Herseys I Love You

FIBONACCI RETRACEMENT (PART-17)

 In this post I am going to tell you about Fibonacci Retracement. We already discussed about chart patterns in last Three posts.



WHAT IS FIBONACCI RETRACEMENT?

• It is the method of technical analysis in helps us to determine the resistance and support level.

Most of the traders believe that Fibonacci Retracement predicts 70% of market move, thus, it is powerful too.



HOW TO PLOT FIBONACCI RETRACEMENT?

• You have to select the Fibonacci Retracement first.





•Identify that the trend is Upward or Downward.






• If the trend is upward then place the Fibonacci Retracement form bottom to top by joining the candles.



• If trend is downward then place the Fibonacci Retracement form top to bottom by joining the candles.



• If candle breaks 0.786 then it means trend is about to change.

If you have not visited our last post on Neutral chart pattern then click on this link or copy it and paste it on chrome 

Link- https://commerceworldteam.blogspot.com/2024/04/neutral-chart-patterns-part-16.html#c6016956850409656994

Please comment below if you like our post and also comment below if you face any kind of difficulties.

Thanks for visiting 

0 Comments