This image was posted about 13 hours ago.
Now look what happened with the minor retracement on the Daily candle. I am showing you this to help you to see that the fib tool is useful for catching these minor retracements before price takes off. Important levels to pay attention to are the 15%, 38.2%, and 50%. More often than not, the 15% and 38.2% work out best with this strategy. Use the fib tool to draw the levels on the daily candle. Limit orders can be placed at these levels.
Retracement to 50%
Disclaimer: This is not financial advice. It is for educational purposes only.
Now look what happened with the minor retracement on the Daily candle. I am showing you this to help you to see that the fib tool is useful for catching these minor retracements before price takes off. Important levels to pay attention to are the 15%, 38.2%, and 50%. More often than not, the 15% and 38.2% work out best with this strategy. Use the fib tool to draw the levels on the daily candle. Limit orders can be placed at these levels.
Retracement to 50%
Disclaimer: This is not financial advice. It is for educational purposes only.
Learn from your mistakes and march on.
3