Professional Documents
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The information (which was solely developed as a visual aid to support and
enhance the matters presented at the seminar) has been provided by the
presenter in good faith and every reasonable attempt has been taken to ensure
the information contained in the presentation is accurate as at the date of the
presentations.
Fibonacci Tool is a leading indicator, which means you will have an idea of
the support and resistance of the price before it even get there.
A Fibonacci trader is able to get the most part of the move from the moment
of breakout.
With the Fibonacci tool, the trader can, on many occasions, exit almost
exactly at the end of the move.
Origin of
Fibonacci
Drawing the retracement is as easy as writing ABCD, however, there are a few
points that needs to be observed to maintain a consistent reading, and prevent
misanalysis that could lead to a costly mistake
Try to use the standard levels. Over time, when you gain more experience,
you will decide which are the most important ones and which ones you prefer
to use.
Confluence and Convergence could give a trader a likely area that could
act as a strong support or resistance
Convergence happens when you draw, from the same timeframe, multiple
Fibonacci retracement lines on multiple swings where some levels ended
up lying close to each other
Confluence happens when multiple fibonacci levels from different
timeframe, or different indicator, i.e. MAs, Ichimoku, etc, on the same
timeframe merged or crossed on a certain price level
Convergence
Confluence
Facebook Page - https://web.facebook.com/FibonacciAndClouds/
YouTube Video - https://www.youtube.com/watch?v=116cWHyjDwU
The Book - http://iamichimoku.com/the-book/
Book Review by Nikki Yu -
https://facelesstrader.wordpress.com/2016/06/05/june-52016-book-review-o
f-ichimokus-fibonacci-and-clouds/
Trading Academy - http://iamichimoku.com/the-academy/
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Twitter - @iamichimoku
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