How to use Fibonacci Retracement ⁉️
‼️ Forex traders use Fibonacci retracements to pinpoint where to place orders for market entry, taking profits and stop-loss orders. Fibonacci levels are commonly used in forex trading to identify and trade off support and resistance levels. After a significant price movement up or down, the new support and resistance levels are often at or near these trend lines . Usually the price retracts to 50% or until OTE (0.62, 0.705, 0.79) before another impulse movement occurs.
❗️Check out my telegram channel with premium content.
t.me/Snick3rSD1
🌶 SpiceProp presents the offer with a 5% discount for any challenge.
🎁 Discount Code - SNICK5
spiceprop.com/
t.me/Snick3rSD1
🌶 SpiceProp presents the offer with a 5% discount for any challenge.
🎁 Discount Code - SNICK5
spiceprop.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.