MUST WATCHEFibonacci Retracement Tool (Video Tutorial)

Hey guys, It’s Shoaib here and Today in this video tutorial I will Explain the Fibonacci Retracement Tool with where to enter and where to exit. It’s actually an untold Secret, which you had never seen or heard before.

MUST WATCH: STOCHASTIC INDICATOR TRICK

-: IMPORTANT POINTS :-

TIMEFRAME:

M15, M30, H1

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FOR UP TREND:

• DRAW Fibonacci FROM DOWN TO UP DIRECTION
• MUST CROSS 38.2
• MUST CROSS 50.0
• CANDLE SHOULD NOT CLOSED BELLOW 61.8
• CANDLE MUST CLOSED ABOVE MOVING AVERAGE

POSITION PRICES:

ENTERY = CLOSED AT MOVING AVERAGE
Stop Loss = 78.6
Take Profit = 161.8

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FOR DOWN TREND:

DRAW Fibonacci FROM UP TO DOWN DIRECTION
ENTERY = WHERE CANDLE CLOSED BELLOW THE 38.2 LEVEL AND MOVING AVERAGE
Stop Loss = 78.6
Take Profit = 161.8

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ADD A CUSTOM LEVEL:

LEVEL = 0.786
DESCRIPTION = 78.6 %$

What is Fibonacci Retracement Tool?

A Fibonacci retracement is a word utilized in technical analysis that describes points on a support (market puts a stop to going lower) or even resistance (market puts a stop to proceeding higher). Fibonacci retracement levels make use of horizontally lines to suggest areas of support or resistance at the significant Fibonacci ranges before the market trends go in the new path. Such levels are taken by using a trendline between the higher together with lower then separating the vertical area by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%.

FINAL WORDS:

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