2 Comments
  1. Naresh 1 year ago

    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 the golden mean is the ratio of two consecutive numbers in the Fibonacci series is the 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.

    click the link below for more details
    https://www.youtube.com/watch?v=o7UNxJrns2g

  2. Author
    Bini Balakrishnan 1 year ago

    Thank u sir for the answer but I have not properly understood of how to draw it to make use of it

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