Learn Fib retracement and extension levels analysis.
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How do you use Fibonacci retracement? Well in this tutorial I show you how to use the Fibonacci retracement and extension levels to find strong support and resistance levels. It’s very important you use the Fibonacci tool in the direction of the trend and not against the trend.
What We Cover In This Video:
0:31 The most simple strategy/technique to find the trend direction
0:52 How to analyze price action structure to find the trend
1:27 Why trend trading is a the best method for forex beginners
1:52 The best Fibonacci retracement and extension levels
2:01 How to use Fibonacci levels to find good trading opportunities
2:54 How to draw Fibonacci retracement levels
3:48 The best buy and sell signals to enter trades
4:17 The two ways to use Trend Pulse Pro to get a good entry
4:25 How to use Trend Pulse Pro buy and sell signals
5:01 The best way to place stop loss SL and take profit TP
If the trend is up/bullish, use Fibonacci retracement 50% and 61.8% on MetaTrader 4 (38.2% on TradingView platform) levels as support levels to go long (when you get a buy signal) and Fibonacci extension 127.2% and 161.8% levels as resistance and take profit.
If the trend is down/bearish, use Fibonacci retracement 50% and 61.8% on MetaTrader 4 (38.2% on TradingView platform) levels as resistance levels to go short (when you get a sell signal) and Fibonacci extension 127.2% and 161.8% levels as support and take profit.
You can use Trend Pulse Pro to trade all forex pairs (my favorites are EURUSD, USDJPY, GBPUSD, AUDUSD and USDCHF), gold XAUUSD and oil. It works on all time frames and by following the simple rules in this video it one of the best forex trading strategies for beginners.
Free PDF Downloads:
Best Price Action Trading Strategy
Fibonacci Strategy Cheat Sheet
How To Day Trade For A Living
Best Swing Trading Strategy
Multiple Time Frame Analysis
How to Trade 1 Min Time Frame
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