Fibonacci retracement question

Beginner Questions
1

Hi, so I’ve finally started trying out Fibonacci and im wondering, how long are the Fibonacci lines relevant for?

Ofcourse this depends on which time scale you set them on…

So on an hourly chart how long would they be relevant for and on a daily chart etc?? What should I be looking for to tell that the lines are no longer relvant?

Thanks.

2

Until price action has either confirmed them or rejected
them. ie if the price retraces to the 38% line then
reverses again to it’s original course past the 0% line,
the cycle can be assumed to be over.

Study “peaks & troughs” as well.


3

Think I get it, thanks! :slight_smile: