How to Analyze Fibo Retracement Levels Technical Analysis
Read Fibonacci Retracement Levels Technical Analysis
The Fib retracement levels are explained below: traders should use this Fibonacci Retracement Levels indicator to determine where to open a trade whether a buy trade in a upward trend & a sell xauusd trade in a downwards trend.
How Do I Use Fib Retracement Levels for Intra-Day Trading?
How Do I Use Fib Retracement Levels for Intra-Day Trading?
How Do I Use Fib Retracement Levels for Day Trading? - Fibo Retracement Tool Described
How Do I Use Fib Retracement Levels for Day Trading? - Fibo Retracement Tool Described
How Do I Use XAUUSD Fibonacci Retracement?
In the technical analysis example shown below the price is moving up between chart point 1 and chart point 2 then after chart point 2 it retraces down to 50.0% Fib retracement level then price continues moving up in the original upwards trend. Note that this price retracement indicator is plotted from point 1 to point 2 in the direction of the trend (Upwards Direction).
XAUUSD Analysis of How Do You Use Fibo Retracement in an Upwards Trend?
Technical Analysis of How Do You Use Fibo Retracement in an Up Trend?
Once the price hit the 50.0% Fib retracement zone, this Fibo retracement zone provided a lot of support for the price, & afterwards the market then resumed the original upward trend & continued to move up-wards.
For this technical analysis example, the price retracement reached the 50.0% Fib retracement zone, but most of time the market will retrace upto 38.2% Fib retracement zone & therefore most of the time traders set their buy limit pending orders at 38.2% Fibo retracement level, while at same time placing a stop just below 61.8% Fib retracement level.
How Do You Use Gold Fib Retracement?
In the Retracement Strategy example illustrated below the market is moving down between chart point 1 & chart point 2, then after chart point two the price then retraces up to 38.2% Fibonacci retracement level then it continues moving downward in the original downward trend. Note that this price retracement indicator is plotted from chart point 1 to chart point two in direction of the trend (Down-ward Direction).
XAUUSD Analysis of How Do You Use Fibo Retracement in a Downward Trend?
Technical Analysis of How Do You Use Fibo Retracement in a Downwards Trend?
The above technical analysis example is a price retracement trading set up where the price retraces immediately after touching the 38.2% Fibonacci Retracement Level.
In this technical analysis example the price pull back of price reached 38.20% Fib retracement level & did not get to 50.0% Fib retracement level. It's always good to use 38.20% Fib retracement level because most of times price retracement doesn't always get to 50.0% Fibonacci retracement level.
This Retracement provided a lot of resistance for the price pull back, this was the best place for a trader to place a sell limit order as the market quickly went down after hitting this Fib retracement level.
How Do You Interpret Fibonacci Retracement Levels Technical Analysis
