CHAPTER 1 : FIBONACCI RETRACEMENT TOOL & FIBONACCI LEVELS
When we say fibonacci we are referring to the fibonacci retracemént tool which we
use to find trade opportunities at areas of value during a moving trend
FIBONACCI
When we say fibonacci, we are referring to using the fibonacci retracement tool & fibonacci levels
Why use the fib tool?
The fibonacci tool provides you with “trade entry opportunities“ at “areas of value‘ during a ‘moving trend‘ as fibonacci levels can act as a form of ‘key support & resistance‘
FIBONACCI RETRACEMENT TOOL
- Provides you with trade entry opportunities at “areas of value” during a “moving trend”
- As fibonacci levels can act as a form of KEY SUPPORT & RESISTANCE
- SnR are areas where price can react to I reverse from TRADE ENTRY OPPORTUNITIES
Accessing the fib tool
We are now going to show you how to access the fibonacci retracement tool on the charting
platform we use which is available for free on our website at
Tarik fibo dari bawah keatas (untuk trend UP)
Pullback 50%
Pullback 61.8%
Trend DOWN
Gunakan fibo, tarik dari atas kebawah untuk Trend DOWN
Pullback 50%
How traders “traditionally” use fib
We are now going to show you the ‘traditional‘ way average traders use Fibonacci levels to enter trades on, which involves them entering trades ‘Instantly’ once price reaches a fib level they use
Trend DOWN
Why fib levels work
we’re going to cover the psychology behind why fibonacci levels work which focuses on ‘herd
mentality’ and how Fibonacci levels actually represent ‘areas of value‘ during a moving trend.
HERD MENTALITY
(Reason “#1 Why Fibonacci Levels Work)
- Also known as “a self-fulfilling.prophecy” (pygmalion effect)
- A lot of traders subscribe to these fib levels , in order to identify trade opportunities.
- THE SCHOOL OF FIBONACCI TRADERS WHO’ LOOK‘T0 TAKE ACTION AT FIB LEVELS ADDS ADDITIONAL CONFLUENCE TO AREAS You ARE ALREADY WATCHING FOR TRADE OPPORTUNITIES
AREAS OF VALUE
(Reason #2 Why Fibonacci Levels Work)
- Fibonacci levels actually represent “areas of value” during‘? moving trend
- Getting in at a “bétter price” relative to where price has already been.