In this video, the presenter explains how to use the Fibonacci expansion tool for trading. The Fibonacci expansion is helpful for adding confluence to entries and targets, and is especially useful for stocks, coins, commodities, and forex that go to all-time lows and highs. The presenter demonstrates how to apply the tool on various charts, including Theta, ZRX, OMG, Waltonchain, and Apple. Key takeaways include using the expansion tool in conjunction with other technical analysis for higher probability setups and being cautious about shorting all-time highs or buying all-time lows without proper confluence.
Timestamps:
- [00:00:00] Introduction and overview of the stream agenda
- [00:25:31] Explanation of the presenter's daily trading updates and how to use the provided levels
- [00:37:37] Chart of the week: Theta - discussing the importance of buying higher lows after a support level has held multiple times
- [01:21:15] Introduction to the Fibonacci expansion tool and how it differs from the Fibonacci extension tool
- [01:25:44] Applying the Fibonacci expansion tool and the levels to watch for
- [01:37:37] Example of using the expansion tool on ZRX
- [01:44:25] Using the expansion tool on all-time lows, with examples on OMG and Waltonchain
- [01:50:55] Applying the expansion tool on all-time highs, with Apple as an example, and why shorting all-time highs is generally not recommended
- [02:06:07] Recap of the tools covered so far in the Fibonacci series and the plan for upcoming streams
- [02:19:39] Tips for learning and digesting the content, including watching each video multiple times, making notes, and asking questions
- [02:23:40] Q&A session and discussing the various Fibonacci tools available
The presenter encourages viewers to practice using the Fibonacci expansion tool alongside the other techniques taught in the series and to continue learning at their own pace. The next stream will focus on live charting using the three Fibonacci tools covered so far, followed by a stream dedicated to the Fibonacci extension tool.