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I will be speaking to teenagers, campus students and young professionals on Saturday 29th July 2023 at the Impact Academy. Dearly beloved, kindly make time to join.
#ImpactAcademywithKumuyi
Today, I'll be giving away 4 $20k evaluation accounts to 4 random followers.
Turn on post notifications.
Giveaway will be live by 8pm GMT+1 ๐ฅ๐ฅ
Courtesy: @Maventrading
Courtesy of @Maventrading, I'll be giving away 20$k challenge accounts to 4 lucky persons and 1 20$k challenge account to one of my most active followers.
To qualify ;
- Follow @chartlord, @Maventrading, @Traderz_Hub
- Like, retweet and tag 2 traders you know to this tweet.
Winners will be announced in 24hours hours. Good luck!!!
Happy Birthday AJS. Thank you for being a voice in our generation, thank you for being a blessing to our generation and especially my life. Thank you for helping me find direction when I needed to, thank you for being an inspiration to why many want to hear the word of God! May God continue to uplift you and above all flourish your ministry! #AJS
This is to formally announce my partnership with @Maventrading. To celebrate this announcement I'll be giving out 20$k challenge accounts to 3 lucky persons. To qualify, Follow
@chartlord,
@Maventrading
@Traderz_Hub
Like, retweet and tag 2 of your trading buddies. Announcing winners in 24hours!
Every trader wants to see their trade move into profits as soon as they take the position.
Watching your trades move indecisively around your entry gets you emotionally attached to the trade which affects your psychology negatively.
Fibonacci Retracement Explained:
In technical analysis a Fibonacci retracement is a trading methodology for determining high probability support and resistance levels on a chart. It uses the Fibonacci sequence and that is where its name comes from. A Fibonacci retracement uses the theory that price swings on charts will usually retrace and backfill a mathematical portion of a move, after this measured pullback the trend usually continues the move in the original direction.
A probable Fibonacci retracement level is quantified by taking two distant price points on a chart and dividing the vertical distance by using the key Fibonacci ratios. 0% is the starting point for the measurement of the retracement, and 100% is a total reversal back to the starting point of the move. Fibonacci levels are identified by measuring moves from the starting point of support or resistance.
Horizontal trend lines are drawn on the chart to identify the potential key support and resistance levels. The significant levels to look at are 61.8% 50%, 38.2%, and 23.6% for support or resistance.ย
A Fibonacci retracement is a very common technical tool that price action traders use to look for high probability price levels to enter trades, set stop losses in current trades, or set profit targets for winning trades.
The concept of looking at key retracement levels at possible price extensions is a method not only used with Fibonacci but also with many other methods like Elliott Wave theory, Wolfe Waves, and Gartley patterns. After an up or down swing in price the new price support and resistance levels can be seen showing up at the key retracement levels in these methods.
While moving averages can change as price moves the Fibonacci retracement levels are set prices. They are targets on the chart that stay the same. This simplifies the identification of signals and creates price levels that can be acted on immediately when reached. These levels are key reaction points on a chart and can lead to a binary action for traders as the there is either a breakout in price or it is rejected and holds as support or resistance.
The primary 0.618 Fibonacci retracement price level used by so many stock traders is approximately the โgolden ratioโ.