BC FIBONACCI
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🩸FIBONACCI retracement and GOLDEN RATIO - PART 2

Before we move forward, kindly like and retweet if you find our content is adding something to your knowledge.

 We have described how interesting Fibonacci numbers and ratios are and how it's been formed in PART 1 of this series. In PART 2, Lets see how we take trade based on fibo.
🎯How to draw Fibonacci levels?
Drawing Fibonacci retracemnts are fairly simple. The main point we look into is, If the direction of retracment is up or down side.
✅ If the trend is up, choose lower point and a higher point. Connect lower point with higher point using Fibo tool.
✅ If the trend is down, choose higher point and a lower point. Connect higher point with lower point using Fibo retracement tool.
🎯How to choose lower and higher points to connect?
✅Take lower point as point from where the trend has started, which means one should not take points where consolidation was going on.
✅Similarly, for higher point, choose the point from where the retracement of trend has started.
The choice of points is debatable. There is no fixed method. But above mentioned technique works and has a fair probability of success.
🎯Which fibo ratio has a higher probability of success?
✅0.618
✅0.5
In an up trending stock, If stock starts consolidating and reversing from 0.618 of retracement, we term it as bullish sign and trend is going to be continued towards new high.
If the stock is hovering between 0.618 and 0.5, it can also be termed as bullish sign, but we can wait for small dip towards 0.618 levels and enter OR we can enter in parts of quantity. We always have to keep some buffer point below 0.618 as STOP LOSS
🎯Once you find out such stock and enter, ride the trend towards new highs. All other ratios can be ignored or can be monitored to see if the stock is taking resistance at those levels.
🎯If you find any swing supports/resistance at 0.5,0.618 levels, its an added advantage to the conviction and pick can do wonders and give higher probability of winning
🎯Time frame can be daily and weekly charts
🎯Here is one example where we have taken the trade and rid the trend.
🎯We have several techniques to take a trade in the technical world. But practice one or two methods repeatedly and master it. Don't be a victim of analysis paralysis by applying every method.
🎯One ongoing stock based on fibo is below. Lets see how it performs in coming days..
🎯The method is not foolproof. But has higher chances of winning. After all, market is supreme.

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Ever wonder why a price corrects after opening gap up or price moves up after a dip.
Have you noticed this in stock market?

This phenomenon is called Climax.

This thread would on
"How to trade Climax"

Like 👍& Retweet 🔄for wider reach and for more such learning thread.

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So far, nobody shared or discussed Climax phenomenon and this was just a mere observation for us.

If you haven't seen any example of climax yet, then let's see an example:
This happened with Tata Steel today in intraday today.

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Climax is the last/ending phase of the trend in stock market.

There are two types of climax based on the trend in market:
1. Bullish Climax
2. Bearish Climax

Shared example of both below.

Let's dig into each of these and see what would be a trading setup.

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Bullish Climax:
As name suggests, it is the ending phase of bullish move/trend. After this price starts downtrend.

Setup:
1. Price should open gap up by over 2%
2. Mark mid point of opening candle. Go short if price is below this.
3. Opening candle's high would be stoploss

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Use this climax trading setup only in #Intraday and use 5 mins time frame chart.

Let's see an example of a bullish climax that happened in Tata Steel today.

Entry got triggered (1317) at 9:20pm when the candle was below the reference point. Trailing SL got hit at 1286.

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Data says 81% of people trade these patterns incorrectly, and you might be one of them.

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Ascending triangle is created by price moves that allow for a horizontal line to be drawn along the swing highs and a rising trendline to be drawn along the swing lows.

Horizontal line is the resistance, trendline indicates higher lows, i.e. uptrend.

It is a bullish pattern.


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Start fibo retracement from swing high, not the other way around. Simply 0 point should b where retracement started
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90 million active demat accounts in India.

Less than 1% understand Fibonacci retracement.

This mega thread will help you understand better—starting today:

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1/What is Fibonnaci (Fibo) retracement?:

•Fibo retracement levels help us to identify potential reversal area or identifying potential entry point after a pullback.

•It represents various levels of significance within a swing high and low.

2/How to plot the Fibo?

•Spot the recent swing high & swing low (usually a peak & a low) on a chart.

•Plot the Fibo on these points.

•You'll get 5 key levels of support & resistance (S/R) in between the peak & low.

•Key Fibonacci ratios: 23.6%, 38.2%, 50%, 61.8%, & 100%.

3/ Importance of retracement levels:

• The retracement level forecast can determine the level at which retracement is likely to occur.

• These retracement levels offer traders a favourable entry to open new trades in the direction of the trend.

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I realized yday that nobody in my pretty large circle knows how fib levels are calculated on log scale. So here goes:

1. Take the highest high (HH) & the lowest low (LL) of the range
2. Next, take the natural log (ln function in excel) of the ratio HH/LL.

3. So, you now have the log returns, really the best way to measure them. Call it R.
4. Now take the difference between the natural log of HH and the fib ratio multiplied by the log returns
5. Say, ln(HH) - (0.382*R). Call it A
6. Finally, take exp(A)

That will be the level which corresponds to the 38.2% fib of the range between the HH and the LL on a log scale basis.

Big shout to to Dr Strange aka @shetty_ashish for this.
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