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Learnt the Concepts of technical indicators and its types .
Technical indicators graphical representation of Volume and price. A short way to read the market trend from buyers and sellers perspective.
This is different from other analysis as it focuses on support and resistance values.
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Bearish-GAP-SHORT-BICON-25-10-2019 October 25, 2019
FEDERAL BANK – BEARISH ENGULFING October 17, 2019
Cummins India – Bearish Engulfing – 24Sep19 September 25, 2019
Day29-Tata Motors DVR – Bearish Piercing – 12Sep19 September 12, 2019
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Hi,
In response to your question
Fibonacci retracement – The Fibonacci sequence is one of the most famous formulas in mathematics. Each number in the sequence is the sum of the two numbers that precede it. So, the sequence goes: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, and so on. Traders believe the Fibonacci series has its application in stock charts as it identified potential retracement levels. Fibonacci retracements are levels (61.8%, 38.2%, and 23.6%) up to which a stock can possibly retrace before it resumes the original directional move.
Golden Mean is 1.618 Logic behind golden mean is the ratio of two consecutive numbers in Fibonacci series is same for all the two consecutive numbers.
Example 1: 21/13=1.618 Example 2: 144/89=1.618
How to use it while trading stocks
First, find the recent significant Swing Highs and Swings Lows. For downtrends, click on the Swing High and drag the cursor to the most recent Swing Low. While for uptrends, do the opposite. Click on the Swing Low and drag the cursor to the most recent Swing High. When you applying the tool, the software shows you the retracement levels automatically.
How to trade with Fibonacci levels
If you apply the Fibonacci tool, it will show you the retracement levels 38.2%, 50% and 61.8% in between the start and the end of the move. As these are levels that the price could retrace back. so, you can use it for potential entries and the most common extension levels are the 138.2% and 161.8% levels and are commonly used for exits out of the stocks.
Thank you