when a retracement is occurred then price comes back to previous resistance and there is a sign like momentum candle or morning start or dogi candles.
Fibonacci was an Italian Mathematician
for trade we
- level marking
- order block
- volums tests
- trendlines
- fvg
Fibonacci Retracement (Golden Zone)
is used to identify targets or how deep a retracement can be
use below settings for fib with percentiles as levels. this setting will be below fib settings.
When the retracement start then apply fib from the bottom of the impulse wave. (Not from lower high)
Wicks would also be included.
If price is rising from golden zone. then tps work very well
Condition: It only works in trend. will not work in sideways. as impulse wave is must.
This is the first POI
Fib is applied on impulse wave not from Higher Low.
- TP1 90% chances
- TP2 75%
- TP3 50%
in this example fvg was just below the golden zone. price first tap fvg and respected it but then it came back to golden zone and from there we get a momentum sell candle. take trade after that and sl above golden zone. this typical trade hit all tps. When fvg matches golden zone then its really GOLDEN
Zone marking should be on h1 and M30.
