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Hey guys welcome back to kryptalina channel in this video I’ll go into more detail about the correct use of the Fibonacci retracement indicator the Fibonacci retracement is a powerful indicator that indicates when a pullback may be coming to the end however almost all people use this indicator
Incorrectly but you will know how to use the Fibonacci correctly at the end of this video but before we start don’t forget to subscribe to my free telegram group where you can find all my last crypto trades for free and also guys don’t forget to claim your personal
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Will be in the description and in the first pinned comment so let’s get started this video is sponsored by aafx company aafx company is an online Forex broker with its headquarters in Athens that claims to be regulated in Europe and offers an exceptional trading experience with outstanding customer support the
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Recommend you aafx all the necessary links will be in the description also by registering on my link you will get a nice welcome bonus in this video I will first give you the basic explanation of the Fibonacci indicator it’s namely important that you understand this indicator well before
You are going to get started with it after the basic explanation we will go deeper into experience trading strategies with this indicator which are only used by Pro Traders the Fibonacci indicator is well known indicator used by many people the indicator is derived from the Fibonacci lens that you find
Everywhere in the universe you can find this lens in Galaxy’s shells trees but also in the human body this lens represent an organic rule that is the same in almost every object in this world also on the price of a stock quote you can find Fibonacci lens by using the
Fibonacci indicator by means of simple lines which represent close percentages Traders can chart important support and resistant areas if you have been trading for any length of time you know that the stock price never goes up in a straight line it always moves in a zigzag the purpose of
The Fibonacci indicator is that you can start predicting the bottom of such a zigzag however the biggest problem with most Traders is the fact that they don’t know which Fibonacci level the price is making a pullback they use every line available on the indicator think and they can predict the exact button but
Let me give you some advice stop doing that the only level you need is the 0.786 level we only want to have the most important level on all indicators so before I explain the Fibonacci first go to the settings of this indicator and check only the 0.786 level in addition to the
0.786 level you will of course also to need the one and zero levels once you have checked this making the color of the 0.786 level green we do this so we can easily distinguish this level your indicator should now look like this using the Fibonacci takes some experience however when you understand
How to pull it off you will benefit greatly from it in simply words the price must first have a low point and then a high point in order to be able to extend the Fibonacci here we see an example on the price the price first
Make a low point and then it rises up once we see that we can draw out the Fibonacci from the low point to the high point this looks like this I now draw the lines of the Fibonacci a little to the right and you can see that the green
Line is handing below the price all we have to do now is wait for the price to fall towards this green line with want to see the price full because then we can make money when it rises again afterwards we always want to buy the
Price as low as possible and we can do that by using the 0.786 level now that the price has fallen towards this level you can do several things the most simple strategy is simply to open a position as soon as the price hits this level I will show you that first
As soon as the price hits the green level you open the position and put the stop loss below the last low then you set the target towards the top of the Fibonacci you see that with this I now obtain a risk rewards ratio this is the simplest way you can trade with the
Fibonacci indicator however if you want to look for several confirmations then you could use the moving average 50 100 to 200 the moving average also comes as a support level and if this exactly coincides with the 0.786 level of the Fibonacci then this is seen as a double support level from
Which the price could start to rise rapidly again I open my position on the 0.786 level and I put my stop loss below the last law subsequently I again achieve an ample risk report ratio of three when I pay out the position at the top of the Fibonacci and this is exactly
The point where you as a regular Trader can distinguish yourself and develop into a professional Trader I professional Trader always looks for multiple confirmation and don’t get me wrong about the 0.786 level there 0.50 or the 0.30 2 level can also work however I always want the price as low
As possible to buy a position if the price makes a relatively large pullback I earn more at the time when the price starts to rise again this way you’ll sometimes have to wait longer than for a pullback towards the 0.50 level but the profits will be bigger of course you are
Free to use information from this video for another Fibonacci level let’s make the Fibonacci strategy a little more professional I have a question for you do you already have a place where you trade in crypto if not I can recommend you buy bit by bit is a crypto exchange
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Worth up to 100 times more this allows your position to grow 100 times faster in profit or loss but this leverage you can earn when the market is rising as both when the market is falling obviously this is professional function and you shouldn’t use it if you are not
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Opening a position we have now talked about the most simple strategy where you just open the position when the price hit the 0.786 level and we have talked about adding the moving average to find a double support level but now we are going to talk about agent price action
We are going to look for real price action support or resistance levels which will end up exactly at the 0.786 level and supported resistance level can also be characterized as a trend line as we see here for example on the price we can pull out the Fibonacci
In this downtrend we now see that the price is making a pullback to the 0.786 level which is also exactly where the 100 moving average lens but in addition to that we see something else namely a trendline resistance we can draw a trend line from this that also lands exactly at the
0.786 levels so at this point you have triple resistance we have the 0.786 level itself next to it we have the moving average and next to it another trendline resistance so this is the ideal place to make a selling position you see this one obviously closeness and profit The point is that you as a Trader should always be able to find as many advantages for yourself as possible the more advantages you have the bigger the chance that the position will succeed let’s look at another example here on the course we see a clear Loop followed
By a clear high so we can pull out the Fibonacci once we’ve done that we see in this case that the 200 moving average also ends up at the 0.786 level in addition we see another support level which also lands exactly on the 0.686 level so here too
We can open a position with three confirmations you can see that these positions gives a low risk reward ratio than the other positions it differs with every position you can choose to place the stop loss below the 0.700 86 level to increase the risk reward ratio
However I would only do this if you have at least three confirmations you see that the risky moderation now shows up what you can also do is add the three moving average indicators at the same time on the price as you can see here I’ve added a 50 100 and 200 moving
Average indicators all three and this way you can easily see which moving average will end up at the 0.786 level on the left side of the screen we see the first High Point followed by the first low point so we can pull out the Fibonacci here however
What we see here is that the price is not making a pullback towards jet 0.786 level instead it’s already making a new low point so we need to pull out the Fibonacci again in this example the price does make a pullback towards the 0.786 level we also see the prices ended
Up on the 200 moving average in addition to this we see a trendline resistance and and also horizontal resistance we now have quadruple resistance of course we open our positions here this position gives us a risk reward ratio of over five then we see that the price makes a
New low again so we can once again pull out the Fibonacci again price comes back to the 0.786 level and the 200 moving average in addition we still have the same trend line as just now possibly you could even say that there is also a half horizontal
Resistance level so we open our position here again you can of course choose whether to place the stop loss above the last high or about the 0.786 level in both cases the position close excellent in profit if you trade exactly this way and always make sure that you can find several confirmations
Before opening a position then I can assure you that you will trade like a pro and burn like the top one percent Traders do I want to thank you for watching this video and I look forward to see you next time that’s all for now bye
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Day Trading for beginners. In this video you will finally discover how to trade well with support and resistance, the foundation for profitable trading.
in today’s video i focus mainly on the novice traders who are not yet profitable. However, if you’re already a profitable trader and you want to expand your knowledge you can of course also watch this video. This is because in this video i take you through one of the most important
Strategies you need to know as a trader. Namely, the support and resistance trading strategy. The most successful traders in the world all trade with support and resistance, but novice traders don’t always seem to want to learn it. That’s why i’m helping you out today.
Trading on support and resistance is still perceived as difficult by beginners but actually it’s quite simple.
You just need to figure out how it works. After watching this video you’ll know exactly how to find support and resistance, how to trade on support and resistance, and how to earn a full-time income with this. As the title indicates you can easily turn 100 into ten thousand dollars with this strategy.
The information on this YouTube channel and the resources available are for educational and informational purposes only. The content of this YouTube is not an investment advice, financial advice, trading advice or any other advice or recommendation.
AFFILIATE DISCLOSURE: This video and description may contain affiliate links, which means that if you click on one of the product links, I may receive a small commission. I won’t put anything here that I haven’t verified and/or personally used myself.
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