Fibonacci Retracement Strategy is one of the foolproof trading strategies for swing trading or long-term investment. Normally under Fibonacci Retracement Strategy, 38.2% is the most common Fibonacci Retracement level but i consider the retracement level of 61.8%. The reason being, the level of 61.8% on Fibonacci is very critical because if the stock breaks this level then it is considered that there is a trend reversal. Therefore, if you are swing trading at the level of 61.8% then you can trade with very small stop level as the probability of the retracement is very high.
Normally for swing trading, i look out for 2 to 3 BUY signals before executing a trading. In the example shown in this video, the 3 BUY signals are as follows
1. Fibonacci Retracement level of 61.8%.
2. The double bottom W pattern is formed and in my opinion, it is a highly reliable pattern. Besides double bottom, for sell trade, you can check double top pattern. Sometimes the patterns are triple top or triple bottom.
3. As i shared in my earlier video that there is a high probability that FII's are taking a position in HDFC Bank.
If you liked this video, You can "Subscribe" to my YouTube Channel. The link is as follows
[ Ссылка ]
By subscribing, You can daily watch a new Educational and Informative video in your own Hindi language.
For more such interesting and informative content, join me at:
Website: [ Ссылка ]
T: [ Ссылка ]
G+: [ Ссылка ] #NitinBhatia
