How to use Fibonacci TOOL for entry?
● Identify the market structure - the trend.
● Wait for the breakout.
● Let the price retrace, Use Fibonacci retracement tool for entry trigger.
● Enter with a significant risk-reward of 1:2,1:3...
#fibonacci #trendanalysis #tradingstrategy
● Identify the market structure - the trend.
● Wait for the breakout.
● Let the price retrace, Use Fibonacci retracement tool for entry trigger.
● Enter with a significant risk-reward of 1:2,1:3...
#fibonacci #trendanalysis #tradingstrategy
👆▫️Harmonic Patterns: AB=CD
Scott M. Carney, refined the pattern (introduced by Harold Gartley) by assigning new elements and specific Fibonacci ratios to confirm the formation. The result is what is known today as the AB=CD pattern.
When the structure conforms to the following specifications, then it qualifies as a perfect bullish AB=CD pattern.
The specifications are the following:
•AB=CD
•BC retraces 0.618 of AB
•CD terminates at the 1.618 projection of BC extension or
CD must retrace the 1.272 extension level of AB.
•Equal time of duration for AB and CD
#Harmonicpatterns #fibonacci #trendreversalpatterns #chartpatterns
Scott M. Carney, refined the pattern (introduced by Harold Gartley) by assigning new elements and specific Fibonacci ratios to confirm the formation. The result is what is known today as the AB=CD pattern.
When the structure conforms to the following specifications, then it qualifies as a perfect bullish AB=CD pattern.
The specifications are the following:
•AB=CD
•BC retraces 0.618 of AB
•CD terminates at the 1.618 projection of BC extension or
CD must retrace the 1.272 extension level of AB.
•Equal time of duration for AB and CD
#Harmonicpatterns #fibonacci #trendreversalpatterns #chartpatterns
#fibonacci
#swingtrading
What is Golden Zone while using the fibinacci retracement tool?
● In any defined uptrend if the counter trend or the retracement supports the 50% - 61.8% levels and bounce back, subsequently marks a new high represents a strength in the trend and will continue further.
#swingtrading
What is Golden Zone while using the fibinacci retracement tool?
● In any defined uptrend if the counter trend or the retracement supports the 50% - 61.8% levels and bounce back, subsequently marks a new high represents a strength in the trend and will continue further.