Hello everyone
I would like to ask something about the Fibonacci retracement principles:
For example a pair is in an uptrend; then it retraced to its 50% fib retracement area and then it stopped going further down nor it reverses (the price just playing around that 50% fib area).
So, is it save to assume that the retracement has stopped at the 50% fib area and the pair is ready to resume its uptrend? If it is, what is the best entry strategy in this sort of situation?
Is there a way to know whether a price has bounce off its x% fib area?
If there is, would you mind sharing it?
Bun888
I would like to ask something about the Fibonacci retracement principles:
For example a pair is in an uptrend; then it retraced to its 50% fib retracement area and then it stopped going further down nor it reverses (the price just playing around that 50% fib area).
So, is it save to assume that the retracement has stopped at the 50% fib area and the pair is ready to resume its uptrend? If it is, what is the best entry strategy in this sort of situation?
Is there a way to know whether a price has bounce off its x% fib area?
If there is, would you mind sharing it?
Bun888