Technical Analysis post #5 Fibonacci:

What is fibonacci? And how will it help us in our trades?

The Fibonacci is a chart tool that will help us see future impulses and retracements.

It will be used when we have an upward or downward trend, and to use it we will mark from the beginning of the impulse to the end or until a red candle is shown.

The Fibonacci shows us several zones in which the price can rebound but there are 2 zones called Golden that are more likely, which are "0.5-0.61" and "0.78-0.88"

We can also measure the next impulse using the "-0.27 -0.41 -0.61" zones, which we will call profit-taking zones.

When placing our entry we will enter the Golden zones and we will place our take profits in the profit-taking zones. It is important to clarify that the greater the distance, the lower the probability that we will have of closing in profits.

The Fibonacci respects all temporalities and although it is a useful tool as players we cannot depend on just one tool to operate, we must know how to read the volume, identify orderblocks and look for trigger candles as we explained in the previous posts.

In the image I leave 2 examples, one of PendleUSDT and the other of BTCUSDT

Thank you very much for reading the complete post.

I would also like to thank those who like, follow me and share the post, I like to continue growing and teaching with you, have a nice day of earnings see you later.

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