Fibonacci Crash Course for Beginners | Fibonacci Retracement Tool
Published: 2024-08-08
Status:
Available
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Analyzed
Published: 2024-08-08
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
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If the market breaks the 0.6 Fibonacci level (or subsequent levels in a downtrend), it signals a reversal. In an uptrend, breaking levels 1, 2, 3, or 4 indicates a potential reversal downwards.
"As soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down. Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
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The Fibonacci levels (specifically 0.236, 0.382, 0.5, 0.618, and 0.786) are used to identify potential points where the market will continue its current trend after a retracement.
"So, these 5 points tell us where the market can continue again the direction of the trend."
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In strong trends where the market moves very fast upwards or downwards, Fibonacci levels 0.236, 0.382, and 0.5 are particularly useful for predicting potential reversals or continuations.
"And when the market is going up, then it is going very fast, or if it is going down, then it is going down very fast, there you will use 0.236, which is our first level. And 0.382 and 0.5. These three levels will be useful to you."
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In trends with significant price movements (not necessarily extremely fast), Fibonacci levels 0.618 and 0.786 are key levels to watch for potential reversals.
"And when there are big movements When you are getting to see big movements in the market You 0.382 When there is an uptrend in this direction in the market or a downtrend in this direction, then the reversals that you will see will be seen from 0.618 and 0.786."
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In an uptrend, applying the Fibonacci tool from the lowest point to the highest point reveals levels (0.236, 0.382, 0.5, 0.618, 0.786) where the market might retrace before continuing its upward trend. The speaker shows an example where the market continued upwards after retracing to the 0.382 level.
"So, I've just covered the lowest point. What exactly happened here? I'm not here to prepare anything, I'm not here to take old charts or screenshots, I'm doing it live. All the examples I gave are from exactly the same point. So what did you see what I did? I clicked on the lowest point, meaning whenever there is an uptrend, So in the Fibonacci tool, you will click on the first point at the bottom and you will take it to the point at the top. Then it will tell you the levels. So from here, the market went continuously upward. As you guys can see, it went continuously upward from here. Then after that, the market took a small fall. Okay? So this is retracement. There is a small retracement retracement has come or how far it can come. So this is one point, it told you one. Right there. This is one potential point, this is two, this is three, this is four, and this is five. I told you about five points, I told you about 0.238. 0.382, 0.5, 0.618, and 0.786, 786. You have to keep these 5 numbers in mind. So, these 5 points tell us where the market can continue again the direction of the trend. So, the market took a retracement up to here. Then, after that, look, our point was 0.382. From there, the market again started moving in the continuous upward direction. Yes or no?"
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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.
"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."
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A combination of a Fibonacci level (specifically, the speaker highlights the second point, implying a retracement level like 0.382 or 0.5), a support level, and a morning star candlestick pattern provides three confirmations for a potential buying opportunity, leading to an upward market movement.
"So here, he came to the second point and took a movement in the upward direction. Plus, we got to see the morning star. This is a potential buying point. As soon as you saw the morning star, you can buy here. Why? There are three confirmations here. Actually, there are two confirmations here. And there is also a third one here. Let me explain to you all three. Now, let me explain to you how to derive all three. First thing, you can identify a support level here. As we all know, we always study the market. So in the market, you got a support level, plus you got this Fibonacci level. These are two of our points, which means that here we got two confirmations. We got the third confirmation of the morning star. After that, as soon as we saw a green candle, after that we took the entry. And after taking the entry, you can see that the continuous market has gone up. Yes or no?"
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If Fibonacci levels 0.6 or higher are broken in an uptrend, it signals a potential reversal to a downtrend. Conversely, if key upward levels are broken in a downtrend, it suggests a reversal to an uptrend.
"So as soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down. Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending
In strong, fast-moving trends (up or down), reversals are more likely to occur at Fibonacci levels of 0.236 and 0.382. For larger, less rapid movements, reversals are more likely at 0.618 and 0.786.
"When there is a strong upward movement Means when the market is going up very fast Or when the market is going down very fast Then always the reversals that will come That will be in from 0.236 and 0.382 And when there are big movements When you are getting to see big movements in the market You 0.382 When there is an uptrend in this direction in the market or a downtrend in this direction, then the reversals that you will see will be seen from 0.618 and 0.786."
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In strong market trends with small retracements, the key Fibonacci levels to watch for continuation are 0.236, 0.382, and 0.5.
"So the first thing, when a particular chart is moving in this direction, as you can see, when there is a big trend or when there is a strong move, like if we break it here, It went up like this, then it came down, then up, then down, then up. Where the retracements are very small, where the retracement or the market rend is very strong, where the market trend is strong, meaning if the market is going up, then it is going very fast, or if it is going down, then it is going down very fast, there you will use 0.236, which is our first level. And 0.382 and 0.5. These three levels will be useful to you."
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90% of the time, market reversals will occur at Fibonacci levels of 0.236, 0.382, or 0.5.
"Always most of the time, 90 percent of the time. It will, what it will do is it will only reverse from these points, 0.236, 0.382 or 0.5."
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A combination of support levels, Fibonacci levels, and chart patterns like the Morning Star can provide strong buy signals, leading to market continuation.
"First thing, you can identify a support level here. As we all know, we always study the market. So in the market, you got a support level, plus you got this Fibonacci level. These are two of our points, which means that here we got two confirmations. We got the third confirmation of the morning star. After that, as soon as we saw a green candle, after that we took the entry. And after taking the entry, you can see that the continuous market has gone up."
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In an uptrend, if the market retraces to the 0.382 Fibonacci level, it is likely to continue its upward movement from that point.
"So, the market took a retracement up to here. Then, after that, look, our point was 0.382. From there, the market again started moving in the continuous upward direction. Yes or no?"
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In a downtrend, the 0.618 Fibonacci level can indicate a continuation of the downward trend after a retracement.
"So here you can see our 0.618 point that came out to be a continuation trend."
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If Fibonacci levels 0.2, 0.3, 0.5, 0.6, or 0.7 are broken, it signals a potential trend reversal, indicating the retracement is over and the market will move in the opposite direction of the prior trend.
"And as soon as it breaks four numbers. We talked about five numbers. That is 0.2, 0.3, 0.5, 0.6 and 0.7. So as soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
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If market trends, after moving upwards, break through specific Fibonacci levels (1, 2, 3, 4), it indicates a potential reversal of the trend.
"Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending
In strong uptrends or downtrends where the market moves very fast, reversals are likely to occur at Fibonacci levels 0.236 and 0.382.
"When there is a strong upward movement Means when the market is going up very fast Or when the market is going down very fast Then always the reversals that will come That will be in from 0.236 and 0.382"
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During significant market movements (uptrend or downtrend), reversals are expected to occur around Fibonacci levels 0.618 and 0.786.
"And when there are big movements When you are getting to see big movements in the market You 0.382 When there is an uptrend in this direction in the market or a downtrend in this direction, then the reversals that you will see will be seen from 0.618 and 0.786."
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Fibonacci levels can be used to identify potential entry points for trades. After a retracement, when momentum candles or chart patterns confirm the direction, a trade can be taken in alignment with the trend.
"So Fibonacci point and also explains how to take trades. Let's say market up, Fibonacci will tell you that when it came down, it will go up from here. As soon as you know the Fibonacci level, in a particular movement, you get momentum candles, you get a particular chart pattern, from there you can take a trade in the up direction, in the direction of the trend."
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Once a Fibonacci retracement ends, traders should take a trade in the direction of the existing trend, as indicated by the Fibonacci tools.
"So, as soon as it ends, you have to take a trade in the same direction of the trend. These are the Fibonacci tools that tell you."
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Approximately 90% of the time, market reversals will occur at Fibonacci levels 0.236, 0.382, or 0.5.
"Always most of the time, 90 percent of the time. It will, what it will do is it will only reverse from these points, 0.236, 0.382 or 0.5."
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A potential buying opportunity arises when the market reaches the second Fibonacci level and forms a Morning Star candlestick pattern, indicating a likely upward movement.
"So here, he came to the second point and took a movement in the upward direction. Plus, we got to see the morning star. This is a potential buying point. As soon as you saw the morning star, you can buy here."
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Combining support levels with Fibonacci levels provides strong confirmation for trading decisions, indicating two reliable points of reference.
"First thing, you can identify a support level here. ... So in the market, you got a support level, plus you got this Fibonacci level. These are two of our points, which means that here we got two confirmations."
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In markets with large up and down movements, even within a long-term uptrend, if there are small breaks and falls, Fibonacci levels 0.2 and 0.3 become important for analyzing the trend's continuation.
"And when the market is moving like this, as you can see here, let me show you. It's moving like this, you can see. So, the movements in this, you can see, the retracements are also big. Okay? The retracements are big, basically, the market is moving, moving, up and down. Even though it's an uptrend in the long term, but the market is going up and down. But, a market where it's going up, where there are small breaks and falls in between, in those cases, when the market is moving very fast, 0.2 0.3 These are two important levels."
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If the market breaks the 0.6 Fibonacci level, it indicates a reversal and continuation in the opposite direction of the trend. This applies to both uptrends and downtrends.
"As soon as it breaks four numbers. We talked about five numbers. That is 0.2, 0.3, 0.5, 0.6 and 0.7. So as soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
Pending
If the market breaks key Fibonacci levels (specifically referring to breaking past multiple levels like 1, 2, 3, 4 after an uptrend, or implied breaking of downtrend levels), it signifies a potential reversal of the trend.
"Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending
In strong uptrends with significant upward momentum and smaller retracements, the 0.236 and 0.382 Fibonacci levels are important indicators for potential reversals or continuation points.
"And when the market is moving like this, as you can see here, let me show you. It's moving like this, you can see. So, the movements in this, you can see, the retracements are also big. Okay? The retracements are big, basically, the market is moving, moving, up and down. Even though it's an uptrend in the long term, but the market is going up and down. But, a market where it's going up, where there are small breaks and falls in between, in those cases, when the market is moving very fast, 0.2 0.3 These are two important levels."
Pending
In strong trending markets with significant price movements, reversals are likely to occur around the 0.618 and 0.786 Fibonacci retracement levels.
"And when there are big movements When you are getting to see big movements in the market You 0.382 When there is an uptrend in this direction in the market or a downtrend in this direction, then the reversals that you will see will be seen from 0.618 and 0.786."
Pending
In markets with very fast upward or downward trends, the Fibonacci levels of 0.236, 0.382, and 0.5 are particularly useful for identifying potential turning points.
"So when the market is going up, then it is going very fast, or if it is going down, then it is going down very fast, there you will use 0.236, which is our first level. And 0.382 and 0.5 These three levels will be useful to you."
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The 0.618 Fibonacci level can act as a point of continuation for the prevailing trend.
"So here you can see our 0.618 point that came out to be a continuation trend."
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The 0.382 Fibonacci level acted as a point from which the market continued its upward trend.
"From there, the market again started moving in the continuous upward direction."
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The second Fibonacci level (implied to be 0.382 or similar, as indicated by 'second point') combined with a morning star candlestick pattern signals a potential buying opportunity.
"Here, he came to the second point and took a movement in the upward direction. Plus, we got to see the morning star. This is a potential buying point. As soon as you saw the morning star, you can buy here."
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Breaking the 0.6 Fibonacci level signals a high probability of a trend reversal, meaning the retracement is complete and the market will move in the opposite direction.
"So, as soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
Pending
Fibonacci levels are used to predict the extent of market retracements and the specific points from which the trend is likely to resume.
"So, it will come down a little bit. Now we know how much it will come down. But how much level will it come down? And from where will it go up again? This is what the Fibonacci levels tell us."
Pending
The Fibonacci levels of 0.236, 0.382, 0.5, 0.618, and 0.786 are key areas where the market is likely to continue its existing trend.
"These are the three points which you have to look for the most. Now I will explain this to you in detail. It might be a little difficult now, but bear with me, bear with me. So I told you some numbers, 0.382, 0.23, 0.5, 0.618, 0.786. These are the points from where the market will continue in the direction of the trend."
Pending
The Fibonacci levels of 0.382, 0.5, and 0.618 are significant points from which the market will likely continue its downward trend after a retracement.
"So here, 1, 2, 0.38, 0.5, 0.61, these are the three major points from where it goes down. And as soon as it retraces from this level, it starts to retracement ends, the market continues in the same direction."
Pending
The five key Fibonacci levels (0.236, 0.382, 0.5, 0.618, and 0.786) indicate points where the market is expected to continue its prevailing trend.
"So, these 5 points tell us where the market can continue again the direction of the trend."
Pending
The 0.382 Fibonacci level served as a reversal point from which the market resumed its upward trend after a retracement.
"So, the market took a retracement up to here. Then, after that, look, our point was 0.382. From there, the market again started moving in the continuous upward direction."
Pending
Breaking the 0.6 Fibonacci level indicates that the retracement is complete and a reversal of the trend is likely to occur, leading to a continuation in the opposite direction.
"As soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
Pending
If multiple Fibonacci levels are broken consecutively in an uptrend after a downtrend, it signals a high probability of the market reversing and continuing downwards.
"Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending
In fast-moving markets with significant upward or downward trends and smaller retracements, the 0.236 and 0.382 Fibonacci levels are crucial for identifying potential trend continuations or reversals.
"And when the market is moving like this, as you can see here, let me show you. It's moving like this, you can see. So, the movements in this, you can see, the retracements are also big. Okay? The retracements are big, basically, the market is moving, moving, up and down. Even though it's an uptrend in the long term, but the market is going up and down. But, a market where it's going up, where there are small breaks and falls in between, in those cases, when the market is moving very fast, 0.2 0.3 These are two important levels."
Pending
Fibonacci levels are predictive tools that indicate the extent of market retracements and the specific price points from which a trend is expected to resume.
"So, it will come down a little bit. Now we know how much it will come down. But how much level will it come down? And from where will it go up again? This is what the Fibonacci levels tell us."
Pending
The Fibonacci retracement levels of 0.236, 0.382, 0.5, 0.618, and 0.786 are significant levels where the market is expected to continue its existing trend.
"These are the three points which you have to look for the most. Now I will explain this to you in detail. It might be a little difficult now, but bear with me, bear with me. So I told you some numbers, 0.382, 0.23, 0.5, 0.618, 0.786. These are the points from where the market will continue in the direction of the trend."
Pending
The Fibonacci levels of 0.382, 0.5, and 0.618 are key points from which the market is likely to continue its downward trend after a retracement.
"So here, 1, 2, 0.38, 0.5, 0.61, these are the three major points from where it goes down. And as soon as it retraces from this level, it starts to retracement ends, the market continues in the same direction."
Pending
The five primary Fibonacci levels (0.236, 0.382, 0.5, 0.618, and 0.786) are indicators of where the market is likely to resume its prevailing trend.
"So, these 5 points tell us where the market can continue again the direction of the trend."
Pending
The 0.382 Fibonacci level acted as a pivot point, from which the market resumed its upward trajectory after a retracement.
"So, the market took a retracement up to here. Then, after that, look, our point was 0.382. From there, the market again started moving in the continuous upward direction."
Pending
A break of the 0.6 Fibonacci level signals the end of a retracement and the likely start of a trend reversal, leading to a continuation in the opposite direction.
"As soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
Pending
If multiple Fibonacci levels are breached in an uptrend following a downtrend, it strongly suggests a reversal of the trend, with the market likely to continue downwards.
"Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending
Breaking the 0.6 Fibonacci level signifies the end of a retracement and a strong likelihood of a trend reversal, causing the market to move downwards.
"As soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
Pending
If the market breaks through multiple Fibonacci levels during an uptrend that followed a downtrend, it suggests a reversal and a potential continuation of the downtrend.
"Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending
In fast-moving markets with strong trends and small retracements, the Fibonacci levels of 0.236 and 0.382 are significant for identifying potential trend continuations or reversals.
"And when the market is moving like this, as you can see here, let me show you. It's moving like this, you can see. So, the movements in this, you can see, the retracements are also big. Okay? The retracements are big, basically, the market is moving, moving, up and down. Even though it's an uptrend in the long term, but the market is going up and down. But, a market where it's going up, where there are small breaks and falls in between, in those cases, when the market is moving very fast, 0.2 0.3 These are two important levels."
Pending
Fibonacci levels provide insights into the extent of market retracements and the specific price points from which a trend is likely to resume.
"So, it will come down a little bit. Now we know how much it will come down. But how much level will it come down? And from where will it go up again? This is what the Fibonacci levels tell us."
Pending
The Fibonacci retracement levels of 0.236, 0.382, 0.5, 0.618, and 0.786 are critical points where the market is anticipated to continue its prevailing trend.
"These are the three points which you have to look for the most. Now I will explain this to you in detail. It might be a little difficult now, but bear with me, bear with me. So I told you some numbers, 0.382, 0.23, 0.5, 0.618, 0.786. These are the points from where the market will continue in the direction of the trend."
Pending
The Fibonacci levels of 0.382, 0.5, and 0.618 are significant points from which a downward trend is likely to continue after a retracement.
"So here, 1, 2, 0.38, 0.5, 0.61, these are the three major points from where it goes down. And as soon as it retraces from this level, it starts to retracement ends, the market continues in the same direction."
Pending
The five key Fibonacci levels (0.236, 0.382, 0.5, 0.618, and 0.786) indicate future points where the market is expected to continue its current trend.
"So, these 5 points tell us where the market can continue again the direction of the trend."
Pending
The 0.382 Fibonacci level acted as a turning point, from which the market resumed its upward movement after a retracement.
"So, the market took a retracement up to here. Then, after that, look, our point was 0.382. From there, the market again started moving in the continuous upward direction."
Pending
A break of the 0.6 Fibonacci level signifies the conclusion of a retracement and indicates a probable trend reversal, leading to a downward market continuation.
"As soon as it breaks 0.6. It has broken 0.6. This means that there is a chance of a reversal. Retracement is over. Instead of going upward, the market will continue down."
Pending
If an uptrend following a downtrend breaches multiple Fibonacci levels, it suggests a reversal and a potential continuation of the downtrend.
"Or if the market is going downward, and we took it up. 1 break, 2 break, 3 break, 4 break, then break, so it means the market can reverse and go now."
Pending