ilmscore | Prediction Details
"So here, what I'll do is, I've selected the Fibonacci tool. Now, because this is a down trend, what I'll do is, I'll capture the highest point. So, this is the lowest point, and then I will pull it in this direction. And here you can see, I have drawn some points here. The first thing was our highest point. After that, our lowest point, that is this. After that, you can see where the reversal happened. The market came in the downward direction. This is downtrend. Retracement, then continuation of trend. So for continuation of trend, the particular point was given by Fibonacci tools. So here you can see our 0.618 point that came out to be a continuation trend."
By Trade with Purab | August 8, 2024 | Pending
From video
Fibonacci Crash Course for Beginners | Fibonacci Retracement Tool 00:22:08 - 00:22:57
Interpreted Prediction
In a downtrend, applying the Fibonacci tool from the highest point to the lowest point helps identify levels where the market might retrace before continuing downwards. The speaker demonstrates this with an example where the 0.618 level led to trend continuation.

Prediction Details

Topic
Fibonacci Retracement in Downtrend

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