•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.
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•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.
•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%.
• 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.
•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.
•Though it can be used on any time frame, for better results apply it on a higher TF, anything beyond 30mins.
•Higher the TF you choose, higher would be the holding period for the trade.
•Best TF to choose: Know your type & trading style.
• I look at larger TF's only for positional trading/ investing.
• While choosing a stock to get an entry, then I will focus only on strong fundamental companies.
• Can be used to make investment decisions in sectoral MFs or Index BeES.
•Lets say, you always wanted to purchase few qty of #DMART, but were unable to do so due to a rapid run-up in the stock.
•So wait for the stock to retrace for a favourable entry.
•P.S.: Like any indicator, use this as a confirmation tool.
• First use the Fibo tool and plot it on the swing low and pull it up till the swing high, thereafter the FIBO ratios will get plotted automatically.
• Use the Fibo tool and plot it on the swing high and pull it up till the swing low, thereafter the FIBO ratios will get plotted automatically.
• 23.6% retracement is rather shallow & is appropriate for flag breakouts or brief pullbacks.
• 61.8% retracement level, aka the golden ratio is relatively deeper, but crucial.
• Retracements between 38.2% to 50%, is regarded as moderate.
• Few months ago, one of the super trader @bhatiamanu Sir, had tweeted that he would look to start investing near 13k levels on Nifty.
• This number was arrived from Fibo retracement (refer chart 2)
• Unlike Nifty, which didn't even retrace by 38.2%,there are sectors which have retraced > 38.2%
•In other words the correction was relatively deeper than Nifty.
• Those sectors are essentially underperformers:
i) NIFTYIT
ii) NIFTYPHARMA
• A trader can consider taking entry basis Fibonacci retracement only when other conditions are also fulfilled:
i)Formation of a reversal pattern
ii)The pattern formation & the retracement level should form near the long term S/R.
iii)Always have a Stop loss.
• This is just the tip of the iceberg when it comes to Fibo retracement.
• I encourage you to do some back testing of your own on different TF's and check the results before taking entries.
• Also remember nothing works in isolation.
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More from Fibonacci
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
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
Similar views (shared Yesterday) Aneesh Bhai\U0001f447https://t.co/UxJZFdWJxh
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First thread of the year because I have time during MCO. As requested, a thread on the gods and spirits of Malay folk religion. Some are indigenous, some are of Indian origin, some have Islamic
Before I begin, it might be worth explaining the Malay conception of the spirit world. At its deepest level, Malay religious belief is animist. All living beings and even certain objects are said to have a soul. Natural phenomena are either controlled by or personified as spirits
Although these beings had to be respected, not all of them were powerful enough to be considered gods. Offerings would be made to the spirits that had greater influence on human life. Spells and incantations would invoke their
Two known examples of such elemental spirits that had god-like status are Raja Angin (king of the wind) and Mambang Tali Arus (spirit of river currents). There were undoubtedly many more which have been lost to time
Contact with ancient India brought the influence of Hinduism and Buddhism to SEA. What we now call Hinduism similarly developed in India out of native animism and the more formal Vedic tradition. This can be seen in the multitude of sacred animals and location-specific Hindu gods
i wonder if you can make a thread bout witchcraft in malaysia.. or list of our own local gods/deites..
— r a y a \U0001f319 (@lcvelylilith) February 20, 2020
Before I begin, it might be worth explaining the Malay conception of the spirit world. At its deepest level, Malay religious belief is animist. All living beings and even certain objects are said to have a soul. Natural phenomena are either controlled by or personified as spirits
Although these beings had to be respected, not all of them were powerful enough to be considered gods. Offerings would be made to the spirits that had greater influence on human life. Spells and incantations would invoke their
Animist ceremonies of a religious or magical nature were normally held for the purpose of divination or making a request. This would either be done at a keramat or at a shrine similar to the Thai spirit houses or Chinese roadside shrines pic.twitter.com/I1hliyi0x3
— \u2745\u1710\u170b\u1713\u170e (@uglyluhan) June 16, 2019
Two known examples of such elemental spirits that had god-like status are Raja Angin (king of the wind) and Mambang Tali Arus (spirit of river currents). There were undoubtedly many more which have been lost to time
Contact with ancient India brought the influence of Hinduism and Buddhism to SEA. What we now call Hinduism similarly developed in India out of native animism and the more formal Vedic tradition. This can be seen in the multitude of sacred animals and location-specific Hindu gods
Krugman is, of course, right about this. BUT, note that universities can do a lot to revitalize declining and rural regions.
See this thing that @lymanstoneky wrote:
And see this thing that I wrote:
And see this book that @JamesFallows wrote:
And see this other thing that I wrote:
One thing I've been noticing about responses to today's column is that many people still don't get how strong the forces behind regional divergence are, and how hard to reverse 1/ https://t.co/Ft2aH1NcQt
— Paul Krugman (@paulkrugman) November 20, 2018
See this thing that @lymanstoneky wrote:
And see this thing that I wrote:
And see this book that @JamesFallows wrote:
And see this other thing that I wrote:
