How to use Fibonacci Retracement in Intraday Trading in pi chart , for long and short? what is the best time frame to draw Fibonacci?
Check the Varisty chapter of Fibonacci replacement from the below link for more details
Hello Trader,
1) Fibonacci works across all time frames.
2) Fibonacci Retracements is a drawing tool to determine different support and resistance levels in the future.
3) check the below chart to see how Fibonacci tool knew the NIFTY BOTTOM support on 12/02/2016 1 year in advance using data from points X and A. Just amazing. is it not ?
4) On how to use this tool. Please learn it from the Zerodha Varsity.
read full chapter already,learn how to draw on long and short , now want to know how a intraday trader use it on daily basis, what time frame he is using ??
read full chapter already,learn how to draw on long and short , now want to know how a intraday trader use it on daily basis, what time frame he is using ?? can you help me on that???
The most commonly used time-frame for intraday trade is a 5MIN candle chart.