Swing High/Low help + Difference between Fibonacci expansion/retracement?

Beginner Questions
1

Hi guys,

Two quick questions:

  1. I’m trying to place a Fibonnaci Expansion on the market below, but I am having trouble identifying a clear swing low/high. Obviously the market isn’t trending and is consolidating, so what would you identify as the swing highs/lows for the Fibonacci?

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  2. Can anyone explain to me the difference between a Fibonacci Expansion & Retracement. To be honest, I’ve heard an explanation before but it didn’t click.

Thanks so much.

2

off topic, but check out TradingView to do your chart analysis,working straight off the MT4 platform is hard in my opinion. There’s a lot more useful tools as well for you to us

3

Well, how does TradingView differ from Metatrader?

because, tbh, I was really impressed with metatrader so far - so how do you think TV is better?.

Thanks for the suggestion.

4

TradingView is just a website that traders go on to analyze the charts, different charts based on the broker you’re using, that’s all. But, you want to use MT4 to place your trades.

5

charts can be customized also to your liking. You’ll see what I’m talking about after you check it out

6

I use TVC all the time daily. here is one of my charts. 5M DXY with an XAU compare at the bottom.

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7

Or, should I just not try to use Fibonacci in a ranging market like this?

Instead of worrying about where to place Fibonacci, should I just not place it at all?

8

THIS POST covers a little more than you asked for — but, you’ll find your answer in it.

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