🩸FIBONACCI retracement and GOLDEN RATIO - PART 2
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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.