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23.2% fibonacci retracement area in Trading Systems_68922e7c602bf

23.2% fibonacci retracement area

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Torroco

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23.2% Fibonacci base, in the Fibonacci retracement there are a lot of numbers that are used to open positions for correction or trend extension, but this time I will discuss making base supply and demand in the 23.2% area. so we will mark the number 23.2% of Fibonacci to be the base



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#1 - July 01, 2021, 09:41:57 AM
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« Last Edit: July 27, 2024, 09:54:17 PM by Admin »

Keylevel

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Fibonacci numbers are special numbers, sometimes the price corrects to that area, sometimes between 50 and 61.8
#2 - August 07, 2021, 02:05:21 AM

Keylevel

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to get an entry moment on fibo 23 is very rare, but if you approach that area, yes it may often happen


#3 - August 11, 2021, 01:41:08 AM
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Kardel Sharpeye

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The 23.2% Fibonacci retracement level is a commonly used technical analysis tool in forex trading. It represents the first level of support or resistance after a price move, based on the Fibonacci sequence. Traders use this level to identify potential entry and exit points in a trade. When the price retraces to the 23.2% level, traders may interpret this as a sign of a minor pullback and an opportunity to enter a trade in the direction of the trend. However, traders should also consider other technical indicators and market conditions before making any trading decisions. Proper risk management is crucial to minimize losses and maximize profits.
#4 - March 04, 2023, 11:31:22 PM

Ikhtiar

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I believe this approach requires caution. The 23.2% level is often easily penetrated due to its shallow nature, making it not always a strong defensive zone. If a trader uses this level as a base, they should ensure there is other confluence supporting the area, such as strong price action, increasing volume, the presence of a key structural level, or relevant momentum indicators.
#5 - November 28, 2025, 11:49:23 PM

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