Fibonacci retracements follow a mathematical principle set forth by Leonardo Fibonacci.
To put it simply - each level is a ratio between two other numbers, and there are countless examples of them being respected in the stock market, forex, crypto, commodities - you name it. For this reason, it's an essential tool in the technical trader's toolbox.
There are...
This uses BE as an example of what I do when I calculate the Fibonacci retracements and extensions, which are used to measure corrections and future price targets.
Retracements
I start by finding the location of a correction. I define a correction as anything the closes below the 20 period moving average. The lowest point in that correction becomes the first...
Hey guys,
here is my last video about FIBONACCI and its extensions. :-)
No offens to those you use it in a wrong way -I did the same mistake!
I just wanna show you how you should do it and wanna help you to improve your trading. :-)
If you don`t really understand why, just check the first Video of my Fibinacco-series.
Peace and good trades
Irasor
Wanna see...
