Trading Fibonaccis: A Complete Trade System in One Tool? | Getting Started with Technical Analysis

Getting Started with Technical Analysis | Cameron May | 8-27-24

What are Fibonacci Retracement Lines, and how might a trader use them to make short-term stock trading decisions? In this video, we use a series of example charts to explore precisely how Fibonaccis are built, and we discuss how a technical trader might use them to make a trade plan for a stock that has been rising rapidly.

Join us each week for this beginner's guide to chart analysis. Your education coach will carefully demonstrate the technical and analytical tools available through a variety of trading platforms and will use real-time examples to illustrate common charting techniques, including such concepts as trend identification, support and resistance application, and the usage of candlesticks, price patterns, and oscillators.
0823-3USU

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[davidibiyemi]

Fantastic, thank you very much Sir for this enlightenment

[CharlesAgha]

Hi Cameron, Great Class as always, Thank you!

[Cezlee]

Hi Cameron, could I use this on the 5min TF?

[ameniayoga]

Hi, Great class! I am wondering if you have your retracements on a particular setting when you draw the Fibonacci because when I draw mine from top to bottom. I do not see the extension lines above 100.

[somasrikanth]

I have a question about drawing Fibonacci lines. You mentioned that Fibonacci lines should be drawn from the recent high to the recent low. However, my understanding is that we typically draw Fibonacci lines from the recent low to the recent high to identify the Fibonacci levels where momentum might be holding before a potential continuation of the trend. On the other hand, drawing Fibonacci lines from the recent high to the recent low is useful when there’s a horizontal breakout, as it helps to determine potential target levels, such as the 161% extension.

Is my understanding of how to draw Fibonacci lines correct?