Fibonacci Retracement Key Ratios

SUMMARY


Title

Fibonacci Retracement Key Ratios are used frequently in our trading, we do not need to study in detail where and how it being build. We only need to know the Fibonacci Retracement Key Ratios, these numbers can give us a plan on how to trade them as a strategy.

How can the Fibonacci Retracement Key Ratios help us:

  • To identify potential reversal levels
  • To find profit target level
  • To find retracement level
  • To find Reversal levels

What are the Fibonacci Retracement Key Ratios

  • Fibonacci works closely with Elliott Wave theory that is highly regarded and adopted by forex players.
  • Fibonacci can be applied in any time frame and remained consistent at all timeframe.
  • The main levels to watch are:
Fibonacci Retracement Key Ratios

  • Fibonacci retracement (Fib-R) as potential support levels to buy:
Support Fibonacci Retracement Key Ratios

  • Fibonacci Retracement (Fib-R) as potential resistance levels to short:
Resistance Fibonacci Retracement Key Ratios

  • Lets put them onto the chart:
Forex Fibonacci Retracement upwards movement
  • To find a support level after price moved upwards from A to B, start from A connects to B.
  • Fibonacci-retracement tool show potential support levels. You can see that price retraced to C and then bounce up.
  • Maximize the power of Fibonacci-retracement by looking for any key Fib-R level coming close to historical support or resistance. In other words, look for confluence between Fib-R and historical support or resistance.

Forex Fibonacci Retracement downwards movement
  • Fibonacci-retracement tool show potential resistance levels. You can see that price retraced to C and then head down.
  • To find a resistance level after price moved downwards from A to B, start from A connects to B.

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