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MY FIB SPEED RESISTANCE FAN TRADING STRAT : ) Hi! I'm xtekky and this is my tutorial on how to use the Fibonacci speed retracement tool- I used Apple (AAPL) as an example to display the tutorial. Steps: (1) Open the fib retracement section on the left bar and select the " Fib Speed Retracement Fan" (2) According to your trading style, select the timeframe I indicated in the chart - to begin with - you can then choose the timeframe you are most comfortable with. (2) Define the begin of an uptrend (after last retracement or reversal) and place your first point (3) Define the end of the uptrend (after last retracement or reversal) and place your second point - if there isn't any recent retracements / reversals, you can take previous ones or the highest recent value (4) Define the most relevant percentage (38.2% on this chart) but it may as well be another level - note that fib levels 38.2% and 61.8% are often the most relevant ones (5) Let the stock / crypto test the level once or twice to make sure it holds, you can of course jump in directly if you are confident. (6) Take Longs and Shorts in the "Channel" Advanced: (7) Use momentum reversals (Squeeze Momentum from @LazyBear is the best indicator for me) to define more precisely when to jump in - note that the price doesn't always trade in the channel, there are some false breakouts and/or the price sometimes reverses a bit further. (8) Use volume support / resistance zones (9) Include Imbalances in the prices (If the Crypto/Stock you trade has a high volatility/manipulation rate) If you want more complex tutorial, you can see a more detailed vid on the Ytb profile linked to this Tradingview account Disclaimers: !! This is not an investment advice and you shouldn't use this technique alone !! !! Never invest/trade with more money than you can afford to loose !! ------------------------------------------------------------------------------------------------------------------------------------------------------------ That's pretty much it! don't forget to ask or DM if you have any questions! If you want to follow me on this long journey ahead of us, you can support me by subbing and liking the post ! -Credits to xtekky-
NASDAQ:AAPLEducation
by xtekky
1
Pitchfan From ScratchHello, traders! Today we’ll continue to speak about graphical tools of trading view. We have already completed Fib. Retracement, Gann Square and different kinds of Pitchfork. Today we’ll speak about extremely useful tool, that we are integrating in our strategies. So, ladies and gentlemen, love and favor, Pitchfan. A Pitchfan is a set of rays spreading out of the point of a trend's beginning. These rays inclined with the coefficients formed by a Fibonacci number sequence.it is recommended to apply a Pitchfan after the first wave of the trend has passed and the correction has clearly begun. To draw a Pitchfan, it's first and second points are to be set at the trend's extreme points, and the third point is to be set at the extreme point of the first correction wave. Basically, during the bullish trend, put the first point to the beginning of the trend, second to first confirmed higher high, third to the first confirmed higher low. Whereas during bearish trend put the first point to the beginning of the trend, second to first confirmed lower low, third to first confirmed lower high. When I say «confirmed», I mean two-three candles should close after the high lower and after the low - higher. Kinda difficult? Have a look at the chart and should become more clear. What does it say? Initially, if you plot it correctly, it’ll give you clear support resistance levels. This’s information, in my opinion is priceless for any trader cause it’s much easier to predict the future price movements. But the best of usage, seems to me, in conjunction with Fib Retracement or Trend based Fib. Extension. If it’s interesting to you, dear traders, write down to comments and advise the third indicator or tool. So, we’ll make the trading strategy together. Read my tutorials, write questions to comments and you are about to boost up. Have a nice trading week, dear traders! DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
Education
by Skyrexio
2
Fib Speed Resistance Fan StudyThis is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially tradable ideas: 1) Riding the new breakout and confirming when it's no longer valid 2) Anticipating a new breakout (*Study only. I did not trade this chart)
Education
by Fr33zerPop
1