i’m having confuse about what to follow and buy or sell when i’m using fibonacci
can someone please help me
other ones are on my reply
Please give the Babypips course section on Fibonacci retracements a read:
https://www.babypips.com/learn/forex/elementary#fibonacci
Generally you shouldn’t trade just based on Fibonacci. It’s just one tool. You should use other tools to confirm direction of price action. You should also determine whether the specific currency you’re using has a history of confirming to Fib levels. Basically backtest the heck out of whatever you’re doing.
Seeing you’re new you’re also trying to identify reversals for optimal buy/sell entries. Isn’t it easier and more profitable to buy in the direction of an established trend instead?
Please give the entire Babypips online course a good read.
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I think the price action and market context is a profitable strategy from Fibonacci. I try to create a sentimental trading formula.