Investors who believe that the market is going to rise are called bulls, and bears are those who have a completely different opinion and are betting more on the idea of a downward trend in the market.
This is why we find the expressions "Bull Market" and "Bear Market". These expressions are synonymous with bull and bear markets, respectively.
Fibonacci levels are plotted by taking a high and low (the sharper the movement the better) on the price chart and plotting the 23.6%, 38.2% and 61.8% ratios horizontally to create a grid. .
These horizontal lines are used to determine price reversal points.
✅ After a large rise in price, traders will measure the movement from bottom to top to find how far the price could retrace before recovering and continuing in the overall uptrend.
✅ After a large drop in price, traders will measure the movement up and down to find where the price could retrace before correcting lower and continuing in the overall downtrend.
Fibonacci retracements in trading are primarily used as part of a trend trading strategy. In this case, traders can use Fibonacci levels to try to open low risk positions on trend reversals.
The RSI indicator or Relative Strength Index, translated as relative strength index, is an oscillator that measures price strength. It seeks to measure how quickly the price of an asset rises or falls in a given period. Graphically, the RSI is in the form of an oscillator that moves in a range from 0 to 100.
The so-called overbought or oversold zone occurs when the indicator level is above or below an established level. When the RSI is in the overbought zone, bullish exhaustion is expected and conversely for oversold conditions where the price is expected to rise.
The classic configuration of the RSI is to work it in 14 periods in terms of the price of the asset, taking level 70 as overbought and level 30 as oversold.
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