✅ How to use the Fibonacci tool in trading?
🟢Determine buy points using the Fibonacci tool in trading.
The first thing you should know is that there are several types of this tool and we will only use Fibonacci Retracement and Fibonacci Extensions. You will find these tools very easily on the Tradingview application for free. There are different ways to prepare these tools before using them, and therefore we will present the most popular preparation method in this article#EarnFreeCrypto2024 .
🟢As we said, the best way to use the Fibonacci tool in trading is during trend times. You must first determine whether the trend is down or up. If the trend is up, you are looking for places for the price to bounce down in order to buy and benefit from this trend.
If the trend is down, you are looking for places of rebound, but this time in order to enter into short selling deals in order to benefit from the decline.