1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Fibonacci Retracements

Discussion in 'Fibonacci Trading' started by Sandra S., Oct 20, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Joined:
    Sep 1, 2015
    Messages:
    4,018
    Likes Received:
    1
    This trading technique uses Fibonacci ratios to project price levels where we expect retracements to end.
    [​IMG]
    Choose a market swing so that you can plot the retracement levels. The chosen market swing will define the range as shown in blue. Then, we apply the Fibonacci ratios within that range as shown by the black dotted lines.

    In this example, price found some support at the 23.6% level but punched right through the 38.2% level. However, the golden ratio level (61.8%) provided solid support and stopped the retracement.
     

Share This Page