Hi im new to trading and have been reading the education section on babypips, im confused in which way you pull the Fibonacci do you pull it from low to high or from high to low i ask this because you either get to 0% at the bottom or 0% at the top
According to the default sittings, you may have the zero level at the bottom. But, good news is, you can customized the sittings.
But dose this change the place were the 50% line is and could this change your entry point on trades
Im using the MT4 Platform so that come standard
No, 50% level will be same since it’s the middle point of 0 to 100.
I use the MT4 platform so you cant change the settings so which way do i pull it so in a uptrend do i pull it so the 0% is at the bottom or the other way
You have to think of the word “retracement”. If an instrument has gone from low to high and is coming back down(retracing), you go from low to high to capture the percentage.
If an instrument has gone from high to low and is coming back up, you go from high to low to figure the retracement.
Then there are “extensions”…
Thank you this as helped a lot
Buddy, it’s possible on the Mt4; ask the same question on YouTube; there have so many videos on this topic already.