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I have started learning to Forex trade and came across Fibonacci when reading Trading stratgies by Mark Swing. He uses them in conjunction with Elliot waves or the ABCD pattern, this vidoe is brilliant! You mentioned on your video you offer free lectures, how do I sign up please if you are still doing them
@@lewisstier9094 Thank you for your kind words! You can join our free futures masterclass and highly recommend you join our free membership that provides various futures trading lessons. Happy Trading! Futurues Masterclass: tradeproacademy.com/futures-masterclass/ Free Membership: members.tradeproacademy.com/free-membership-application/
The Presentor was most impressive! I am a retired Managing Director of an International Financial Derivatives Group (IFFO) for an Elders, IXL, an Australian Investment Bank. IFFO had Institutional brokers covering the CME, CBOT and LIFFE including a prop trading group. I have seen and given many Tuturials, and this presentor is of TIER I quality - intensely knowledgeable - Confident in his expertise as evidenced by a most relaxed, but concise tutorial. Thank you for your wonderful contribution. My best - Sean
Finally a good explanation on Fib! But I still don't understand why one would choose to use Fib over shape/pattern analysis. Fib is fun and very cool when it works in back testing, but in the moment, it can be very misleading. You should use confluence with market conditions and support/resistance to confirm of course. But at that point, I find all I've done are draw a bunch of pretty pictures on top of the more useful analysis I already did :/
You are a legend man, thanks for sharing your knowledge! I just applied what I learned on this video plus using VWAP and 200 EMA and just made 15% on my first trade.
You drew the same exact retracement at 6:00 and at 7:06 which is why we're "getting" confluence. Can you explain why you did that? I'm not convinced the confluences you showed are valid now.
Maybe he made a mistake? He talks and draws fast so he was probably doing too many things at once. I highly doubt he did on purpose just to show key confluence areas.
Question: for fib time; why did you choose that low instead of the one before that which is lower. And why did you choose the 2nd retracement for B point where there was another retracement before it?
What's the maximum Anthony? Comeon! Haha jk. Thanks for your comments and I'm happy you enjoyed the video. We have a lot of great education videos on RU-vid and in our membership site. If you have any questions let me know personally - i"M here to help . -George :)
Hello, thanks for sharing all details, but i am just beginner and i started trading on mobile so can u pl tell me what values should i enter if i am doing trading in live market and mkt has just begin 30 mins before or before 30 mins closing.as in mobile drawing tools are not visible , what is visible is style, coordinates and visibility.in style dropdown there are trend line , levels line, extend lines,,background , reverse, prices levels,>values ,percents, LABELS > LEFT, TOP ,MIDDLE ,BOTTOM and fib levels based on log scles option. Next tab is coordidates > price bar1 and price bar2 and the last tab is visibility >minutes, hours ,days, weeks and months option .pl guide me how can i use it accurately on mobile.thanks and regards
I'm wondering whether Tradingview offers the use of Euler functions in its toolbox? Like, I know from Math that Euler's constant shows up in growth functions, so I'm wondering whether any of the tools use it
Cool, now I know many of the awesome tools I'd always hear about! Ichimoku Cloud, Fib Retracement, VPVR, MACD, RSI, sRSI, candlestick patterns, diagonal lines of confluence, flags, pennants, and divergences, alright!
Hey Cayrick, thanks for commenting. The fib at 12:19 was a retracement level, however, at 12:35, we use the fib extension tool to mark out the extensions of the previous retracement. Above 1.0 would be your extensions! Hope that helps - Mark
You do it from when the trend starts, and not based on a specific time frame. So go from trend lows to trend highs, and then the pullback on Fibs is relevant. Make sense? - George
Hey Guy, Man, Dude. First of all, love the name! That's a great question. In the case of a bearish market, you will want to wait for a swing low to form (market to stop dropping and start rallying). Once this happens, then you can pull out the fib tool and start from the high of that impulse move to the low of the impulse move to get the correct levels! Hope this helps! Cheers - Mark
Thank you so much for watching and commenting Ezie! We are so happy to know that our video was helpful to you. Stay tuned for many more of such videos. Wish you all the very best in your trading journey!
Brother how to set up Fib levels on charts if i want to trade for intraday or say weekly, So from which point i shuld place fibb formula on the chart. Does for intraday i have to put it for previous whole day? or for weekly do i have to place fibb levels for previous whole week on the charts, Can u please explain me ?
Thank you for the video. On 14:12 minute you say: "that there are very few things give us time or horizontal resistance levels." Can you tell me which other tool or indicator, you use to find such time/horizontal levels? Thank you in advance. Continue with great work.
This is an OLD video, what I think I meant was that the time projection is terrible at horizontal levels. Good horizontal support and resistance tools are price action, volume profile charts (which we have a great video on our channel for) and Fib retracements. Hope this helps - George
How would you use the fib retrace tool in a down trend? Would you still look for the low and entend it to the high that is now on the left hand side? Thanks!
really nice tutorial. I tried mapping the same levels as yours on this chart and the historic trend has been on point. Wish i could share that screenshot here
How to compare 2 pairs with regular price scale? When I add a pair to compare, it autmatically changes to % scale and if I want to change the scale back to regular, because of a divergence of prices charts are far away from each other and totally flat...
Hey Shan, thanks for watching. I don't believe that you are able to compare 2 pair with a regular price scale. Check out this link for more information regarding the Compare feature in TradingView - www.tradingview.com/wiki/Compare. I appreciate you - George
Hi there, but instead of using fib extension could I just reverse the retracement grid starting with 0 for the low and 100% for the high? It just gives me the same levels as the extension tool!
Yes, you can reverse the levels, but when you are doing a trend based fib retracement you have to remember the distance is being calculated from point B high to point C retracement, not from A low of move to B high. Hope this helps.
Hey Yomajo, a lot goes into "knowing" when an asset has topped. The more analysis tools that line up the more likely it becomes. However, remember that no one knows what will happen. The most important information we don't have yet. It's all probability. Tops are tricky because it's both buyers and short sellers buying to get out that drive the upside. Watch volume, Fibonacci, trendlines, horizontal resistances, etc. Our Foundations Course is jam packed with this info. Check it out, it's included in any of our subscriptions: www.tradeproacademy.com. - George
I'm not talking about the actual top. I was posing a critisism on the top you have been using in your example. Meaning we don't know if that is a top. And if we don't, the whole Fibonacci stuff is useless. Isn't that the case?
Fibonacci is just one other tool of finding support, and it's a self fulfilling prophecy as most traders use it. The most powerful "support" level is the one that has multiple supports from multiple tools. Use it in conjuction with candle sticks. Yes, Fibs can be applied to any and all time frames.
Why isn't TRADING VIEW SCREENER giving me LIVE results PRE MARKET even though I have a PRO paid subscription and paid REAL TIME MARKET DATA for NYSE, ARCA and NASDAQ?
Hey Ebenezer, thanks for watching and I'm happy to hear this helped. We got a lot of awesome content coming, hope to see you in our TRADEPRO family. - George
Thank you for this great video, very educational. It was really clear, easy to understand and to the point. Now I understand how Fibonacci Retracements works. 🙏
Very nice video about Fibonacci, thank you. Added to my "Learn Trading" playlist (that I will recommend to my friends ans subscribers) and subbed. Cheers
How do you hedge on Tradingview? When I program a strategy to long and short, they seem to interfere with each other or cancel each other out. I want to be able to long and short using only 5% of my funds and be in several trades while others are being executed and closed, without any trades interfering with each other. Anyone know how to do this?
If you're expecting anything to work 100% in this business, good luck. You can make money with a 40% win rate, it isn't necessary to be right. Right feeds the ego, money feeds life. Here's a challenge for you, apply it to at least 300+ stocks, write down how many times it did work, and didn't. You don't have to predict, you're not Ms. Cleo. Good luck. Sending you love, joy and happiness - George
Hey Elvis, no such thing as a silly question, only one you don't have an answer to yet. :) Now to answer the question, Fibonacci is one type of support / resistance level you can use. The real power of analysis is when multiple studies and methods produce a similar level. So if Fibonaccis is saying level $x, and so is horizontal support, and a trend channel, it becomes that much stronger. Does that make sense? If not, let me know any follow up questions and I'd love to explain it to you further.
Thanks for commenting and watching. What do you want to learn how to trade? What time zone are you in? Depending on the answer, my suggestions will vary greatly. :)
GMT +7.In fact, I trying to learn some key technical analysis of trading! :). Sorry, I cant find FIB tool on my tradingview chart(FREE ACCT), as where it is in this video. Please help me?
Hi Phong, look at the top left, an icon that looks like a pitch fork. Click it and it pulls up all the Fibonacci tools. You will then see retracements and extensions. We also provide a full step by step course on technical analysis in any of our packages, it starts with the basics and builds up gradually, including a workbook, videos and quizzes. Check it out here: tradeproacademy.com/pricing/
You're welcome Steven, thank you for watching and sharing some love. More awesome stuff coming out soon. Happy to have you in our community. :) - George
What if you have lines that confluence but they aren't the same key fibonacci ratios? There are no same ratios that confluence. Am I doing something wrong?
Roy, as long as the levels align together they are considered confluence. No two ratios will ever line up, unless the price action you select is the same, does that make sense? The importance is that they DO line up, not which ones in particular. Hope that helps pal. - George
Gotcha, I asked that question because at 7:09 the 0.236 ratios lined up, and when I was following along with another chart I didn't have any same ratios line up.
I was taught that fib retracements are for ranging markets and extensions are for trending markets. Here you are drawing fibs on a trending market. Why?
Hey Cayrick, fib retracements are quite subjective and can be used in either ranging or trending conditions. There is no right or wrong here, all depends on the individual trader. At the end of the day, you are simply using the fib tool to add confluence to an idea. In trending markets, the fib retracement will give you an idea of where a pullback might reach into, whereas, the fib extension gives you an idea for potential targets after a pullback has taken place. Fibs hold a bit less relevance in ranging markets, but can also be used to identify support/resistance levels within the overall market range. Hope this helps! - Mark
+rey2k Thank you! Designed specifically for you :). We go into a lot more detail in our Foundations Course, the first 8 lessons are totally free and provide a LOT of value. Not just the technicals, but also on a psychological and preparation level. www.tradeproacademy.com/freetrial Here for you if you have any questions! Cheers.
Hi Darren, I have used it successfully on a 15M and even 5M charts, including 4PNF and 387 tick (non-time based charts). It really depends on the product you are applying it to. What do you trade?
Try using Fibonacci in Daily, 4H and 1H charts to set levels. Once price gets into your level, look for qualifiers to execute your trading plan. Fibonacci is excellent to give you zones, but you need more precision for execution. ( I rely on order flow and pure price action - plus the concept of trapped traders - checkout our recent blog post for more details on that).
Hey Damian, the Fibonacci tool is free, but you may have to sign up for a free account to use it. It is not a premium feature however. Hope this helps.
Hi Dean, yes, Fibonacci analysis works on all time frames. In fact, when the levels line up on multiple time frames you get concrete supports and resistances. Part of what makes them so effective is the self-fulfilling psychology of the tool, and the fact that many traders use them. Fibs are very useful for forex and stocks, but don't work as well on lower time frames on futures. Would love to discuss further via email or Skype if you would like. Let me know and we can connect. Good luck and good trading!
