1.
Start fibo retracement from swing high, not the other way around. Simply 0 point should b where retracement started
2.
The base should b chosen as major swing low. Can't just pick a random point

If u are looking to enter a scrip just before the breakout
what would u look for?
How would u identify scrips just before breakout?

Here are a few pointers
Carefully understand the them and use at ur own discretion
(All comments r compiled from a question i posed)

1/23

Price is testing the same resistance repeatedly since long.
But now in recent times it's forming multiple candles near the same resistance with low volume.
Observe it and see for opposite move.
As soon as u get a positive candle, get in to it.

2/23

1. Volume buildup (vol > when resistance point created) along with, increase in OI, increase in delivery % on HTF
2. On LTF, price stalling around breakout area for at least 1-2hr.
3. No major events.

3/23

Stock reaching breakout LVL with HL-HH
Contraction of price and volume near it especially near 20 days ma.
If there is any breach of the latest HL it should be followed by a bullish candle with good volume.
Left side of the chart has a rally with a very steep slope of ma.

4/23

Number of wide range green bars with high volumes.
If stock is at its ATH then it adds more conviction bcz there wont b supply after that point

Consolidation below the resistance, volume of the candles & strong bullish candle closing at near highs just below the resistance

5/23

Pullback Trading Strategy

Stock Selection: Stock under major uptrend with higher swing highs and lows since last one year
Trade location: Pullback to 20SMA after making a higher high
Trade set up: Candlestick Reversal Pattern with high Volume
SL: <20SMA of low
Target: Breakout

Swing trading set ups

1. Pin bar at 200EMA in daily TF
2. Stocks riding through upper Bollinger Band in daily TF
3. Hidden bullish divergence
4. Price at horizontal channel bottom
5. Anchor vwap support from past major swing low
6. Price retesting previous ATH after breakout

These are the books i talked about

1
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2
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3
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4
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5
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6
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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:

Collaborated with @AdityaTodmal

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.

4/ When to apply Fibo:

•Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices.

•Applying it in range bound markets would turn out to be a futile exercise.

Here's my video simplifying trend-based fib extensions! I use them quite often to find resistances and supports + targets.

This one's only on YouTube as @tradingview failed to upload

Fibonacci numbers/ratio are an integral part of technical analysis. Entire concepts and trading theories were based on them.

Traders always strive to get into a trade at the right moment. What would the right moment

The wonders of Fibonacci 💛

Look at this Fib channel on $LTC
all the way back to October 2020.

And then look at the lower timeframe 😱
WT*

OCTOBER HAHAHAHA😱

JUNE!!!!!!!!!!!!!!

OMG

🩸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.