How to Use Fibonacci Retracements in Tradingview
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- Опубліковано 29 вер 2024
- How to Use Fibonacci Retracements in Tradingview
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Fibonacci sequences have long secured their place as one of the most reliable technical analysis tools. Using them properly is an art, and we explain how to use them briefly with TradingView.com's free charting software.
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#FibonacciRetracements #Tradingview
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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!
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I'd advise newbie traders to take this video seriously, trading with fib can be complex and this video did a good job of shedding some light. However, if unable to trade on your own, there's no better approach than having a professional handle your trades for you.
True, but for the majority of newcomers, pride, skepticism, or overzealousness cloud their judgment. Only a select few will adopt the prudent course of seeking help from experts, and those select few would undoubtedly go on to become successful.
Do you have any recommendations of a pro, I'm new to this and would really appreciate some help.
@@eltonsawyer5894 I can only speak for LEONARD BRACHER. he's been my FA since '17. I was able to get out of crippling debt and double my networth within 3 years of having him handle my investment.
@@sigrudtokmen Totally agree with your original comment there. Even though I didn't begin investing until I was in my 40s, I was able to secure enough money for both my wife and I to have a retirement fund. Without the help of a financial advisor, this would not have been possible. Cheers
@@sigrudtokmen I appreciate your response sir, how can i reach out to him?
best video i found on fib. made it as easy as it can be .thx
Thank you so much! Glad we could be of help.
How can I see the 0.702 extension? It doesn't seem to be there.
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. 🙏
Hi Eddie, thank you so much for your kind words. We are glad you found our content helpful.
thank you so much
Here after the foundation course lesson 6
Do you use the brush from TradingView, to draw all over the graph like this? Thank you in advance?
How do you know if the trend has topped? Shouldn't we use Fibonacci when the trend reversal has been confirmed?
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?
Thank you very much . I learned a lot . :)
THANK YOU. GREAT TEACHER AND COMMUNICATOR.
Thank you Bob Lee Satoshi, for watching and for your warm comments we appreciate hearing from our awesome community. More awesome content coming your way. :) - George
Quick, cool, succinct. Diving into crypto. Thanks for your knowledge and help. My best from Bali, Indonesia.
Hey Ubud High, thank you for the kind words. I love BALI! Ubud was one of my favorite and most peaceful places to trade out of, there is a real raw energy to it. Loved it. Say hello to the beautiful Balinese people and country. I'll be back. :) Have a good weekend. - George
TRADEPRO Academy - Pass by again soon... Bali misses you... Please hit me up when you're in Ubud again. Stay with us if you like. Good luck in the market.
At 13:00, it all seems logical when you drew that. But when we look back, it didn't fail at 144 as you predicted, it actually kept going up, so...
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
thanks very well explained
Thank you for the positive vibes Urban vet. Happy you enjoyed the video. Hope you have an awesome weekend. - George
Nice video. Thanks 😊
Glad you liked it :)
@@TradeProAcademy i like it very much.
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
very valuable
Thank you so much for your kind words!
THANKS
Awesome!!! THX!
Great video !!!!!
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?
whats the lowest time frame you can trade with the extension fib and the retracemnt?
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?
i mainly trade gold, GBPY, AUDCAD,USDMX
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).
what if there is not confluence in the retracements?
Hey Connor, there may not be any Fibonacci confluence, but there is likely other analysis that will mesh with that same support. Maybe a support, or previous Fibonacci extension, trendline, etc. Obviously multiple confluences on Fib make it more desirable, but even that doesn't make it a sure bet.
The only sure bet is that there are no sure bets haha.
The fibonacci Tool is only available when you buy the package with it ?
I went to check it, and I didnt find the fibo tool =/
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.
I'll check it.
Thank you very much! It seems to be an excellent site.
You're welcome. It is a great charting package for analysis and sharing. Let me know if you have any other questions.
Hi Damian......click on the pitchfork and fib comes up......
I trust the *Blended Model strategy* tutor by Dmitry Vladislav...Focusing on staying in the game longer and i always remember that playing small pip value constistently, it bring reasonable rewards over a year for me. my yearly OTE is mostly $32700+ as the case maybe. you can check the internet for it and get contact to learning info.
Brian G, is that you?
wow, I am a Mathematics instructor and can't catch up with you. You go so fast. Thanks though
Hey Mahdi, most of my math teachers spoke slower than others lol. You can always watch the replay a few times to really let it sink in. As a teacher you know that everyone has different learning styles, so it's tough to nail it perfectly for everyone. Thanks for watching and your feedback, have a great day. - George
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 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.
You're right, they"re duplicates! He just drew them slighltly off from each other from the high/low. LOL.
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.
@@HappilyNorth If he's doing that, maybe he shouldn't be teaching anything.
watching this in 2020. I wish stocks were this cheap :) Thanks for the education my friend.
the minimum I can say is : Thanks you very mucht! you´ve thaught me a lot!
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 UA-cam and in our membership site. If you have any questions let me know personally - i"M here to help . -George :)
Anthony Antoni ss############. Ss.
Watching this in 2021 when BTC hit ATH of 40k. Makes a lot of sense. Really helpful. Thank you.
Thank you!
Thank you so very much! Finally the fib makes sense to me!
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
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?
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
Very informative. How do you take note/write on the screen?
I use a program called "EpicPen", free for non commercial use. - G
If the market is bearish and all the candles going down. We then start from the top and expand down is this correct
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
@@TradeProAcademy Thank you.
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!
Awesome, happy to read this and that it helped, thanks for watching. 🙏
@@TradeProAcademy You were a vital piece in my pattern recognition. After watching this, part of my puzzle was completed. So no, thank you.
I'm a big believer in passive income and funded next seems like a great way to achieve that. Have you tried it out and what was your experience?
Bravo... this is the best vid i ever seen for so long.. darn... good stuff bud :) I appreciated.. cheers!
wow! now that's a tutorial!
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?
Thank for the tutorial. If I had this last night I won't have lot a trade I made. Lot of love from NIGERIIIIIIIIIIIIIIIIIIIA !!!
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.
We are happy to hear that this video helped you! Stay tuned for more valuable trading content!
Amazing instruction, and the fact it came from Better Call Saul is even better :D
Thank you!
Smart money SQB-AMC strategy or nothing .. Every otherthing is a joke.
Great video thank you so much for demystrifying it
A very good video explaining the concepts and the ways to apply fib tool.
Wow! Facebook at $95. Eye-watering 😳
thank you for the video it is really useful
Thank you for watching! We are happy you found it useful :)
Great tutorial, very clear and precise!
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
i try so many times this robot but broker block and remove ftom account...
From when I can analysis this, do I need to take it form one year ago or two or three ? @tradeproacademy
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
16 mins just changed my trading game.
Awesome Nick, that's amazing news - we have some other great stuff planned in the near future also. :) - George
Great explaination thank you so much. Subscribed and hit notfication button.
Thank you Lynn and welcome to our community.
would be a lot better if u stopped tryna sell ur course every 30 seconds
Nice white background, boomer. Some of us would like to still have our eyesight when we're 60
LMFAOOOOO - all my charts are dark as of about 2 years ago. I'm still a "boomer" though, I'll take it. Experience and gray hairs trumps all. :)
Bonjour !
C’est génial et merci beaucoup !
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.
How You Edit Your Videos? Which Software You Use?
thank you, even after years later i appreciate your lessons.... I am a newbie so please continue your amazing teaching
Extension levels are 1, 1.13, 1.27, 1.445, 1.618 and 2. At 12:19 you draw extension but the levels shown are fib retracement levels.
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
Stupid question, but how do you get that pen tool? I've seen several different videos with it.
Good video, I'm really enjoying the series. However Fibonacci is overrated and often used as a crux for trading when it shouldn't be. It so often fails in its application and precision.
Hey ultrapurple thanks for watching and your feedback. Fibs are one tool of many, no single tool functions accurately in isolation. So I agree with you, but as a secondary tool in a sound strategy it has its place. :) thanks again. - George
Lots of people don't really know how to use fibs.
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
why would the support be any different than the support you can clearly see from the candle sticks ?? also does it work the same on small time frames
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.
Thank you. 7 years later, still very useful and teachful ;-)
You're welcome!
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 ?
Dude, just reduce the use of word " SIGN UP " !
Thanks heaps for a very informational video! I never got fib retracements until this! Thumbs Up!
Do you provide online courses?
Hello, thank you for commenting! At TRADEPRO Academy we offer several trading courses. You can learn more about the courses here tradeproacademy.com/
Hi I am new to Tradingview and find that some data in the chart candlesticks is wrong. So how can your course help with wrong data.
Thankyou,I'm a beginner in trading,this has been helpful
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!
Perhaps this is a silly question, but why still draw support and resistance isn’t Fibonacci giving those levels to us?
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.
thank you very much learned good actions
I WISH ALL TRAINERS COULD BE STRAIGHT TO THE POIINT LIKE THIS. GREAT VIDEO
Thank you so much, truly appreciated. Sending you positive vibes. - George
is fibbonaci available on free tradingview ?
Signal to noise ratio 1000 to 1! ♥
Thank you so much! Fast, concise tutorial!
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.
Wow. That was awesome
Thank you for watching :)
excellent! exactly what i was looking for
Thanks for watching and commenting SIDDHI KID! Cheers - Mark
I had to click reverse to get Trend-based Fib Extension to work the way it does for you in the video. But now it works, so thanks :-)
Thank you for the explanation. God bless you bro
Thank you so much! Very glad that you found value in our content. Keep an eye out for more :)
this is the most confusing shit ive ever seen
Hey you are doing great. You have make me understand it better. thank you very much
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
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’s the trading been going?
You didn't go from a low to a high you went from a low to a low.
I am a beginner and i'll advice you all not to be convinced by scammers last week i got in contact with Mr George here on UA-cam which he lectured me with his One On One master trading class and so far I'll recommend you old and new traders to contact him because he is the Number one☝ teacher that can change your life with trading contact him 👉Georgeconnor365@gmail.com) and he will help you, he is very honest I bet you will never regret contacting him 📉📊📈
Where you're drawing your FIB retracement on the 15minute chart why don't you extend the fib out to the support
too fast....need to slow explanation
Very helpful, thank you very much!
is a retracement like a pullback? sorry im new to this can someone explain.
You got that right! Retracement and pullback are interchangeable terms. Hope this helps! Regards
@@TradeProAcademy thank you!
So do u just click all to zoom out
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
Great 👍🏻 educational video, making concepts easier to grasp
Thanks for watching and the warm words Joseph, more awesome stuff coming soon. - George
Always draw from wicks
Great, thank
you.