Fibonacci Retracement
The first thing you should know about Fibonacci devices is that this works better when the market is trending.
The idea is to buy long (or buy) at the retracement of the price on the market Compilation of the market is going up, and to sell short (or sell) on the retracement at the level on the market Compilation of the market is going up.
In order to find a retracement level, you have to find a level that is important enough from the Swing Height and Swing Low Position. Then, for a downtrend, click on the Swing High and drag the cursor to the latest Swing low.
For uptrends, do the opposite. Click on Swing Low and drag the cursor to the latest Swing high.
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