#FibonacciRetracement#TA #Bitcoin #Ethereum #Google #Cardano #Nvidia #Tesla
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0:00 Intro
0:30 Fibonacci is Everywhere
1:00 What is Fibonacci Fibonacci sequence is a series in which each number is the sum of the previous two numbers i.e. 0, 1, 1, 2, 3, 5, 8, 13, 21, 34...
2:00 Golden Ratio Fascinating Fact: Divide any number in the sequence by the previous number; the ratio is always 1.618
1.618 is known as the golden ratio
2:12 Why Fibonacci Retracement for TA? PATIENCE:
Ex: You want in on a stock…but it has run up too far too fast.
Wait for the price to correct to Fibonacci retracement levels such as 23.6%, 38.2%, 50% and 61.8% and place limit orders at these levels.
38.2%, 50% and 61.8% are the most important support levels.
3:00 When Does Fibonacci Retracement Work? Effective over a longer time interval (eg 1 month) to identify dips (pullbacks on an uptrend) as entry points
No good on range-bound markets
REMEMBER:
Like any indicator, using the strategy with other technical indicators such as RSI and MACD as well as macro information.
3:40 How to Draw Precursor: Know the trend and verify uptrend (higher lows)
Find the Low
Find the High
Connect the dots with the Fib Ret Tool
Wait for your hit to .50 or .618
4:30 Uptrend Reminder
5:00 Ethereum
KEY LEVEL 0.50
KEY LEVEL 0.618
Support #2 at 0.50
Support #1 at 0.618
6:00 Key Secret #1
Green Hammer
Wait for candle hammer (eg green candle) with a higher close than a previous red candle.
7:10 Key Secret #2
MACD CONF
Confirm with MACD histogram turning positive.
7:58 Bitcoin Analysis
10:00 Ethereum Analysis
12:38 Cardano ADA Analysis
15:00 Tesla Analysis
16:00 Google Analysis
17:00 Nvidia Analysis
10:00 Charting Tool
TradingView
Fibonacci
Retracement
Charts
18:00 Conclusion #1
Remember: TA is a view into human behavior
Decisions are sometimes made as a foregone conclusion
18:30 Conclusion #2
I use FIB Retracement exclusively to bottom fish great names on up trends
Remember: takes a lot of energy to run uphill, use FIB to identify breathers
19:00 Conclusion #3 FIB Retracement helps me nail limit orders…I place them slightly above FIB levels.
19:20 Future IA TA Tuesday Videos
VPSV
Stochastics
Bollinger bands
Candlesticks
Fibonacci retracements
On balance volume
Up Trends (bullish)
Down Trends (bearish)
Consolidation (range riders)
Volatility
IA TA Full Agenda
Trend lines
Support & resistance
Moving averages
Exponential moving avgs
RSI
MACD
RSI + MACD
Breakouts
Gaps
Momentum
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