What is the criteria to select high and low points in a Fibonacci retracement?

Technical Analysis
1

Hello Friends,

In the Fibonacci Retracement, what is the criteria to select the immediate Peak and Bottom points before actually connecting them ? What should be the price difference ? Please help.

Thanks

2

swing high and swing low can be selected

3

@Anup_2018 How to do that ? Please elaborate bro.

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5

Thanks but what should be minimum price difference between the two points to consider them high/low ?
I wanted to know that actually.

6

there is no minimum price difference to be considered…if you want to know the retracement level when price is in a downtrend then just start the fibonnaci from previous swing high and drag it till you reach the swing low from where the price has begun to retrace…otherwise if the price is in uptrend then do the same but from previous swing low to swing high…(so basically its drawing downwards from left to right in downtrend and drawing upwards from left to right in uptrend)

7

In kite, how to draw Fibonacci retracements ?