Question regarding Fibonacci retracement bounce

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

Send a PM to member 'Ted1983' - he is always willing to assist others w/ their Fibonacci dilemmas...

lmaooo

replace 'assist' with 'condescend'

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? Many factors here mate, depends on how you want to play it. Do you faith that the uptrend will continue? the fib alone will not tell you, experience may help you find the probability game you are comfortable with to trade. Check some james16 and jankone threads for help... DON'T leave demo trading till you develop totally as a trader

Is there a way to know whether a price has bounce off its x% fib area?
:s Wait are you asking for a holy grail or more?

Hi Sim, thanks for the reply

No, I didn't look for a holy grail. I wanted to ask what are the conditions to say that a price has bounce off a fib line? Because I sometimes read lines like "the pair has bounced off its 61.8% fib" etc but I didn't see anything special on the chart attached (I didn't see a candlestick reversal pattern or anything).

bun888

Ahh I see, well you will hear that a lot I recommend you try and avoid those type of comments Spammed around the web is tons of after-the-fact comments which don't really help anyone except boosting the person who wrote it's egos lol!

In real time trading is a diffferent story

I see.

Okay, thanks for the insight, Sim

bun888

good luck mate