📏FIB Retracements Guide

What Are FIB Retracements Used For?

-The FIB Retracements is a technical analysis tool used to measure pull back levels and can
act as Support & Resistance

What Is This Guide About?

This Simple and Short guide will show you the:

-Optimum settings for FIB Retracements
-Proper Drawing of the FIB Retracements
-How To Use the FIB Retracements To Enter Long Positions
-How To Use the FIB Retracements To Enter Short Positions
-1 Special Trick about the FIB Retracements

What Charting Platform I Used In This Guide?

-Trading View is used in this guide, which is one of the most popular Charting Platforms
used by many traders worldwide.

Optimum Settings 🛠

Default Settings:

These default settings have a lot of unnecessary noise and will just make your life harder,
let’s make it easier for you to use.
Optimum Settings:

Nice! Now this setting is the best for ease of use and of course making the lines thicker and
changing their colors are up to you. The Levels that are being used are the most important
levels that truly matters the rest is just noise ( 0.00% 23.605% 50% 61.80% 78.60%
100.0% ) Proper Drawing of the FIB Retracements:

-Remember that the FIB Retracements can Only Be Used When There is an
Uptrend/Downtrend

-Example (Downtrend):
If you did it properly the 100.0% Level should be at the Top & the 0.00% Level at the
Bottom.

-Example (Uptrend):

If you did it properly the 0.00% Level should be at the Top & the 100.0% Level at the
Bottom.

How To Use the FIB Retracements To Enter Long Positions 📈

-Make sure that there is a current uptrend going on.

-Once an uptrend is identified, make sure to properly draw the FIB Retracements
-The Price is currently Consolidating between the 0.00% - 23.60%

-Now The Price Brokedown and Retesting the 23.60% Level, we are now waiting for a Break
Out to enter a Long Position.

-Price Finally Break Out Above the 23.60% Level, So We Entered A Long Position And Set
Up Our Stop Loss Below the 23.60% Level.
-Great! Now will be a good time to exit and book profits. Please Remember that in any trade
a 10% profit is big enough. Do not Let Grid Dictate Your Decisions. So if you are risk averse
I recommend exiting once you get 10%+ Profit.

How To Use the FIB Retracements To Enter Short Positions 📉

-Make sure that there is a current uptrend going on.

-Once an uptrend is identified, make sure to properly draw the FIB Retracements

-Price Bouncing Up from the 0.00% Level, let’s see if we can short this once the price gets
rejected at the 23.60% Level.
-Now the price just broke through the 23.60% We are looking to short this trade right now.
Let’s see if a pull back and break down will happen.

-As You can see, the price had some trouble moving up and constantly testing the 23.60%
Level. So we enter a short position and set our Stop loss above this time the 23.60% Level.
-Another Great Profitable Trade for us. Remember, if you are risk averse I recommend
exiting once you get 10%+ Profit.

Special Trick About FIB Retracements 🔮

-The Level 0.00% and 100.0% of the FIB Retracements can be used to enter a trade to
which we call the, “Golden Setup.”

-Golden Setups are high odds setup trades and on average the price will have a big move.

-I will only show a Short Golden Setup, for a long Golden Setup just do the Opposite.
-Right Now, the price broke through 23.60% and getting rejected at the 0.00%

-After testing the 0.00# Level price finally broke through it.
-Remember, everytime the 0.00% Level or the 100.0% Level a pullback will highly likely
happen. The Golden Setup will only be validated after a pull back and break out of ( 100.0%
or 0.00% ) happens or just a rejection of those levels.

-Perfect, 0.00% Level just got broken through again after a pull back and a retest, a high
success rate Golden Setup just got validated. Now we enter a Short Trade Position
-Will you look at that, such a great downward price action. We are not going to be Greedy
and Will Book Our Profits.

Side Notes 📖

● Do Not Go Against The Trend, This Will Increase Your Success Rate Of Winning
Your Trades. Only Do Short Positions in A Downtrend and Only Long Positions On
An Uptrend.

● The FIB Retracement Strategy just like any other strategy will work Better on a
Higher Bigger Time Frame

● I Recommend Trading No Lower Than 15 Minutes Time Frame, Anything Below

Will Have Too Much Noise For A Beginner Trader Without Any Kind Of A Solid
System.