What is Fibonacci Indicator?
Fibonacci Indicator is a leading indicator that can help you find and predict the Support/Resistance price of a stock that gives you a good idea where you should buy and sell your stock/currency. For those new, Support Prices are basically the price that the stock will hover at the BARE minimum where a lot of people are playing a Buy Limit Order at which indicates that you should BUY to profit. Resistance Prices are prices that will hover at the MAXIMUM where a lot of people are placing a Stop Loss Order at which indicates that you should sell here to profit as either side will likely tilt towards a reversal/downfall towards the other end due to large amount of sellers/buyers. ~ Unless it breaks through the resistance/support.
The concept of Fibonacci is quite complicated for those who aren’t studying finance, but in brief, Fibonacci Retracement Trend Line is a line that is drawn to indicate bullishes/bearishes using an arbitrary magic number (23.6%, 38.2%, 50%, 61.8% and 100%). If it goes up – yep bullish, if it goes down, – yep bearish.
This guide will teach you everything you’ll need to know to get an accurate reading on whether the stock is bullish or bearish purely on the Fibonacci Indicator. For a more accurate assessment of the stock, you should definitely consider pairing it with other forms of indicator to further enhance the odds of your successful predictions.
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