How The Pro’s Trade Using Fibonacci Retracements/Extension Technical Analysis

https://www.stock-market-strategy.com/tutorials/fibonacci-retracements-extensions Stock Market Strategy has put together a video to explain how professional traders use Fibonacci Retracements/Extension for entering high odds trades and for profit taking. Fibonacci is explained and pointed out on charts so you can see how it can be used and implemented into a trading plan to become a profitable trader faster.
Fibonacci Retracements is one of the most used tools for entering trades in the stock market. Understand the formula and how it is calculated to really start believing in this stock market indicator for better implementation. We hope you enjoy the video.

Direct link to Fibonacci Retracements/Extension Page:
https://www.stock-market-strategy.com/tutorials/fibonacci-retracements-extensions

Comments

Stock Market Strategy says:

@DouglasIIII Thank you very much for your kind words.

Stock Market Strategy says:

If you are talking about approximately 1.10 mins in then it is simply to explain how the retracement works. If it was live trading then I would of course always use the recent price action.

Kekklekreampied says:

For trading, It’s all about the experience, the more you work with it the better you get at it. But don’t spend too much time in the game, cause it’ll start to kill you. “words of wisdom from my father”

kadeem t says:

what charting software are you using

ZeraYaqob says:

it works if everybody believes it works, then you can predict where money moves and bet accordingly.

Dumidu Karunanayake says:

why all these people are so concerned about the software being used? It is all about your trading strategy and your skills which make you a good trader. Try to learn the video, Don’t worry about the software. another great video by stockmarketstrategy.

IIllytch321 says:

I only watched this once as a neophyte in the stock arena, but how is this anything more than numerology? I must be missing something. I guess if every single trader based their moves on this kind of indication it would be more useful, but psychologically that is absurd. I don’t know, I must be missing something as this just seems ridiculous, heh.

Stock Market Strategy says:

Check private message

OIdiesCentral says:

Can’t argue with that.The more tech.stops are lined up at the same time,the harder it gets for the market to pull a surprise move on you,unless at the multi signal stop happens at a job number or CPI data release.Thankfully,they only happen,once a month.

13jpereira says:

Interesting comments below. That being said, if anyone is looking for the actual link that is being talked about in the video, here it is:
http://www.stock-market-strategy.com/?video=fibonacci

Bang Era says:

Thanks nice information……

FinalDaysFlock says:

why do people use red on black? I can’t see red on black.

John Jiang says:

what chart software are you using?

Kris Assaley says:

Real Pros don’t use any of this stuff, not even charts…all the technical analysis junk is for retail traders that don’t make money in trading.

The Channel says:

That first pull back that didnt reach the 38%, if you had the 23% line on then I guarantee it would of lined up with it when it pulled back, a 23% retracement is a ultimate uptrend, how come you dont use the 23%? and also the 76% is extremely useful after you predict the top of a trend you can go off 50% and tell a future low by dragging it down to the original 50% of the previous trend

forexth says:

thanks for technic

Stock Market Strategy says:

Check private message

Jeevansh Mangat says:

hi

Captain Razza says:

whats the software?

Wak3UpZombi3s says:

:D…

captainplanet999 says:

for the record you didn’t specify how to draw the second fibonacci extension, which makes most of this pointless

plus you should hide future performance so we can see how it would play out when you don’t know imminent performance of the stock at hand. when it is clear that it will keep going up because you show it, that doesn’t help someone who is looking at future periods with no filled in values(because it hasn’t happened yet)

Thailand Expat says:

What is the minimum timeline that you can trade, use Fibonacci?
– Hour Bars or Day Bars or 15 minute intervals?

Can Fibonacci be used on Equities? Or is it really just good for Currency?

Chinabrown88 says:

Most people don’t give information on the time frame of their chart analysis. I was wondering what general time from do you look at? Day? Months? Years?

GoodBoyFx says:

excellent! i never understood the extension targets. Your extension from triangle makes sense. I am v. impressed. Specially recently i’m growing to view Fibonacci retrace/ext to be very powerful tool N may even in coming days call it THE main tool a trader should master. Would you agree? or do u have feel other ALT. tools think are better. Ofcourse the default understanding is NO tool tops the money mgmt/position sizing. your insight please.

Stock Market Strategy says:

@KluizyKT Check private message

Stock Market Strategy says:

I agree. The software is only a tool in your trading. Even the best software out there will not make you profitable if you are lacking the education and/or discipline.

Stock Market Strategy says:

This is a daily chart. You can see the date in the bottom of the chart.

TAC k says:

Already said yes, but what charting software do you use ?
Cheers.

Stock Market Strategy says:

Normally you just take the low of the move and the high of the move. However sometimes you might adjust the low or high if the these are created on the basis of a spike in price. If price haven’t really traded at the price more than a split second then you might want to take the close of that bar.

MrSalyne says:

Really good video ! 🙂 thank

Younes Sand says:

How to Color Fibonacci Lines by different colors

The1Mr0Keeffe says:

Thanks for the video, is there any chance you could private message me the software please?

Bradley C says:

dont understand anything……

DouglasIIII says:

Wow the trader speaking sounds competent, and the information being talked about is actually useful in the real world/market, bravo.

timpit25 says:

Thank you Phillip , it was valuable to me

Stock Market Strategy says:

@meesphht Sorry to hear that. We are using black chart simply because it is easier on the eyes when we look at charts for so many hours.

Stock Market Strategy says:

Very good advice your father gave you…..

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