Classic

Fibonacci Retracement

The Fibonacci sequence and the golden ratio exist everywhere in many forms. From human DNA strands to the Milky Way Galaxy, the sequence known as the golden ratio seems to appear everywhere.

It should be no surprise that the Fibonacci sequence takes form in trading as well, seeing as that is under the umbrella of everywhere.

But you may be surprised to find that the Fibonacci golden ratio plays a significant role within price action and Technical Analysis, in a predictive manner.

It may sound bizarre; that a sequence that can be found everywhere in life itself has made its way into Tradingview and charts, but behind those charts are real people.

Behind the price action, it's real people making it happen. Trading is a game of humans exchanging buys for sells and sells for buys.

So it is only fitting that the same Fibonacci sequence that appears in our DNA, would also appear on our charts and give us the golden edge over the rest of the market.

Of course, how to find that golden edge and use it to your advantage is something else entirely.

We can use the Fibonacci Retracement tool to highlight price areas with strong significance in both uptrends and downtrends, on both HTF and LTF.

It can provide a trader with great confluence to identify a strong trade entry or take profit.

Fibonacci Retracement is a must-have in your confluence toolset.

This series will reveal the full power of Fibonacci being applied to your analysis, study this without distraction, put it into practice, and see for yourself.

Time Stamps

2:50 – ONT COTW

Long entry from CC + Weekly = bounce

17:50– FIBONACCI RETRACEMENT

It is a must
Do not put SL based on Fibs, use MS
ALWAYS pull from left to right
In a strong uptrend, 0.382 is support, if lost 0.618 should hold (it is also possible that the consolidation takes a longer time).
After a long downtrend, you can only start to have confidence that the potential bottom is in when 0.236 is claimed.

40:08 – CHAMPIONS CHANNEL – CC