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618 Fibonacci Retracement

Bitcoin - Big players are using these levels, so why not you? Before reading, please show me some love by liking and commenting! It's free, so why not? In this post I want to show you the power of the Golden Pocket (0.618 -0.65 Fibonacci retracement). After one year in a downtrend, we finally saw that price increased and reached a high of $13920 on Bitmex. But why did the price stop exactly at this level? For those who think that TA is not working, here is the answer: Fibonacci is a fantastic tool that works in all markets of the world, and when you understand how to use it, it make the difference between an amateur and a pro trader. In this example, since we are looking for a short opportunity, we just took the high that we reached the 11 December 2017 and the low of 10 December 2018. And what do you notice? Yes, price stopped exactly at this Golden Pocket. Is this a coincidence? Not at all. Why this level is very important and why do you see price rejection most of the time at this level? Because big players are using it, financial institutions with large capitals that have very complex trading algorithm use it every single day, whether it is for scalping, day trading or swing trading. Now when using the Golden Pocket we don't want to blindly long or short at this level. What we are looking for is confluence with at least something else. In this case, what made this trade a high probability one is the fact that the Golden pocket was sitting exactly at the previous weekly level of $13873 (previous support that became resistance) which is enough of a confluence to take the trade. Big players are using those levels, so why not you? If you love this content please support me by sharing, commenting and following me! Thank you and ... Have an amazing day!
BITMEX:BTCUSD.PEducation
by DMG_Intelligence
How to profit 27% using just the 618 & tweezersIn forex trading, the Fibonacci sequence can also be applied to market behavior to find high-probability trading setups on a wide range of timeframes. Fibonacci retracement is based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. Fibonacci retracement is created by taking two extreme points on a chart and dividing the vertical distance by the key Fibonacci ratios. 0.0% is considered to be the start of the retracement, while 100.0% is a complete reversal to the original part of the move. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels The following is a list of key Fibonacci retracement levels to look out for: Retracement level: 38.2% Fast and aggressive pullback bounce. Retracement level: 50% Medium pullback bounce. Retracement level: 61.8% Golden Number pullback bounce. Retracement level: 78.6% Stop-loss level to be placed, 10 PIPs. Extension levels: -61.8% and -27% Target area for trend continuation. 23:42:21 (UTC) Wed Jan 1, 2020 Alchemy FX shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This website and its email are not a solicitation to buy or sell currency. Any opinions, news, research, analysis, prices, trade discussions, or other information contained on this website are educational in nature and merely provided as a presentation of trading strategies. Commentaries made on this website reflect our own opinions and trading techniques and do not constitute investment advice.
FX:USOIL
by TayFx
1
Power of Phi: We banked +37%!In forex trading, the Fibonacci sequence can also be applied to market behavior to find high-probability trading setups on a wide range of timeframes. Fibonacci retracement is based on the idea that markets will retrace a predictable portion of a move, after which they will continue to move in the original direction. Fibonacci retracement is created by taking two extreme points on a chart and dividing the vertical distance by the key Fibonacci ratios. 0.0% is considered to be the start of the retracement, while 100.0% is a complete reversal to the original part of the move. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels The following is a list of key Fibonacci retracement levels to look out for: Retracement level: 38.2% Fast and aggressive pullback bounce. Retracement level: 50% Medium pullback bounce. Retracement level: 61.8% Golden Number pullback bounce. Retracement level: 78.6% Stop-loss level to be placed, 10 PIPs. Extension levels: -61.8% and -27% Target area for trend continuation. Copyright 2019 © Alchemy FX All rights reserved. No part of this book may be reproduced or used in any manner without written permission of the copyright owners except for the use of quotations in a book review.
FX:USOIL
by UnknownUnicorn3442968