibonacci extension tool for profit targets)- where price action MIGHT go too.
Your trading will be easier if you use the Fibonacci Retracement tool (and Extension tool)- by making your trading strategy mechanical. Trading without emotions and with risk management will put you into the 10% of successful traders, this is where you want to be.
Buy low into an upwards trend and Sell low into a downtrend will great increase your profits and reduce your stress- Fibonacci Tool is the one for this.
1) Give you Support lines or areas
2) Give you Resistance lines or areas
3) Where to enter a trade
4) Where to place your stop loss
5) Where to place your target profit (use the Fibonacci extension tool for profit targets)- where price action MIGHT go too.
Your trading will be easier if you use the Fibonacci Retracement tool (and Extension tool)- by making your trading strategy mechanical. Trading without emotions and with risk management will put you into the 10% of successful traders, this is where you want to be.
Buy low into an upwards trend and Sell low into a downtrend will great increase your profits and reduce your stress- Fibonacci Tool is the one for this.
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.
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.