📏 Fibonacci: fibonacci trading, fibonacci trading strategy, how to use f...

 





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Indicators:
EMA 3 (blue)
EMA 20 (yellow)
EMA 50 (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)

In an uptrend, the general idea is to take profits on a long trade at a Fibonacci Price Extension Level. You determine the Fibonacci extension levels by using three mouse clicks. First, click on a significant Swing Low, then drag your cursor and click on the most recent Swing High. The Fibonacci Extension tool is applied to one wave of a price move, which in turn helps to predict where future waves in that trend will go to, and possibly reverse. These are commonly used Fibonacci extension levels: 61.8%, 100%, 138.2%, 161.8%, 200%, 238.2%, 261.8%.

Fibonacci Expansions are price levels created by tracking a price's primary move and its retracement. The resulting price levels are then drawn on the chart in an area that would normally be difficult to gauge support and resistance using ordinary charting tools. It is at that moment, that Fibonacci can be used. Fibonacci retracement levels are depicted by taking high and low points on a chart and marking the key Fibonacci ratios of 23.6%, 38.2% and 61.8% horizontally to produce a grid. These horizontal lines are used to identify possible price reversal points.

The Golden ratio is a special number found by dividing a line into two parts so that the longer part divided by the smaller part is also equal to the whole length divided by the longer part. It is often symbolized using phi, after the 21st letter of the Greek alphabet. Fibonacci retracements provide some areas of interest to watch on pullbacks.