hello dear traders
i try in this video to show you how to draw your fibo ext tool on your chart.
Put in mind that rule number one is to Remeber that while you're drawing an indicator you should take in considiration THE GOLDEN POINT (from where the market starts its impulsion )
After that you choose in our exemple here the first point of the Fibo should be right on the break out of the ligne (called golden point) then the second point on the highest price and at last the third point on the lawer point after correction.
Result of that: it is to calculate the extent or the amplitude of the current impulse (impulse of the trend).
Nb: this retracement we can rectify it whenever is necessary, something that will be the subject of future videos.
thank you and excuse me for the quality of my presentation
i try in this video to show you how to draw your fibo ext tool on your chart.
Put in mind that rule number one is to Remeber that while you're drawing an indicator you should take in considiration THE GOLDEN POINT (from where the market starts its impulsion )
After that you choose in our exemple here the first point of the Fibo should be right on the break out of the ligne (called golden point) then the second point on the highest price and at last the third point on the lawer point after correction.
Result of that: it is to calculate the extent or the amplitude of the current impulse (impulse of the trend).
Nb: this retracement we can rectify it whenever is necessary, something that will be the subject of future videos.
thank you and excuse me for the quality of my presentation