Fibonacci Retracement Trading — How I Actually Use It Profitably
Fib retracement at 0.618-0.786 zone with reversal candle + volume confirmation. Stop below 0.886. Target at 1.272 extension. Works on strong impulse moves.
ENTRY RULES
EXIT RULES
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ORIGINAL POST
Fibonacci Retracement Trading — How I Actually Use It Profitably
Fibonacci retracements are powerful but most traders use them wrong. Do not just draw fib and buy at 0.618. Instead: identify a strong impulse move, draw fib from swing low to swing high. Wait for price to retrace to 0.618-0.786 zone. At that zone, look for a bullish reversal candle (hammer, engulfing) on higher-than-average volume. That is the entry. Stop below 0.886 fib. Target at previous high or 1.272 extension.
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